For Sale: Northfield MLS# 6653353
Active
$1,400,000
Commercial: Business Opportunity
Built 1950
2 acres
Northfield schools
MLS# 6653353
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Property Description
Extended Stay Hotel investment opportunity in the vibrant and growing city of Northfield, MN. This 26 key extended-stay motel offers a range of flexible revenue streams with options for nightly, weekly, or monthly rentals. Capital Improvements within the past 5-7 years, include a new roof, siding, electrical system, windows, water heater, and a resurfaced parking lot.
Northfield is a charming community with a population of over 21, 000 and steady annual growth of 0.4%. Northfield is home to St. Olaf College and Carleton College, along with significant employers like Northfield Hospital + Clinics, and Malt-O-Meal (Post Consumer Brands).
The city's growing population, coupled with its strong employer base, ensures consistent demand for extended-stay accommodations.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,400,000
Property Type:
Commercial
City:
Northfield
Garage Spaces:
1
County:
Rice
Year Built:
1950
State:
MN
Property Style:
Business Opportunity
Zip Code:
55057
Subdivision Name:
Schjeltown
Exterior
Garage Spaces:
1
Other Parking Spaces:
40
Foundation Size:
9,051 ft2
Handicap Accessible:
No Stairs Internal
Heating System:
- Boiler
- Other
Parking Features:
- Asphalt
- Attached Garage
- Parking Lot
Exterior Material:
- Aluminum Siding
- Metal Siding
Lot & Land
Acres:
2
Geolocation:
44.468698, -93.158523
Inclusions:
Building, Business Assets, Business, Fixture/Equipment, Leases
Lot Dimensions:
245 x 352
Zoning:
Business/Commercial
Schools
School District:
659
District Phone:
507-663-0629
Expenses
Annual Gross Expense:
$163,000
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$17,422
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$17,422
Income
Annual Gross Income:
$281,000
Rent
Annual Net Income:
$118,000
Units
Total Units:
26
Miscellaneous
Current Use:
- Hotel/Motel
- Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Re/Max Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.