Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1905 18th Street Spirit Lake, IA 51360

    View on Map
    Claim this Listing
    New
    For Sale
    $1,795,000

    Commercial - Spirit Lake, IA

    Lot size:
    1.09 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    7
    Last Refresh:
    Apr 16 at 12:06 am

    Property Features for 1905 18th Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0705252005
    Lot size
    1.09 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    18420.82

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Ductless

    Building Details

    Year built
    1962
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Brad Sanderson
    Brad Sanderson

    Listing agent Brad Sanderson License #B41901

    Listing office EXIT Realty Midwest 1306 18th St. Suite C, Spirit Lake, IA

    Listing date Apr 10, 2026

    MLS# 260269 Listing URL

    Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Travelodge in Spirit Lake

    This property in Spirit Lake, Iowa, presents an investment opportunity. It is a 36-room Travelodge with potential for strong income, with summer rates reaching up to $259 per night. The property features 22 rooms equipped with two king beds and 14 rooms with one queen bed. Recent updates include new carpet, furniture, and bathrooms. The property also includes manager’s quarters and a detached 2-car garage. An additional 1.089-acre lot is included, offering opportunities for future expansion. The property offers bonus space with potential for various uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Antlers Hotel — 1717 Hill Ave, Spirit Lake, IA 51360
    • In Town Suites — 1514 Hill Ave, Spirit Lake, IA 51360

    Location Insight

    • Map
    • Local Demand
    City
    Spirit Lake
    County
    Dickinson
    State
    Iowa
    Longitude
    -95.1195705
    Latitude
    43.4224635

    Nearby Similar for Sale

    • $675,000
      3,569 SF

      Restaurant with Drive-Thru For Sale

      High-traffic location, move-in ready restaurant with drive-thru and equipment.
      2209 Circle Dr W, Spirit Lake, IA 51360
      View Details
    • $749,000

      Corner Lot in Spirit Lake

      Corner lot permitted for convenience store and gas station.
      2045 Hwy 9, Spirit Lake, IA 51360
      View Details
    • $895,000
      7,196 SF

      Highway 71 Commercial Property

      Prime commercial property on Highway 71 in Spirit Lake, Iowa.
      3307 Hwy 71 S, Spirit Lake, IA 51360
      View Details
    • $675,000
      3,410 SF

      Turnkey Resort Near Big Spirit

      Fully operational resort near Big Spirit Lake with income potential.
      100 Hill Avenue, Spirit Lake, IA 51360
      View Details
    • $449,900
      6,696 SF

      Versatile Commercial Property in Spirit Lake

      Two insulated, heated buildings with showroom, office, and storage space.
      2216 15Th Street, Spirit Lake, IA 51360
      View Details
    • $900,000
      8,064 SF

      Spirit Lake Eight-Unit Apartment Building

      Well-maintained eight-unit apartment building in revitalizing downtown Spirit Lake.
      1501 Hill Ave, Spirit Lake, IA 51360
      View Details
    • $1,500,000

      Spirit Lake Storage Facility Investment

      Large-scale storage space with immediate cash flow potential.
      18 Th Street, Spirit Lake, IA 51360
      View Details
    • $139,900

      New Storage Units in Spirit Lake

      Newly constructed storage units ideal for various uses and storage.
      2311 37th Street 3, Spirit Lake, IA 51360
      View Details
    • $139,900

      New Storage Units in Spirit Lake

      Newly constructed storage units ideal for boats, vehicles, or business.
      2311 37th Street 4, Spirit Lake, IA 51360
      View Details
    • $139,900

      New Storage Units in Spirit Lake

      Newly constructed storage units ideal for boats, vehicles, and more.
      2311 37th Street 2, Spirit Lake, IA 51360
      View Details
    • $349,000
      6,120 SF

      Massive Office Building with Storage

      6,120 sq ft office building with storage for sale.
      3524 Highway 71 S, Spirit Lake, IA 51360
      View Details
    • $349,000
      6,120 SF

      Massive Office Building with Storage

      6,120 sq ft office building with storage for sale.
      3524 Highway 71 S, Spirit Lake, IA 51360
      View Details

    FAQs

    What type of property is this?
    Motel - 36-room Travelodge with income potential and expansion possibilities.
    Where is this motel located?
    The property is located at 1905 18th Street Spirit Lake, IA.
    What is the asking price?
    The asking price for this property is $1,795,000.
    What are key features of this property?
    This property features: Strong income potential with summer rates up to $259/night.; Includes an additional 1.089‑acre lot for future expansion.; Features 22 rooms with two king beds and 14 rooms with one queen.
    (712) 320-9610
    We can help!
    Listing Contact
    Brad Sanderson
    Brad Sanderson
    Real Estate License ID: B41901
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!