505 Superior St Duluth, MN 55802-1513

Property Details for 505 Superior St

Year built

1969

Property size

135,546 SF

Property type

Commercial real estate

APN

010-1230-02100

APU

10123002100

Description

This iconic 16-story, circular Radisson Hotel in Duluth, Minnesota, presents a compelling investment opportunity. Boasting 196 guest rooms with breathtaking views of the city, harbor, and Lake Superior, this full-service hotel enjoys a prime location connected to attractions via the Skywalk system. The hotel has consistently generated over $5.5 million in room revenue, with significant upside potential through increased occupancy and average daily rate (ADR). Its nearly 9,000 square feet of flexible meeting and event space caters to corporate conferences, weddings, and other events. The property includes a heated indoor pool, hot tub, sauna, and business center. Harbor 360, the hotel's rotating 16th-floor restaurant, offers a unique dining experience. Ample complimentary parking is available. The hotel sits on a 2.03-acre lot and was built in 1970, undergoing a significant renovation in 2018. The seller is open to a lease agreement for food and beverage operations, providing a steady income stream. The application for historic tax credits is underway, offering potential financial benefits. The hotel's proximity to Canal Park and major attractions, including the DECC and Amsoil Arena, ensures consistent tourism-driven revenue. Duluth's thriving tourism industry, with over 3 million annual visitors, further enhances the property's investment appeal. The asking price is $15,800,000. The adjacent building (268 total rooms) is not included in the sale. Extensive repairs and restoration of building operating systems were completed in 2013, addressing a water pipe burst.

Location Insight

City

Duluth

County

St. Louis

State

Minnesota

Longitude

-92.1054

Latitude

46.7819

CBSA code

20260

CBSA name

DULUTH, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments