154 Lake Ave Spicer, MN 56288

Property Details for 154 Lake Ave

Property type

Commercial real estate

APN

85-250-0010

APU

852500010

Description

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.

Location Insight

City

Spicer

County

Kandiyohi

State

Minnesota

Longitude

-94.9375

Latitude

45.2299

CBSA code

48820

CBSA name

WILLMAR, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments