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109 N State Ave
Warroad, MN 56763

$11,385,195 USD

Hotel For Sale  •  38,444 SF

Property Details

  • Property Type Hotel
  • Total Building Size 46,861 SF
  • Lot Size 2.45 AC
  • Building Class B
  • Year Built 2021
  • Zoning C
30 Walk Score

Description

Situated in Warroad, MN, nestled within the scenic northwestern corner of the state, this property radiates a picturesque allure against the stunning backdrop of Lake of the Woods. Situated near the Canadian border, this small town boasts scenic beauty and a rich history. With its proximity to the lake, Warroad o?ers abundant opportunities for outdoor recreation, including fishing, boating, and water sports during the warmer months, and ice fishing and snowmobiling in the winter. The town is also renowned for its hockey culture (it is known as
"Hockeytown USA"), producing numerous NHL players and hosting the annual Hockey Day Minnesota event. Visitors can explore local shops, enjoy delicious dining options, and immerse themselves in the warm hospitality of this close-knit community.

The RiverPlace Cultural Art and Event Center serves as a dedicated venue for displaying cultural artwork and organizing a variety of events within the town of Warroad, Minnesota. This center serves as a hub for cultural activities, such as art exhibitions, performances, workshops, and community gatherings. Additionally, the center hosts events that celebrate the cultural heritage of the area and promote cultural exchange and understanding among residents and visitors alike.

Proximity to larger cities:
200 miles northeast of Fargo, ND
200 miles southeast of Winnipeg, MB
250 miles northwest of Duluth, MN
360 miles northwest of Minneapolis, MN

Airports nearby include Warroad International Memorial Airport (3 miles), Thief River Falls Regional Airport ( 88 miles), Winnipeg James Armstrong Richardson International Airport (130 miles), and Hector International Airport (216 miles).

Highlights

10% Cap Rate (2025 EBITDA + Annual Assumable Debt Benefit) | Hampton Inn By Hilton Warroad located in Warroad, MN, famously known as "Hockeytown USA"
Recently built hotel, completed in 2021, prime location next to the RiverPlace Cultural Arts & Event Center, expected to draw 30,000 visitors/year
The Property contains 66 keys and a variety of room types to accommodate a wide range of guests
Annual TIF benefit through 2030 of approximately $80,000 per year
Assumable financing for qualified prospects ($7.75M balance at a 4% interest rate with a 2032 balloon payment)

Property Flyers

Amenities

  • Business Center
  • Fitness Center
  • Pool
  • High Speed Internet Access
  • Patio
  • Meeting Event Space
  • Public Access Wifi
  • Smoke-Free
  • Hot Tub
  • Digital key

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 90
Type: Surface
Included in Rent: Yes
Frank Jermusek 612-385-5546 SVN | Northco Real Estate
Frank Jermusek 612-385-5546 SVN | Northco Real Estate