Sleep Inn & Suites Conference Center and Water Park… — Sale in Minot, ND

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Minot, ND 58701
  • Year built: 2003

Photos

Sleep Inn & Suites Conference Center and Water Park… — Sale in Minot, ND, photo 1 of 2
Sleep Inn & Suites Conference Center and Water Park… — Sale in Minot, ND, photo 2 of 2

Investment Figures

Cap rate
15.52%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Sleep Inn & Suites Minot, a 176-room hospitality asset built in 2003. This leasehold property, directly attached to Dakota Square Mall and ideally located near the intersection of U.S. Highways 83 and 52, presents an excellent opportunity to acquire a well-established asset at an attractive basis with multiple avenues for value creation. Anchored by historically strong room revenue exceeding three million dollars annually, the property combines 176 guestrooms with an indoor water park and ample meeting and convention space, creating a well-diversified hospitality asset with multiple revenue drivers. The property is subject to a leasehold interest of which the ground is owned by the adjacent mall. A long-term ground lease with extension options is in place. The base term of the lease extends out to 2057 and three separate 10-year options are available which would extend the lease to 2087. The hotel’s attractive room revenue multiplier provides investors with a compelling entry point. Currently operated under absentee ownership with third-party management, the hotel presents a significant opportunity for a more engaged ownership group to improve operational efficiencies, optimize expense controls, and enhance overall profitability. The flexible conference facilities also provide opportunities to expand group business and maximize revenue from meetings, corporate events, and social functions, creating additional upside beyond existing operations. Minot serves as the commercial and economic hub of northwestern North Dakota, supported by a diverse economy driven by Minot Air Force Base, Trinity Health, regional healthcare services, energy, agriculture, transportation, and retail. The hotel’s location adjacent to Dakota Square Mall, the region’s premier shopping destination, further enhances demand from leisure travelers, business guests, group events, and regional visitors. Continued invest

Market Context

This hospitality in Minot, ND is listed for sale. It is offered at an approximate 15.5% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 2003. Compare it against other hospitality listings for sale in Minot, ND — view the full market.

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