2315 N Broadway - Hospitality FOR SALE


Minot, ND 58703
$5,500,000 USD
701-720-1861
2315 N Broadway, Minot, ND for Sale
$5,500,000 USD
Hospitality - FOR SALE
1/64
null | Request Cap Rate

2315 N Broadway
Minot, ND 58703


HIGHLIGHTS

  • Adjacent to the Minot International Airport
  • Minot is the center for agriculture, business, industry, education, medical, recreation, culture, manufacturing, transportation, retail, military,
  • the arts, shipping and food & beverage in northwest North Dakota.
  • Minot is a community with many major events throughout the year that provide good overnight stay activity.
  • Minot is within an hour of the Canadian border.
  • The Hotel at 2315 North Broadway is one of three major convention centers hotels in the Minot market.

OVERVIEW

THE PROPERTY OWNER HAS DECIDED TO REOPEN THIS HOTEL DUE TO THE MARKET CHANGE. The seller raised the price to align with the investment to update and reopen the hotel. 2315 North Broadway has everything needed to offer a full service, hotel experience for your guests. The hotel includes 170 Guest Rooms, a Swimming Pool, a Restaurant/Bar & Grill, a Convention Center, and Meeting Rooms on a large plot of land in Minot, ND. The building has had many updates including windows, roofing, rooftop HVAC units and the boiler for the heating system. The hotel had been open for guest room rental for the past couple of years but was closed in January of 2024. The Swimming Pool, Restaurant/Bar & Grill, Convention Center, and Meeting Rooms have not been utilized by this owner for the past few years. The improvements to the hotel will be completed in the next couple of months. Now would be a good time to check into this property. This can be a great opportunity to step into this project at the right price to build equity by systematically improving the position of the property in the hospitality industry.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$16 USD /SF

# OF ROOMS

170

PRICE/ROOM

$32,353 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vegas Motel

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1968

PARKING SPACES

140

LAND DETAILS

LAND ACRES

5.67 AC

LAND SF

246,985 SF

ZONING

C2

APN/PARCEL ID

MI-11288-253-001-2

ASK ABOUT THIS PROPERTY

Ed StecklerColdwell Banker 1st Minot RealtyMore Info
701-720-1861

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Ed StecklerColdwell Banker 1st Minot RealtyMore Info
701-720-1861

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