Court Order Sale | Motel 6 Albert Lea 2019 E Main St 55 Hotel Rooms Online Auction Sale Albert Lea, MN 56007
INVESTMENT HIGHLIGHTS
- Court Ordered Sale! Currently in Receivership: Motel 6 Albert Lea offers a 55-key motel that is part of the G6 Hospitality franchise.
- Value-add opportunity with upside via increasing revenues and profit margins by driving RevPAR growth and improving operational efficiencies.
- Great Owner Operator Opportunity.
- Conveniently located 1.5 hours from Minneapolis, MN, 2 hours Des Moines, IA, 2.5 hours from Sioux Falls, SD, and 3 hours from Cedar Rapids, IA.
- This property benefits from frontage along E Main Street and convenient proximity to the Interstates 35 and 90 corridors.
EXECUTIVE SUMMARY
CBRE is pleased to present for sale the fee simple interest in the 55-room Motel 6 Albert Lea, strategically located in Albert Lea near the interchange of Interstates 35 and 90. Motel 6 Albert Lea is conveniently placed near shopping, dining, and local attractions such as the Albert Lea Art Center, Holiday Lanes, and Diamond Casino. The hotel spans 22,908 square feet on a 1.18-acre site.
The motel sits on a 2-acre lot and fronts E Main Street, just beyond Highway 65. Highway 65 sees more than 13,200 cars passing daily, enabling high visibility for the motel's prominent pylon signage. Amenities include an on-site coin-operated laundry facility, vending machines, and a 24-hour reception desk. Motel patrons can easily access nearby eating establishments, including Green Mill Restaurant and Bar, Main Street Family Restaurant, Taco John's, Subway, McDonald's, KFC, and more.
Renowned as the land between the lakes, Albert Lea is surrounded by Pickerel Lake, Albert Lea Lake, Fountain Lake, and White Lake. It is a go-to area for food, events, outdoor recreation, and festivals. Albert Lea is approximately an hour’s drive from Rochester, Minnesota, and 14 miles from the Iowa state border.
The economy of Albert Lea employs roughly 8,280 people. The city's largest industries are manufacturing, healthcare and social assistance, and retail trade. Major employers are the Mayo Clinic Health System, Cargill, Albert Lea Public School District, Ventura Foods, and the Albert Lea Medical Center.
According to CoStar analytics, the Minnesota Area hospitality market has seen a 12-month occupancy of 52.2%, a 12-month ADR of $132, and a 12-month RevPAR of $69. Year-over-year, the 12-month ADR has increased by 3.3% and the 12-month RevPAR by 0.8%.
Property Tours are taking place Wednesday (5/28) - Friday (5/30) by appointment only. Please get in touch with the listing broker to schedule. Brokers: Scott Miller 815. 543.9448 Maxx Rhode 715.222.5989
Participants in the auction may include; lender and borrower. This auction event requires additional approval from the seller, please download and send completed questionnaire located in the data room to the brokers and/or auction contact. Scott.Miller2@cbre.com Maxx.Rohde@cbre.com JKuykendall@Ten-X.com
The motel sits on a 2-acre lot and fronts E Main Street, just beyond Highway 65. Highway 65 sees more than 13,200 cars passing daily, enabling high visibility for the motel's prominent pylon signage. Amenities include an on-site coin-operated laundry facility, vending machines, and a 24-hour reception desk. Motel patrons can easily access nearby eating establishments, including Green Mill Restaurant and Bar, Main Street Family Restaurant, Taco John's, Subway, McDonald's, KFC, and more.
Renowned as the land between the lakes, Albert Lea is surrounded by Pickerel Lake, Albert Lea Lake, Fountain Lake, and White Lake. It is a go-to area for food, events, outdoor recreation, and festivals. Albert Lea is approximately an hour’s drive from Rochester, Minnesota, and 14 miles from the Iowa state border.
The economy of Albert Lea employs roughly 8,280 people. The city's largest industries are manufacturing, healthcare and social assistance, and retail trade. Major employers are the Mayo Clinic Health System, Cargill, Albert Lea Public School District, Ventura Foods, and the Albert Lea Medical Center.
According to CoStar analytics, the Minnesota Area hospitality market has seen a 12-month occupancy of 52.2%, a 12-month ADR of $132, and a 12-month RevPAR of $69. Year-over-year, the 12-month ADR has increased by 3.3% and the 12-month RevPAR by 0.8%.
Property Tours are taking place Wednesday (5/28) - Friday (5/30) by appointment only. Please get in touch with the listing broker to schedule. Brokers: Scott Miller 815. 543.9448 Maxx Rhode 715.222.5989
Participants in the auction may include; lender and borrower. This auction event requires additional approval from the seller, please download and send completed questionnaire located in the data room to the brokers and/or auction contact. Scott.Miller2@cbre.com Maxx.Rohde@cbre.com JKuykendall@Ten-X.com
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Survey
- Title and Insurance
- Bidder Questionnaire
PROPERTY FACTS
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.18 AC |
| Building Size | 22,908 SF |
| No. Rooms | 55 |
| No. Stories | 3 |
| Year Built | 1988 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | B-2 |
AMENITIES
- High Speed Internet Access
- On-Site Casino
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 55 | $59.00 | - |
PROPERTY TAXES
| Parcel Number | 34.245.0050 | Improvements Assessment | $414,000 |
| Land Assessment | $186,000 | Total Assessment | $600,000 |
SALE ADVISORS
SALE ADVISORS
Scott Miller, First Vice President
(815) 543-9448
Contact
Scott Miller joined CBRE Hotels in 2015 and is the First Vice President of the firm's Milwaukee office. In this role, his focus is on helping clients execute their objectives through strategic dispositions and acquisitions of hotels. Scott is involved in executing all stages of the marketing process and managing the transaction through completion. Since 2019, Scott and his team have closed over 42 transactions for over $311M in sales.
Maxx Rohde, Associate
(414) 274-1682
Contact
His focus is on driving value for Clients’ investments, specifically the disposition and acquisition of hotels. Mr. Rohde is responsible for marketing properties, negotiating contracts, and managing and overseeing transactions for a successful sale.
Prior to joining CBRE Hotels, Maxx Worked as an Associate Appraiser for Diversified Real Estate Services Inc. During this time, Mr. Rohde underwrote loans and credit decisions for banks; determining “as is” & “prospective” market values ranging from $500,000 to $13,000,000. In addition, he produced real estate appraisals for industrial office warehouse, retail multi-family, and multi-tenant office properties.
Prior to joining CBRE Hotels, Maxx Worked as an Associate Appraiser for Diversified Real Estate Services Inc. During this time, Mr. Rohde underwrote loans and credit decisions for banks; determining “as is” & “prospective” market values ranging from $500,000 to $13,000,000. In addition, he produced real estate appraisals for industrial office warehouse, retail multi-family, and multi-tenant office properties.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 40750750
