801 State Ave NE

• 76 units/ 2 stories
• Full service
• 2.3 x Gross Revenue Multiplier
• Listing includes adjacent vacant parcel
• Restaurant/Lounge with exceptional revenue located on site
• 2023 Room Revenue: $1,884,306, 2023 Gross Revenue: $3,092,537
• 2023 NOI: $1,118,811
• 14.53% 2023 Cap Rate
• Substantial CapEx Completed
• Construction underway for an Event Center along the Warroad River
• Motivated Seller

Property Description

The Bowman Post Group of NewGen Advisory is pleased to present for sale The Patch Lodge located in Warroad, MN along with a lucrative restaurant and grill called Izzy's. This property is well located off Minnesota State Highways 11 and 313. The Patch Lodge is just 2 miles from the Warroad Memorial International Airport and 7.5 miles south of the Canadian border, making this property a convenient stop for many travelers.