Accessible Hotel with
For Sale
Contact for pricing
16776 198th Ave NW, Big Lake, MN 55309
Guest accommodations include varied room configurations and two-bedroom manager quarters.
Property Size16,500 SF
Price / SF$106.06
Days on Market155
Property Features for 16776 198th Ave NW
General Information
Standard status
Active
Size
16,500 SF
Total Parking Spaces
42
Property subtype
Hospitality
Occupancy
71%
Amenities
handicap accessible
elevator
55-inch TV in all rooms
Jacuzzi
manager's quarters
family room
Building Details
Year Built
2008
Buildings
1
Listing Agency:
Restaurant Brokers of Minnesota
Listed By:
dj sikka · License #MN655772
(612) 701-6296
Source:
Crexi
Added: May 16
Changed: Oct 7
Last Checked: Oct 16 at 8:58AM
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 Restaurant Brokers of Minnesota
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Investment Insights
Based on property information with market context.
This 16,500-square-foot hotel includes an elevator serving the second story and accessible features. Guest accommodations comprise 2 Kings with Jacuzzi, 15 rooms with Double Queen, 15 King, and 1 family room. The property also includes 2 bedroom quarters for a manager.
Recent property improvements include a new roof, new water heater, new 55” TVs in all rooms, and new HVAC serving the hallways in 2025. The hotel does not have a pool. The property is located at 16776 198th Avenue in Big Lake, Minnesota 55309.
Recent property improvements include a new roof, new water heater, new 55” TVs in all rooms, and new HVAC serving the hallways in 2025. The hotel does not have a pool. The property is located at 16776 198th Avenue in Big Lake, Minnesota 55309.
Key Highlights
- 16,500 SF hotel with elevator access to the second story
- Room mix includes 2 Kings with Jacuzzi, 15 rooms with Double Queen, 15 King, and 1 family room
- 2 bedroom manager quarters included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,867
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,057,340
$2.1M
Cap Rate 7%
$1,469,529
$1.5M
Cap Rate 9%
$1,142,967
$1.1M
Market Conditions
NOI Build-Up for 16,500 SF
Gross rent
$247.5K $15.00/SF
− Vacancy
−$30.9K −$1.88/SF
EGI
$216.6K $13.13/SF
− OpEx
−$113.7K −$6.89/SF
NOI
$102.9K $6.23/SF
Area
Sherburne County, MN
Vacancy
12.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,057,340
Cap Rate 7%
$1,469,529
Cap Rate 9%
$1,142,967
Alternative Uses
Best Use
Hotel Hospitality
$1.47M
$1.29M – $1.71M
NOI $102,867 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.44M – $4.59M
NOI $275,559 @ 7.0% cap · market cap 15.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
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Business Placement
Demographics for 55309, MN
20,387
Population
7,541
Households
2.7
Avg Household Size
35
Median Age
31%
College-Educated
95%
High-School Grad
62.3 sq mi
ZIP Area
327
Density / Sq Mi
$118,387
Median Household Income
$56,262
Median Earnings
$1,463
Median Rent
$335,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - Guest accommodations include varied room configurations and two-bedroom manager quarters.
Where is this hotel located?
The property is located at 16776 198th Ave NW Big Lake, MN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 16,500 SF hotel with elevator access to the second story; Room mix includes 2 Kings with Jacuzzi, 15 rooms with Double Queen, 15 King, and 1 family room; 2 bedroom manager quarters included
