1901 S Broadway St
New Ulm, MN 56073
Harmony Inn & Suites New Ulm · Hospitality Property For Sale
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22,203 SF
INVESTMENT HIGHLIGHTS
- 59 Units, 3-Stories, Interior Corridors.
- Property is in excellent condition.
- On-site Manager's apertment.
- Seller Completed PIP.
- Priced at 2.7x 2019 Revenue.
- Bank financing available for a qualified buyer.
PROPERTY FACTS
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.86 AC |
| Building Size | 22,203 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1988/2018 |
| Parking Ratio | 2.75/1,000 SF |
| Corridor | Interior |
| Zoning | C2 |
AMENITIES
- Business Center
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
ABOUT 1901 S BROADWAY ST , NEW ULM, MN 56073
The Econo Lodge in New Ulm, Minnesota is a very well maintained, 3 story interior corridor property with 59 units. New Ulm is just 100 miles from Minneapolis and is known for its vibrant festivals, German breweries , historical sites, and is home to the Minnesota Music Hall of Fame. Visitors come to New Ulm for its lovely downtown and foodie spots, families stay for excellent schools and healthcare. Major employers include the New Ulm Medical Center and Kraft Foods. The property is offered at 2.7x 2019 Revenue, and as an economy brand in a drive-to location, is poised well to face the future of travel. • New Exterior Paint • New Exterior LED lighting • Upgraded front desk office, granite counter, and equipment • Renovated Lobby, Seating, and LED Lighting • Renovated Breakfast Area, granite counter and seating • New Hallway Carpet, LED Lighting, and Interior Paint • Fully Renovated Guestrooms, flooring, headboards • Washer and Dryer - 6 years old
PROPERTY TAXES
| Parcel Number | 00134000101010 | Improvements Assessment | $981,500 |
| Land Assessment | $169,400 | Total Assessment | $1,150,900 |
