2315 Broadway Minot, ND 58703

Property Details for 2315 Broadway

Year built

1968

Lot size

5.67 lot acres

Property size

66,975 SF

Property type

Motels

Property subtype

Hotels

APN

MI11.288.253.0012

Description

This exceptional 170-key hotel, located at 2315 N Broadway in Minot, North Dakota, presents a compelling investment opportunity. Boasting 66,975 square feet across three stories, this established property sits on a substantial 5.67-acre lot and features a diverse range of amenities including a swimming pool, restaurant/bar & grill, and a convention center with meeting rooms. Built in 1968 and renovated in 2011, the hotel has undergone significant updates, including window and roofing replacements, as well as upgrades to the rooftop HVAC units and boiler system. The property is zoned C2 and offers substantial air rights (246,985 sq ft). Currently undergoing a reopening process following a temporary closure in January 2024, this hotel is poised for immediate operational resumption. The asking price is $2,195,000, translating to $32.77 per square foot and $12,911.76 per key. The land value alone is $8.89 per square foot. Minot's robust economy, driven by diverse sectors including agriculture, energy, military (Minot Air Force Base is nearby), tourism, and international trade (due to proximity to Canada), makes this a highly attractive investment. Recent additions of agricultural manufacturing facilities further solidify Minot's growth potential. A new owner can capitalize on the hotel's reopening, implementing a rebranding strategy to maximize profitability. The property's APN is MI11.288.253.0012.