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Additional details
$699,990
Est. payment /mo
0.79 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 7042016
Year Built 1950
Annual Tax Amount $5,911
Tax Year 2025
Contingent None
Lot Size 0.786 Acres
Acres 34238.16
Lot Dimensions 185.5x185.5
Property Description
Huge opportunity to acquire a high-visibility commercial property along Oakland Ave in Austin, MN offering multiple paths to value creation. Situated on approximately 0.78 acres with nearly 200 feet of hospitality operators.
The site is currently operating as a motel, offering the potential for a buyer to continue the existing hospitality use, reposition the asset, or pursue a future redevelopment of the site.
Adding to the uniqueness of the property, a large single-family home sits near the center of the lot featuring 3 bedrooms and 2.5 bathroom, creating additional possibilities for on-site management housing, rental income, owner occupancy, or future redevelopment plans.
The property has also benefited from key capital improvements, including a roof and furnace installed within the past five years, offering added value and stability for investors.
Zoned B-2 community business, the property allows for a wide variety of commercial uses included retail, service businesses, hospitality, office, and other commercial development. this flexible zoning creates multiple opportunities for investors looking to capitalize on future growth along this corridor.
Further strengthening the investment potential, a building directly directly across Oakland Ave is currently being converted into a 22-unit multifamily development, highlighting the ongoing investment and redevelopment take place in the immediate area.
Whether the next owner chooses to continue operating the motel, utilize the on-site residence, reposition the property, or redevelop the site entirely, this offering presents a compelling opportunity to control a well-located commercial parcel with strong and long term upside.
The site is currently operating as a motel, offering the potential for a buyer to continue the existing hospitality use, reposition the asset, or pursue a future redevelopment of the site.
Adding to the uniqueness of the property, a large single-family home sits near the center of the lot featuring 3 bedrooms and 2.5 bathroom, creating additional possibilities for on-site management housing, rental income, owner occupancy, or future redevelopment plans.
The property has also benefited from key capital improvements, including a roof and furnace installed within the past five years, offering added value and stability for investors.
Zoned B-2 community business, the property allows for a wide variety of commercial uses included retail, service businesses, hospitality, office, and other commercial development. this flexible zoning creates multiple opportunities for investors looking to capitalize on future growth along this corridor.
Further strengthening the investment potential, a building directly directly across Oakland Ave is currently being converted into a 22-unit multifamily development, highlighting the ongoing investment and redevelopment take place in the immediate area.
Whether the next owner chooses to continue operating the motel, utilize the on-site residence, reposition the property, or redevelop the site entirely, this offering presents a compelling opportunity to control a well-located commercial parcel with strong and long term upside.
Location
State MN
County Mower
Zoning Business/Commercial
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building, Business, Fixture/Equipment, Inventory, Land
Fireplace No
Appliance Dryer, Microwave, Refrigerator, Washer, Water Softener Rented
Exterior
Parking Features Attached Garage, Parking Lot, Paved Lot
Garage Spaces 1.0
Utilities Available Electric Common
Roof Type Age 8 Years or Less
Present Use Hotel/Motel
Building
Foundation 1
Sewer City Sewer/Connected
Water City Water/Connected
New Construction false
Schools
School District Austin
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Listed by Diego Correa Bravo • Re/Max Results
Nearby School & Business
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