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Property profile & analytics

2601 Us-169 Grand Rapids, MN 55744

  • Hospitality properties
OFF-MARKET
Value Estimation
Location Intelligence

Current Use by Public Records

  • Isalis / Jewelry Store / Gift Shop
  • Party City / Party Store / Balloon Store
  • Skunk Funk / Wholesaler / Clothing Store
  • Carl's Trading Co / Hat Shop
  • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

Property Details for 2601 Us-169

Year built
1975
Property type
Hospitality properties
Property subtype
Hotels

Description

This fee-simple, 58-key Country Inn & Suites in Grand Rapids, Minnesota, presents a compelling investment opportunity. Boasting a 9.66% cap rate and a strong NOI of $405,520, this two-story, 1975-built hotel underwent a complete renovation in 2021, minimizing future capital expenditures. The property enjoys a prime location on US-169, a heavily trafficked route, attracting significant tourism. Grand Rapids, the county seat of Itasca County, offers year-round appeal, drawing visitors with its natural beauty, including Itasca State Park and numerous lakes, as well as winter recreation opportunities. The hotel benefits from local events at the Itasca County Fairgrounds and the Judy Garland Museum, further boosting occupancy. The hotel's impressive $1.3 million room revenue, achieved with an average daily rate (ADR) of $106, demonstrates its consistent performance. Modern amenities in each room include coffee makers, refrigerators, microwaves, flat-screen TVs, and whirlpool bath suites, enhancing the guest experience. The hotel also features a complimentary hot breakfast area. With a remote management model currently in place, this property offers significant potential for increased profitability under active management. The strong economic outlook for Grand Rapids, with anticipated employment growth and ongoing development projects, further strengthens this investment's long-term prospects. This stabilized investment offers a rare chance to acquire a well-maintained, high-performing hotel in a thriving location.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Grand Rapids
County
Itasca
State
Minnesota
Longitude
-93.5287
Latitude
47.2072
More about this property
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