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    154 Lake Ave Spicer, MN 56288

    Sponsored
    For Sale
    $1,975,000

    Lakefront Hotel, 31 Keys, Turnkey

    Description

    Added:
    Feb 11, 2025
    Days on Market:
    331
    This 31-key SureStay by Best Western hotel in Spicer, Minnesota, presents a lucrative investment opportunity. Boasting a prime location across from Green Lake, a popular resort destination, and adjacent to Zorbaz on the Lake, a thriving restaurant and bar, this property benefits from a high-end tourist market. The hotel, built in 1985 and extensively renovated between 2022 and 2024, features 31 rooms, including nine suites, an indoor pool and spa, and a newly added conference room. Recent renovations included new beds, TVs, paint, carpeting, a guest laundry, updated public restrooms, a remodeled pool area, and a new commercial kitchen to support the recently implemented hot breakfast service. The 43,560 sq ft lot provides ample space, complemented by 41 parking spaces. The hotel currently operates at 40% occupancy, generating $615,000 in room revenue through January 2025. This turnkey operation is situated on Lake Ave S, one block from Highway 23, offering convenient access to major transportation routes. The property is zoned commercial and presents a strong return on investment in a desirable location. The hotel's amenities include an indoor pool with a spacious deck and vaulted ceiling, several poolside rooms with balconies, and a comfortable lobby with a premium breakfast bar. This is a fully renovated, well-maintained property ready for a new owner. The property's APN is 85.250.0010. The asking price is $1,975,000.

    Property Features for 154 Lake Ave

    General Information

    Property type
    Hotels

    Building Details

    Year Built/Renovated
    1985/2022
    Buildings
    1
    Stories
    2

    HighLights

    • $1,975,000 asking price for a Best Western SureStay Hotel in Spicer, Minnesota.
    • 31‑key hotel with 49 beds, currently operating at 40% occupancy.
    • Recently renovated (2022‑2024), offering a turnkey operation.
    • Features include an indoor pool, spa, and poolside rooms commanding premium rates.
    • Located in a prime tourist market near Green Lake and Zorbaz on the Lake.
    • Sits on a 43,560 sq ft lot with 41 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    SureStay By Best ... Hotel Anchest Auto Glass ... Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spicer
    County
    Kandiyohi
    State
    Minnesota
    Longitude
    -94.9377767
    Latitude
    45.2300306

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Hotel - Lakefront Hotel, 31 Keys, Turnkey
    Where is this hotel located?
    The property is located at 154 Lake Ave Spicer, MN.
    What is the asking price?
    The asking price for this property is $1,975,000.
    What are key features of this property?
    This property features: $1,975,000 asking price for a Best Western SureStay Hotel in Spicer, Minnesota.; 31-key hotel with 49 beds, currently operating at 40% occupancy.; Recently renovated (2022-2024), offering a turnkey operation.
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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
    154 Lake Ave Spicer, MN 56288
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