1507 W Oakland Ave - Hospitality FOR SALE


Austin, MN 55912
$770,000 USD
507-279-2266
1507 W Oakland Ave, Austin, MN for Sale
$770,000 USD
Hospitality - FOR SALE
1/1
null | Request Cap Rate

1507 W Oakland Ave
Austin, MN 55912


HIGHLIGHTS

  • Prime Investment Opportunity
  • Ideal for Sober Living Conversion
  • Versatile Property Potential

OVERVIEW

Property Highlights: Type: 30-room motel with an approximately 3,200-square-foot single-family home on site. Development Opportunity: This property presents a compelling value-add opportunity for investors with vision. While currently operating as a motel, the site may offer future potential for conversion to alternative residential uses—such as transitional housing, workforce housing, or community-based care—subject to buyer investigation and approvals. Sample Renovation Scenario (Hypothetical Only): A potential redevelopment concept includes a $400,000 renovation budget—$10,000 per room for upgrades and $100,000 to convert the house into a shared common area with a commercial kitchen. This hypothetical model is provided solely for discussion and has not been reviewed, approved, or endorsed by any local or state agency. Financial Illustration (For Informational Purposes Only): Projected Gross Revenue: $378,000/year (based on $1,500/month per bed at 70% occupancy) Estimated Net Operating Income (NOI): $151,200/year Illustrative Value: At a 12% cap rate, this model suggests a post-renovation valuation of ~$1,260,000 Additional Features: The on-site home may serve as a common area, staff housing, or potential additional revenue stream (depending on use). Ample parking and existing room layout offer flexible design options. Important Disclaimers: This property is being sold as-is. All financial figures, renovation concepts, and valuation estimates are entirely hypothetical and for illustrative purposes only. No representations are made regarding permitted use, future income, or suitability for any specific program or licensing model. Buyers must conduct independent due diligence, including but not limited to zoning, licensing, renovation feasibility, and regulatory requirements at the local, state, and federal level. There is no guarantee that any future use—such as a sober living facility—would be allowed or approved.

FOR SALE DETAILS

PRICE

$770,000 USD

PRICE/SF

$68 USD /SF

# OF ROOMS

30

PRICE/ROOM

$25,667 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sterling Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

COMMERCIAL

APN/PARCEL ID

34-705-0450

ASK ABOUT THIS PROPERTY

Ben DoaneDwell Realty GroupMore Info
507-279-2266

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Ben DoaneDwell Realty GroupMore Info
507-279-2266

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.