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402 N Lake Street

Lake Mills, IA 50450
  • $145,000
  • STATUS: Pending
  • ON SITE: 63 Days
  • MLS #: 6303146
Pending
UPDATED: 32 min ago
$145,000
  • 0
    BEDS
  • 0.49
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Business Opportunity
Built:
1958
County:
Area:

School Ratings & Info

Description

Have you been looking for a new business opportunity? This 10 unit motel is now for sale! The motel features 10 units currently, 7 of which are 1BR/1BA and 3 that are 2BR/1BA. Current nightly rates are $60 and $70 respectively. Several of the rooms feature newer tiled zero entry showers. Some have newer flooring. There is a central lobby where a simple breakfast is provided to the guests. Behind the motel there are living quarters for the Owner/Manager that also comes with one stall garage on the N end of the motel. This motel is located on a very busy street with great exposure. There is SOO much untapped potential for this business! Lots of opportunity to fix up and rent as apartments, motel, or Air BNB.

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© 2022 North Central Iowa MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Jane Fischer & Associates. Data last updated: 2022-12-09T10:54:22.48.
www.janefischer.com/homes/133724536
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402 N Lake Street Lake Mills, IA 50450

  • Price: $145,000
  • Status: Pending
  • On Site: 63 Days
  • Updated: 32 min ago
  • MLS #: 6303146
0
Beds
0
Baths
0
½ Baths
0.49
Acres
1958
Built
County:
Winnebago
Area:
Lake Mills
Property Description
Have you been looking for a new business opportunity? This 10 unit motel is now for sale! The motel features 10 units currently, 7 of which are 1BR/1BA and 3 that are 2BR/1BA. Current nightly rates are $60 and $70 respectively. Several of the rooms feature newer tiled zero entry showers. Some have newer flooring. There is a central lobby where a simple breakfast is provided to the guests. Behind the motel there are living quarters for the Owner/Manager that also comes with one stall garage on the N end of the motel. This motel is located on a very busy street with great exposure. There is SOO much untapped potential for this business! Lots of opportunity to fix up and rent as apartments, motel, or Air BNB.
Exterior Features

Exterior Vinyl Lot Size Dimensions 0.49 Acres Parking Characteristics Attached GaragePaved Lot Parking Open 10

Interior Features

Air Conditioning Window Building Finished Sqft 3366 Heating Baseboard

Property Features

Accessible No Stairs External Auction Yn No Available Utilities Electric CommonHeating Common Current Use Hotel/Motel Fuel ElectricNatural Gas In Foreclosure No Lender Owned No Municipality Lake Mills Potential Short Sale No Potential Use IncomeMotel/HotelProfessionalRest/Lounge Sale Rent For Sale Sewer City Sewer/Connected Style Business Tax Year 2020 Taxes 2588 Water City Water/Connected Yearly Seasonal Yearly

Listing information © 2022 North Central Iowa MLS.
Listing provided courtesy of Marisa Koppen of Realty One Group Black Diamond: 641-592-2665.



© 2022 North Central Iowa MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Jane Fischer & Associates. Data last updated: 2022-12-09T10:54:22.48.
 
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Jane Fischer & Associates
1002 East State St. Suite B
Mason City IA, 50401