200 E State 28 Hwy - Hospitality FOR SALE


Morris, MN 56267
$3,995,000 USD
651-492-0563
200 E State 28 Hwy, Morris, MN for Sale
$3,995,000 USD
Hospitality - FOR SALE
1/29
null | Request Cap Rate

200 E State 28 Hwy
Morris, MN 56267


HIGHLIGHTS

  • 3.99x Revenue Multiplier; $43,424/key
  • Turnkey Opportunity: Over $3M invested in improvements over the past couple of years
  • Significant Upside on Revenue: Only a portion of the hotel rooms have been available to be rented since the hotel opened in March, 2023
  • Low Supply in Market: Morris, MN's only full-service hotel offering 92 keys, including jacuzzi suites and kitchenettes
  • Good Candidate for a Flag: The hotel can continue to be operated as an independent hotel, and it is also well-qualified to be flagged
  • Development Upside: Development potential exists on the nearly 6 acre lot. Conversion to rehabilitation center or multifamily is possible.

OVERVIEW

SVN | Northco is pleased to present, as exclusive advisor to ownership, The Hudson Inn in Morris, MN ("Property"). The Property features 92 keys, including rooms and suites with jacuzzi's and kitchenettes, with amenities such as a full-size swimming pool, hot tub, kids' pool, bar & restaurant, and two versatile event centers perfect for weddings and accommodating large groups. The hotel rooms are equipped with flat-screen TVs, mini-fridges, microwaves, and free high-speed Wi-Fi. Guests can enjoy a continental breakfast each morning, and the bar/restaurant is open daily. The hotel has undergone significant updates in the past few years including (but not limited to): new roof, new insulation, rebuilding 25 rooms completely, all new electrical systems, new PTAC systems in each room, all new windows and siding, new common area heating and cooling systems, new high efficiency water heaters, all new internet and phone systems, new pool systems, and much more. The Hudson Inn is committed to bringing life back into this beautiful building, creating a space for laughter and memories, while serving both guests and the community. The hotel is conveniently located on Highway 28, just half a mile from the University of Morris.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$60 USD /SF

# OF ROOMS

94

PRICE/ROOM

$42,500 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Hudson Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1972

PARKING SPACES

225

LAND DETAILS

LAND ACRES

5.96 AC

LAND SF

259,618 SF

ZONING

HD

APN/PARCEL ID

20-0056-000

ASK ABOUT THIS PROPERTY

Ned RuppSVN | Northco Real EstateMore Info
651-492-0563

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Ned RuppSVN | Northco Real EstateMore Info
651-492-0563

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.