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3420 S Broadway Minot, ND 58701

For Sale
$3,900,000

102-room hotel with signed Skywest contracts and parking spaces.

Building Details

Year built
2012

Source: Dale Zomer Agent Dale Zomer

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

102-Room Hotel with Skywest Contracts

The property features 102 rooms and parking spaces. It was converted from Choice to Sonesta Essential in 2023. The average revenue for the past two years is $1,072,000, with a projected revenue of $1.3 million for 2025 due to newly signed Skywest contracts. The average revenue for the past three years is $1,028,000. The average EBITDA for the past two years is $315,000. The Gross Rent Multiplier (GRM) is 3.40Xs, and the Average Daily Rate (ADR) is $67.59. The capitalization rate is 8.5%. Buyer's estimated Property Improvement Plan (PIP) is $500,000.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Comfort Inn & Suites Hotel Alamo Inn Hotel Iglesia Ni Cristo ... Place Of Worship Sonesta Essential Minot Hotel

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Minot
County
Ward
State
North Dakota
Longitude
-101.297032
Latitude
48.199533

FAQs

What type of property is this?
Hotel - 102-room hotel with signed Skywest contracts and parking spaces.
Where is this hotel located?
The property is located at 3420 S Broadway Minot, ND.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: - Projected 2025 Revenue of $1.3 million with newly signed Skywest contracts.; - High Cap Rate of 8.5%.; - Substantial 2-year average EBITDA of $315,000.
More about this property
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