Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    114-Room Hotel Near Highway 52 Title is generated by Realmo AI

    2401 Elk Drive SW, Minot, ND 58701

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Limited-service hotel with amenities and convenient highway access.

    Type:Hospitality
    Property size:
    53,000 SF
    Added:
    Nov 21, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 8:57 pm

    Property Features for 2401 Elk Drive SW

    General Information

    Standard status
    Active
    Size
    53,000 SF
    Property subtype
    Hospitality

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Steve Madura

    Listing agent Steve Madura

    Listing office

    Listing date Nov 21, 2025

    Source Hilcorealestatesales

    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 Steve Madura

    HighLights

    • Convenient Location: Close to Hwy 52, Hwy 2 Bypass, and I‑83, providing easy interstate access.
    • Substantial size with 114 Rooms for a limited‑service hotel.
    • Amenities: Enjoy the indoor swimming pool with hot tub and fitness center.
    • Ample Parking: Includes vehicle and truck parking.
    • Entertainment: Includes a lounge and game room.
    • Proximity to Attractions: Short drive to Dakota Square Mall, Splashdown Dakota Water Park, and Minot State University.

    Overview

    The Dakota Inn is a 3-story, 114-room, limited-service hotel situated just off Hwy. 52 and Hwy. 2 Bypass, conveniently located close to I-83, offering easy interstate access. The property is also a short drive from Splashdown Dakota Water Park, Dakota Square Mall, Minot State University, and Oak Park Theater. The 53,000 square foot hotel features a lounge, game room, and business center. Guests can enjoy an indoor swimming pool with a hot tub and a fitness center. Ample vehicle and truck parking is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pretzer Arlo C Physician Dakota Inn Hotel & Motel Trappers Lounge Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Minot
    County
    Ward
    State
    North Dakota
    Longitude
    -101.33
    Latitude
    48.214

    Nearby Similar for Sale

    • $725,000
      10,987 SF

      Minot Industrial Investment Opportunity

      Fully occupied industrial property in Minot with long-term tenants.
      2001 SE 8th Ave, Minot, ND 58701
      View Details
    • $590,000
      7,200 SF

      Downtown Minot Commercial Property

      Versatile commercial space in high-traffic downtown Minot location.
      36 NE 3rd St, Minot, ND 58703
      View Details
    • $399,999
      13,600 SF

      Downtown Minot Retail Opportunity

      13,600 SF retail space in central business district.
      110 1st Street, Minot, ND 58701
      View Details
    • $820,000
      7,200 SF

      Spacious Commercial Property Near Minot

      7200 sq ft commercial building on 4.79 acres.
      1515 NE Railway Ave, Minot, ND 58703
      View Details
    • $1,503,163
      9,100 SF

      Dollar General Investment Opportunity, Minot

      New Dollar General store with a 15-year absolute NNN lease.
      4th Avenue NW, Minot, ND 58703
      View Details
    • $3,500,000
      371,566 SF

      Versatile Warehouses and Storage Buildings

      Turnkey commercial property with warehouses, office, and storage on 8.5+ acres.
      515 46th Ave NW, Minot, ND 58703
      View Details
    • $1,577,000
      1,661 SF

      Take 5 Oil Change Investment

      NNN leased Take 5 Oil Change in Minot, North Dakota.
      1738 S Broadway, Minot, ND 58701
      View Details
    • $725,000
      10,987 SF

      Minot Mixed-Use Investment Opportunity

      Fully occupied mixed-use property with long-term tenants in Minot.
      2001 8th Ave SE, Minot, ND 58701
      View Details
    • $2,000,000
      4,896 SF

      Retail Property with Starbucks

      Two-building retail property, fully leased, anchored by Starbucks.
      1800 22nd Ave SW, Minot, ND
      View Details
    • $3,860,000
      8,114 SF

      Drive-Thru Investment Property For Sale

      Two-tenant investment property with drive-thru and freeway visibility.
      1807 22nd Ave SW, Minot, ND
      View Details
    • Contact for pricing
      10,320 SF

      Retail Space For Sale

      Retail space with regional and local tenants, ample parking.
      1500 21st Ave NW, Minot, ND 58703
      View Details
    • Contact for pricing
      45,000 SF

      Minot Hotel with Upside Potential

      Hotel with upside potential, approved for Marriott and Best Western.
      1009 20th Avenue SE, Minot, ND 58701
      View Details

    FAQs

    What type of property is this?
    Hotel - Limited-service hotel with amenities and convenient highway access.
    Where is this hotel located?
    The property is located at 2401 Elk Drive SW Minot, ND.
    What are key features of this property?
    This property features: Convenient Location: Close to Hwy 52, Hwy 2 Bypass, and I‑83, providing easy interstate access.; Substantial size with 114 Rooms for a limited‑service hotel.; Amenities: Enjoy the indoor swimming pool with hot tub and fitness center.
    (847) 504-2478
    We can help!
    Listing Contact
    Steve Madura
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2401 Elk Drive SW, Minot , ND 58701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!