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

    960 2nd NW Street Aitkin, MN 56431

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    38-room hotel featuring an indoor pool, available for sale.

    Type:Commercial/Industrial
    Lot size:
    2.03 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 5 at 11:11 pm

    Property Features for 960 2nd NW Street

    General Information

    Standard status
    Active
    Lot size
    2.03 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    Andrew C. Weitnauer

    Listing agent Andrew C. Weitnauer

    Listing office Wits Realty

    Listing date Mar 12, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Wits Realty

    Overview

    38-Room Hotel with Indoor Pool

    This property features a 38-room hotel with an indoor pool. Please note that the event center is not included in the sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    40 Club Inn Hotel & Motel Aitkin Minnesota Restaurants Bar & Pub

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Aitkin
    County
    Aitkin
    State
    Minnesota
    Longitude
    -93.7262
    Latitude
    46.534

    Nearby Similar for Sale

    • $59,000

      Sherwood Forest Campground Lots

      Two lots with furnished trailer and guest house in campground.
      N3-6 & N3-5 Sherwood Forest, Hazelton Twp, MN 56431
      View Details
    • $899,000

      Mille Lacs Lake Resort Property

      Income-generating resort property on Mille Lacs Lake with expansion potential.
      44033 Conifer Street, Hazelton Twp, MN 56431
      View Details
    • $35,000

      Land with Park Trailer Included

      Land in Sherwood Forest with amenities and park trailer.
      Blk 8 Lot 1 Canterbury Town, Hazelton Twp, MN 56431
      View Details
    • $1,450,000

      Lakefront RV Resort & Investment

      Profitable RV resort with lakefront residence and restaurant.
      42206 438th Lane, Aitkin, MN 56431
      View Details
    • $1,200,000

      Aitkin Hotel with Indoor Pool

      38-room hotel in Aitkin, MN, with an indoor pool.
      960 2nd Street NW, Aitkin, MN 56431
      View Details
    • $799,000
      4,400 SF

      Established Tavern Eatery on 3 Acres

      Well-established tavern and eatery on over 3 acres of land.
      26838 US Highway 169, Aitkin, MN
      View Details
    • $285,000
      7,500 SF

      Aitkin Lanes Bowling Alley

      Aitkin Lanes: a local staple for fun and food.
      104 4th St NE, Aitkin, MN
      View Details
    • Contact for pricing
      21,002 SF

      Commercial Building in Aitkin, Minnesota

      21,002 SF commercial building on 1.45 acres for sale.
      10 4th St SE, Aitkin, MN
      View Details

    FAQs

    What type of property is this?
    Hotel - 38-room hotel featuring an indoor pool, available for sale.
    Where is this hotel located?
    The property is located at 960 2nd NW Street Aitkin, MN.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 38 Room Hotel; Enjoy the Indoor Pool; Built in 1990
    (612) 444-5507
    We can help!
    Listing Contact
    Andrew C. Weitnauer
    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!