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Vegas Motel 2315 N Broadway 170 Room Hotel Minot, ND 58703 $5,500,000 ($32,353/Room)
Investment Highlights
- Adjacent to the Minot International Airport
- the arts, shipping and food & beverage in northwest North Dakota.
- Minot is within an hour of the Canadian border.
- Minot is the center for agriculture, business, industry, education, medical, recreation, culture, manufacturing, transportation, retail, military,
- Minot is a community with many major events throughout the year that provide good overnight stay activity.
- The Hotel at 2315 North Broadway is one of three major convention centers hotels in the Minot market.
Executive Summary
THE PROPERTY OWNER HAS DECIDED TO REOPEN THIS HOTEL DUE TO THE MARKET CHANGE. The seller raised the price to align with the investment to update and reopen the hotel. 2315 North Broadway has everything needed to offer a full service, hotel experience for your guests. The hotel includes 170 Guest Rooms, a Swimming Pool, a Restaurant/Bar & Grill, a Convention Center, and Meeting Rooms on a large plot of land in Minot, ND. The building has had many updates including windows, roofing, rooftop HVAC units and the boiler for the heating system. The hotel had been open for guest room rental for the past couple of years but was closed in January of 2024. The Swimming Pool, Restaurant/Bar & Grill, Convention Center, and Meeting Rooms have not been utilized by this owner for the past few years. The improvements to the hotel will be completed in the next couple of months. Now would be a good time to check into this property. This can be a great opportunity to step into this project at the right price to build equity by systematically improving the position of the property in the hospitality industry.
Property Facts Under Contract
Amenities
- Business Center
- Pool
- Restaurant
- Room Service
- High Speed Internet Access
- On-Site Bar
- Convention Hotel
- Meeting Event Space
- Smoke-Free
- Hot Tub
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 3 | $124.00 | - |
| Guest Room | 167 | $65.00 | - |
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Property Taxes
| Parcel Number | MI112882530012 | Improvements Assessment | $63,000 |
| Land Assessment | $370,500 | Total Assessment | $433,500 |
Property Taxes
Parcel Number
MI112882530012
Land Assessment
$370,500
Improvements Assessment
$63,000
Total Assessment
$433,500
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Vegas Motel | 2315 N Broadway
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