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    Extended-Stay Hotel with Restaurant Title is generated by Realmo AI

    101 N Broadway Street, Watertown, SD 57201

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    Claim this Listing
    New
    For Sale
    $1,875,000

    COMMERCIAL - Watertown, SD

    Property size:
    35,976 SF
    Price / SF:
    $52/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 101 N Broadway Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    35,976 SF

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    LOT 1 LESS LOT H1 & LOT 2 LITTLE RIVER CITY ADD
    Tax Annual Amount
    14062

    Building Details

    Year built
    1964

    We can help!

    Listing Contact
    Jason Goette
    Jason Goette

    Listing agent Jason Goette License #17528

    Listing office SoDak Realty LLC 13 9th Ave SE, Watertown, SD

    Listing date Jun 3, 2026

    MLS# 26-173

    Copyright © 2026 Aberdeen 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.

    HighLights

    • Turnkey, income‑producing extended‑stay property in downtown Watertown.
    • Leased on‑site restaurant provides steady income.
    • Upstairs event space with bar and dance floor is perfect for private events.
    • Adjacent vacant lot offers potential for future development/expansion.
    • Updated guest rooms designed for comfort and flexibility.
    • High‑visibility location near dining, shopping, and attractions.

    Overview

    The Guest House on Broadway is a turnkey extended-stay hospitality property featuring updated guest rooms built for short-term stays. The building also includes a leased on-site restaurant, providing an operating component within the property. Upstairs, there is an event space with a bar and a dance floor, supporting private events, parties, and community gatherings.

    Located at 101 N Broadway Street in downtown Watertown, South Dakota, the property is positioned in a high-visibility area near dining, shopping, and local attractions. In addition to the primary building, there is an adjacent vacant lot that can support future development, expanded lodging, or additional parking, depending on an owner’s plans.

    This setup suits an owner-operator or investor looking for a hospitality platform that combines lodging with an on-site restaurant and flexible event space. The presence of updated rooms and a dedicated event area may appeal to operators seeking to run multiple types of revenue-generating activity from one location. The adjacent lot further supports long-range flexibility for potential expansion or parking needs based on the buyer’s operating strategy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Map

    City
    Watertown
    County
    Codington
    State
    South Dakota
    Longitude
    -97.115023
    Latitude
    44.902265

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    FAQs

    What type of property is this?
    Hotel - Turnkey extended-stay property with updated guest rooms, a leased on-site restaurant, and an upstairs event space.
    Where is this hotel located?
    The property is located at 101 N Broadway Street Watertown, SD.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: Turnkey, income‑producing extended‑stay property in downtown Watertown.; Leased on‑site restaurant provides steady income.; Upstairs event space with bar and dance floor is perfect for private events.
    (605) 868-2851
    We can help!
    Listing Contact
    Jason Goette
    Jason Goette
    Real Estate License ID: 17528
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    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.

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