1955 N 1st Avenue Windom, MN

Location

1955 N 1st Avenue Windom, MN

Asking Price

$990,000

Overview

Finished Square Feet 0
Bedrooms
Bathrooms
Garages stall(s)
School District
Type Business Opportunity
Stories
Roof Type
Exterior Type

Description

CALLING HOSPITALITY INVESTORS! Motel business for sale in south central Minnesota. Highway visibility with three buildings/ 39 units (32 with attached garages). Approximately half of the units have been remodeled. Prime redevelopment opportunity for apartments, assisted living or other extended-stay uses. Appraised for $1, 900, 000 (2015); Financials available upon request with nondisclosure consent. Highlights: 3 Buildings; 39 Units (32 w/attached garages) Redevelopment Opportunity Main Building with Lobby, Breakfast Area, Laundry, Restrooms, Front Desk Excellent Price! Opportunity Zone investment - Move the gains from your taxable investment (real estate, stock and business sales) and defer all gains until 2026. Eliminate 15% of your capital gains if funds held in opportunity zone for 7 years. Hold investment for 10 years and exclude accured capital gains. Location More than 13, 500 VPD drive by this Motel. Highly visible location from First Avenue - just North of State Highway 60. 120 Miles Southwest of Minneapolis/Twin Cities Metro, 60 miles southwest of Mankato. Windom's population is 4.646 and is the county seat of Cottonwood County. Windom is host to several parks including a disc golf course at Mayflower Park. The Des Moines River flows through Windom and serves as a gentle, rapid-free canoeing spot. Annual summer festival, Riverfest, is held on the second weekend in June and Winter-River-Fest is held in February, bringing visitors in from south central Minnesota.