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Hotel-Motel

Mobile Motel Williston

325 Depot Ln, Williston, ND 58801

Listing Price: $1,277,500

Cap Rate
1.00%
Number of Rooms
73
RevPAR
$11
Price/Room
$17,500
RRM
4.52
Year Built
2013

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Mobile Motel (‘Hotel’ or ‘Property’). The Independent Hotel is offered at $1,277,500 or $17,500 per key. The Mobile Motel is a 73-room, midscale Hotel located in Williston, North Dakota. The Property is off Highway 2 and Highway 85. The three-story Hotel was built in 2013 and maintains common area amenities like guest laundry facilities, meeting facilities, a business center, and barbeque grills. Williston, North Dakota is the county seat of Williams County, in the northwest region of the state. The city’s population has more than doubled since 2010, with no data supporting a decrease in the upcoming future. Population growth can be attributed to the recent North Dakota Oil Boom in the Bakken region which has led to over 200 oil service companies taking stakes in the region, such as ConocoPhillips, ExxonMobil, EOG Resources, Marathon Oil, Occidental Petroleum, and Continental Resources. With entertainment demand generators such as Grand Treasure Casino and outdoor attractions like Theodore Roosevelt National Park, Lake Trenton, the Missouri River, and the Fort Union Trading Post National Historic Site, the Hotel is poised to increase rooms sold through contractual and transient business. This investment provides a major upside opportunity for a new owner. In 2021, the Property recorded room revenues of just over $282,300. A savvy investor, who can focus on increasing rooms sold and daily rates through revenue management strategies, should have no trouble bringing RevPAR up to market standards, especially as change-of-ownership PIP renovations are implemented. The Property is offered unencumbered by its existing management agreement, providing complete operational flexibility.

Investment Highlights

  • Three-Story, 73-Room, Interior-Corridor, Independent Hotel
  • Priced Below Replacement Costs at $17,500 Per Key
  • Excellent Highway Accessibility from Highway 2 and Highway 85
  • Over 200 Oil Service Companies Have Operations in Williston
  • 2021 RevPAR of $10.60 Presenting a Major Upside Opportunity for New Investor to Increase RevPAR Through Revenue Management Strategies

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) ND: 10032

    North Dakota

Financing By

Hotel-Motel

Mobile Motel Williston

Listing Price: $1,277,500

Cap Rate
1.00%
Number of Rooms
73
RevPAR
$11
Price/Room
$17,500
RRM
4.52
Year Built
2013

Investment Highlights

  • Three-Story, 73-Room, Interior-Corridor, Independent Hotel
  • Priced Below Replacement Costs at $17,500 Per Key
  • Excellent Highway Accessibility from Highway 2 and Highway 85
  • Over 200 Oil Service Companies Have Operations in Williston
  • 2021 RevPAR of $10.60 Presenting a Major Upside Opportunity for New Investor to Increase RevPAR Through Revenue Management Strategies

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Mobile Motel (‘Hotel’ or ‘Property’). The Independent Hotel is offered at $1,277,500 or $17,500 per key. The Mobile Motel is a 73-room, midscale Hotel located in Williston, North Dakota. The Property is off Highway 2 and Highway 85. The three-story Hotel was built in 2013 and maintains common area amenities like guest laundry facilities, meeting facilities, a business center, and barbeque grills. Williston, North Dakota is the county seat of Williams County, in the northwest region of the state. The city’s population has more than doubled since 2010, with no data supporting a decrease in the upcoming future. Population growth can be attributed to the recent North Dakota Oil Boom in the Bakken region which has led to over 200 oil service companies taking stakes in the region, such as ConocoPhillips, ExxonMobil, EOG Resources, Marathon Oil, Occidental Petroleum, and Continental Resources. With entertainment demand generators such as Grand Treasure Casino and outdoor attractions like Theodore Roosevelt National Park, Lake Trenton, the Missouri River, and the Fort Union Trading Post National Historic Site, the Hotel is poised to increase rooms sold through contractual and transient business. This investment provides a major upside opportunity for a new owner. In 2021, the Property recorded room revenues of just over $282,300. A savvy investor, who can focus on increasing rooms sold and daily rates through revenue management strategies, should have no trouble bringing RevPAR up to market standards, especially as change-of-ownership PIP renovations are implemented. The Property is offered unencumbered by its existing management agreement, providing complete operational flexibility.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): ND: 10032

    North Dakota

Financing By

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