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    1208 Elm Ave Waseca, MN 56093

    For Sale
    $650,000

    Prime Waseca investment: Motel, home, lake views.

    Property size:
    1,616 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional Waseca, Minnesota property presents a unique investment opportunity. The offering encompasses a thriving 5-unit extended-stay motel and a charming 3-bedroom home, all situated on a spacious 2.7-acre lot boasting stunning Clear Lake views. The motel, a consistently profitable business, features remodeled rooms including three efficiency units and two one-bedroom units, each with a private patio. On-site laundry facilities add to the convenience. The motel enjoys a high occupancy rate with a mix of regular and seasonal clientele, all under month-to-month agreements. The accompanying home showcases attractive architectural details such as curved archways and a stacked stone fireplace, complemented by updated kitchen and bathrooms, hardwood floors, and built-in hutches. A large, heated two-car garage provides ample storage. The expansive lot offers significant potential for expansion, with the addition of further amenities or rental units. A second curb cut on Elm Avenue enhances accessibility. Located in the picturesque town of Waseca, the property is conveniently close to numerous lakes, camping areas, and biking trails. Meticulously maintained, this turnkey operation is poised for immediate success, offering a substantial return on investment with the potential for the business to cover mortgage payments. This is a rare chance to acquire a profitable, established business with significant upside potential in a desirable location.

    Property Features for 1208 Elm Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,616 SF
    Lot Size
    117,612 SF

    Building Details

    Year Built
    1960
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Waseca
    County
    Waseca
    State
    Minnesota
    Longitude
    -93.48921
    Latitude
    44.07646

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Waseca investment: Motel, home, lake views.
    Where is this commercial real estate located?
    The property is located at 1208 Elm Ave Waseca, MN.
    What is the asking price?
    The asking price for this property is $650,000.
    (651) 272-4688
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    Realmo Value Estimation

    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.

    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.

    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
    1208 Elm Ave Waseca, MN 56093
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