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Sold
Sold
$950,000  (list price)
$950,000
/mo   Edit
MLS# 5029357
Commercial
Built 1969
1.51 acres
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    Description:   Great owner-operator Motel, Independently owned 49 room Motel with spacious 3 bedroom living quarters.Located on a highly visible, high traffic count, main roadway in Albert Lea MN, easy access to I-35 & I-90.Close to restaurants and convenience store. 15 min from Casino. Motel offers continental breakfast, refrigerator, microwave and air conditioning in all rooms plus wireless internet access.
    List Price: $950,000
    Sold Price: $950,000
    Sold Date: 07/14/2020
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Sold
    Contingency: None
    Property Style: Other
    Year Built: 1969
    City: Albert Lea
    County: Freeborn
    State: MN
    Zip Code: 56007

    Interior

    Building Fin Sq Ft: 15,554 ft²

    Exterior

    Air Conditioning: Ductless Mini-Split
    Heating System: Space/Wall Heater
    Foundation Size: 15,554 ft²
    Road Frontage: City
    Handicap Accessible: None
    Exterior Material: Vinyl
    Garage Spaces: 50
    Other Parking Spaces: 55
    Roof Details: Asphalt Shingles

    Lot

    Acres: 1.51
    Latitude: 43.65382900
    Longitude: -93.33952100
    Lot Size Dim.: 220x300
    Zoning: Business/Commercial

    Schools

    School District: 241 - Albert Lea
    District Phone: 507-379-4800

    Expenses

    Owner Expenses: Broadband, Cable T.V.

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $11,913
    Assessment Pending: Yes
    Taxes w/ Assessments: $12,374

    Unit

    Total Units: 49

    Miscellaneous

    Current Use: Hotel/Motel
    Fuel System: Electric
    Owner Occupied: Y
    Sale Includes: Building, Business, Land, Other
    Sewer System: City Sewer/Connected
    Utilities: Heating Separate, Electric Separate, Hot Water Separate
    Water System: City Water/Connected

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    Get to know our Home Mortgage Professionals

    Justin
    Larson
    Movement
    Jeff
    Zajac
    TruStone
    Jason
    Roaldson
    CrossCountry
    Justin Larson
    Loan Officer
    Movement Mortgage NMLS#1490922
    Justin, the "Mortgage Man", is a senior loan officer who works with one of the nation top mortgage companies, Movement Mortgage! Justin has a dedicate team to streamline the home loan process. As a Veteran of Operation Iraqi Freedom and Eagle Scout he has a "service to others" attitude that put him well above his peers in the mortgage industry. Honesty, trust and friendship through solid and open communication is how he has built his success in the industry. The American Dream of owning a home is one of the largest purchases of most people lives. It’s a long process that can be frustrating, scary, and really confusing. He experienced this when purchasing his first couple of homes and looking back he wished he had a friend that would take the time to educate him on the best options for him and his family. This is the driving force of why I got into this industry.
    320-296-9177

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    Listing provided by RMLS, courtesy of Leland Realty, Inc.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.