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    Grantsburg Inn: Motel, Apartments, Carwash Title is generated by Realmo AI

    701 & 703 State Road 70 W, Grantsburg, WI 54840

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    For Sale
    $750,000

    22-unit motel, 6 apartments, car wash, laundry on 3.14 acres.

    Type:Commercial/Industrial
    Property size:
    12,000 SF
    Lot size:
    3.14 Acres
    Price / SF:
    $62/SF
    Added:
    Sep 10, 2024
    Days on Market:
    631
    Last Refresh:
    Apr 17 at 1:08 am

    Property Features for 701 & 703 State Road 70 W

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Lot size
    3.14 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Marian Nelson
    Marian Nelson

    Listing agent Marian Nelson License #14673-90

    Listing office Crex Realty Inc

    Listing date Sep 10, 2024

    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 Crex Realty Inc

    HighLights

    • Diverse income streams from the motel, apartments, car wash, and laundry.
    • Prime location in a popular tourist area near Crex Meadows, Fish Lake Wildlife Area, and St. Croix River.
    • Most motel rooms recently remodeled with upgrades in the last two years.
    • Sizeable 3.14‑acre lot with expansion potential in the attic and basement.
    • Multiple rental units: 22 motel units (including a King Suite) and 6 long‑term rental apartments.
    • On‑site amenities include a lobby, manager's apartment, and large linen/storage room.

    Overview

    The Grantsburg Inn features a 22-unit motel, 6 apartment rentals, a car wash, and laundry facilities. It is located in a popular tourist and vacation area approximately 75 miles from the Twin Cities. The property is situated on a 3.14-acre lot. The motel includes 21 guest rooms with Queen or King beds: 18 double Queen rooms, 2 Quad Queen rooms, and 1 King Suite Room. It also has a lobby, a manager's apartment, a large linen room, and additional storage. There is extra space in the unfinished attic and basement for future expansion. The 6 auxiliary apartments are rented as long-term rentals. The property is located within 1-2 miles of the Crex Meadows and Fish Lake Wildlife area, and about 4 miles from the St. Croix River. Most rooms have been recently remodeled, and the seller has made a number of upgrades in the last two years. The property size is 12000 square feet.
    Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Grantsburg Inn — 703 WI-70, Grantsburg, WI 54840

    Location Insight

    • Map
    • Local Demand
    City
    Grantsburg
    County
    Burnett
    State
    Wisconsin
    Longitude
    -92.6989365
    Latitude
    45.772209

    Nearby Similar for Sale

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    • $750,000
      12,000 SF

      Grantsburg Inn: Multifaceted Investment Opportunity

      Motel, apartments, car wash, and laundry in tourist destination.
      701 & 703 State Road 70 W, Grantsburg, WI 54840
      View Details
    • $829,900
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      Turnkey Dog Business on 5 Acres

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    FAQs

    What type of property is this?
    Motel - 22-unit motel, 6 apartments, car wash, laundry on 3.14 acres.
    Where is this motel located?
    The property is located at 701 & 703 State Road 70 W Grantsburg, WI.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Diverse income streams from the motel, apartments, car wash, and laundry.; Prime location in a popular tourist area near Crex Meadows, Fish Lake Wildlife Area, and St. Croix River.; **Most motel rooms recently remodeled** with upgrades in the last two years.
    (651) 249-3418
    We can help!
    Listing Contact
    Marian Nelson
    Marian Nelson
    Real Estate License ID: 14673-90
    Learn More
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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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