Motel with Indoor
For Sale
$6,500,000
435 16th Avenue NW, Rochester, MN 55901
The 118 guestrooms include refrigerators and microwaves, alongside an attached Famous Dave’s BBQ restaurant.
Property Size97,679 SF
Lot Size4.04 Acres
Price / SF$66.54
Days on Market530
Property Features for 435 16th Avenue NW
General Information
Standard status
Active
Size
97,679 SF
Lot size
4.04 Acres
Property subtype
Commercial
Zoning
Business/Commercial
Site & Location
Neighborhood
Folwell
Taxes and HOA fees
Annual Taxes
$111,884
Building Details
Building Size
97,679 SF
Year Built
1971
Stories
3
Units
118
Listing Agency:
Home Crown Realty LLC
(218) 584-5350
Listed By:
Brandyn Dahl
(701) 238-0902
Source:
Homecrownrealty
Added: May 14, 2025
Changed: Oct 24
Last Checked: Oct 23 at 8:33PM
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 Home Crown Realty LLC
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Investment Insights
Based on property information with market context.
This Rochester motel has 118 guestrooms, each equipped with a refrigerator and microwave. Recreational amenities include two indoor swimming pools, a waterslide and a fitness center open 24 hours a day. An attached Famous Dave’s BBQ restaurant is part of the property, which was built in 1971 and occupies 4.04 acres. The zoning is Business/Commercial.
Mayo Clinic and its Saint Marys Campus hospital are described as a short walk or a five-minute drive away. Olmsted Medical Center at Miracle Mile is also within walking distance, and American Cancer Society’s Hope Lodge is one mile from the property. The site fronts both Civic Center Drive and 16th Avenue NW.
Mayo Clinic and its Saint Marys Campus hospital are described as a short walk or a five-minute drive away. Olmsted Medical Center at Miracle Mile is also within walking distance, and American Cancer Society’s Hope Lodge is one mile from the property. The site fronts both Civic Center Drive and 16th Avenue NW.
Key Highlights
- 118 guestrooms with refrigerators and microwaves
- Two indoor swimming pools, a waterslide and a 24‑hour fitness center
- Attached Famous Dave’s BBQ restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$587,949
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,758,980
$11.8M
Cap Rate 7%
$8,399,271
$8.4M
Cap Rate 9%
$6,532,767
$6.5M
Market Conditions
NOI Build-Up for 97,679 SF
Gross rent
$1.41M $14.40/SF
− Vacancy
−$168.8K −$1.73/SF
EGI
$1.24M $12.67/SF
− OpEx
−$649.8K −$6.65/SF
NOI
$587.9K $6.02/SF
Area
Rochester, MN
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,758,980
Cap Rate 7%
$8,399,271
Cap Rate 9%
$6,532,767
Alternative Uses
Best Use
Specialty Retail
$18.37M
$16.07M – $21.43M
NOI $1,285,700 @ 7.0% cap · market cap 19.78%
Second Best
Hotel Hospitality
$8.40M
$7.35M – $9.80M
NOI $587,949 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$37.62M
$32.92M – $43.89M
NOI $2,633,488 @ 7.0% cap · market cap 40.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
95k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 18%
Groceries 15%
Hotels & Casinos 14%
McDonald's
Dining
27,756 visits/mo
0.3 miles
Kwik Trip
Shops & Services
16,179 visits/mo
0.5 miles
Fresh Thyme Market
Groceries
14,543 visits/mo
0.3 miles
KFC
Dining
8,397 visits/mo
0.2 miles
Homewood Suites by Hilton Mayo Clinic Area/Saint Marys Rochester
Hotels & Casinos
5,331 visits/mo
0.3 miles
Demographics for 55901, MN
58,046
Population
24,852
Households
2.3
Avg Household Size
36
Median Age
50%
College-Educated
94%
High-School Grad
33.1 sq mi
ZIP Area
1,754
Density / Sq Mi
$90,430
Median Household Income
$52,778
Median Earnings
$1,321
Median Rent
$290,000
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Center stone Plaza — Rochester, MN 55902
- Country inn — W Frontage Rd, Rochester, MN 55902
- Rochester Friendship House — 713 8th Ave SW, Rochester, MN 55902
- Homewood Suites by Hilton Rochester Mayo Clinic - Saint Marys Campus — 165 13th Ave SW, Rochester, MN 55902
- Aspen Suites — 1211 2nd St SW, Rochester, MN 55902
Frequently Asked Questions
What type of property is this?
Motel - The 118 guestrooms include refrigerators and microwaves, alongside an attached Famous Dave’s BBQ restaurant.
Where is this motel located?
The property is located at 435 16th Avenue NW Rochester, MN.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 118 guestrooms with refrigerators and microwaves; Two indoor swimming pools, a waterslide and a 24‑hour fitness center; Attached Famous Dave’s BBQ restaurant
