Hyatt House Hotel For
For Sale
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2301 Landmark Cir, Minot, ND 58703
130-room extended-stay hotel with amenities on 2.97 acres.
Property Size100,000 SF
Lot Size2.97 Acres
Price / SF$115
Days on Market161
Property Features for 2301 Landmark Cir
General Information
Standard status
Active
Size
100,000 SF
Total Parking Spaces
130
Lot size
2.97 Acres
Property subtype
Hospitality
Building Details
Year Built
2013
Buildings
1
Stories
4
Listing Agency:
Marquee Commercial Lodging Advisors
Listed By:
Damian Gordillo · License #AZ
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 11 at 6:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marquee Commercial Lodging Advisors
Investment Insights
Based on property information with market context.
The Hyatt House Minot is a four-story, interior-corridor extended-stay hotel featuring 130 rooms. Constructed in 2013, the property is situated on approximately 2.97 acres. Operating under the Hyatt House flag, the hotel offers suite-style accommodations designed for both short-term and extended-stay guests. Amenities include complimentary breakfast, an on-site bar, an indoor pool, a fitness center, meeting space, and ample on-site parking. The extended-stay layout and amenity offering support longer average lengths of stay and efficient day-to-day operations consistent with the Hyatt House platform. The Property presents an opportunity for ownership to complete a renovation and further enhance its competitive position within the Minot market.
Key Highlights
- 130‑room Hyatt House extended‑stay hotel.
- Suite‑style accommodations cater to both short and long‑term guests.
- Enjoy amenities such as complimentary breakfast, on‑site bar, indoor pool, and fitness center.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$363,375
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,267,500
$7.3M
Cap Rate 7%
$5,191,071
$5.2M
Cap Rate 9%
$4,037,500
$4.0M
Market Conditions
NOI Build-Up for 100,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.50M $15.00/SF
− Vacancy
−$735.0K −$7.35/SF
EGI
$765.0K $7.65/SF
− OpEx
−$401.6K −$4.02/SF
NOI
$363.4K $3.63/SF
Area
Ward County, ND
Vacancy
49.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,267,500
Cap Rate 7%
$5,191,071
Cap Rate 9%
$4,037,500
Alternative Uses
Best Use
Hotel Hospitality
$5.19M
$4.54M – $6.06M
NOI $363,375 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.43M
$11.75M – $15.66M
NOI $939,840 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 58703, ND
23,341
Population
10,643
Households
2.2
Avg Household Size
31
Median Age
34%
College-Educated
95%
High-School Grad
156.2 sq mi
ZIP Area
149
Density / Sq Mi
$82,926
Median Household Income
$48,355
Median Earnings
$1,030
Median Rent
$254,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - 130-room extended-stay hotel with amenities on 2.97 acres.
Where is this hotel located?
The property is located at 2301 Landmark Cir Minot, ND.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 130‑room Hyatt House extended‑stay hotel.; Suite‑style accommodations cater to both short and long‑term guests.; Enjoy amenities such as complimentary breakfast, on‑site bar, indoor pool, and fitness center.
