Hotel-Motel
GrandStay Residential Suites Saint Cloud
213 6th Ave S, St. Cloud, MN 56301
Listing Price: $3,750,000
Investment Overview
Marcus & Millichap is proud to have been chosen as Exclusive Broker and Advisor in regard to the marketing effort of the GrandStay Residential Suites St. Cloud. This exceptional midscale all-suite hotel is situated in a highly sought-after downtown locale, providing outstanding extended stay accommodations for a diverse range of travelers. This investment opportunity offers an appealing price per key, well below market value, providing significant upside potential for investors. The GrandStay presents numerous features that are rarely found elsewhere, such as fully equipped kitchens in every suite, complete with a refrigerator, ice machine, microwave, two-burner stove, dishwasher, and all essential utensils and dishes. This setup creates an ideal opportunity to attract and capture desirable extended-stay customers.
Overall, the Grandstay has exhibited commendable performance metrics, showcasing its resilience with an occupancy rate of 49.7 percent and a solid average daily rate (ADR) of $119.81, reflecting sustained demand while offering great upside potential through improved operation management strategies. The net operating income (NOI) of $315,314 and the properties below market room revenue multiplier for the Mid-Major Metro area further accentuates its potential and growth opportunities for an investor.
Having undergone renovations in 2012, GrandStay boasts a comprehensive array of modern amenities, including an indoor pool and whirlpool, elevator access, a business and fitness center, guest laundry facilities, and a generously spacious breakfast area. Additionally, guests can enjoy outdoor recreational activities on site at the sport court, playground, grill area, and pet-friendly enclosed space. Adding to the appeal of this investment is the Grandstay’s visibility on the heavily travelled Highway 23. It’s location and features are often chosen by those visiting St. Cloud State University, as well as travelers exploring the vibrant downtown area or attending events at the nearby River’s Edge Convention Center, a 5-minute walk away. Other major draws to its location include the nearby Riverside Park, Munsinger Clemens Gardens, and the infamous Herb Brooks National Hockey Center.
GrandStay Residential Suites Saint Cloud
Investment Highlights
- Original Developer | ALL KITCHENETTE UNITS | Third Party Managed since 2000 | RECENT $ Significant Structure Upgrades
- PERFECT SIZE | 53 ROOMS | Consistently Generates Attractive Net Operating Income Figures While Still Affording an Investor Upside Potential
- PRICED ATTRACTIVELY | Below Market Room Revenue Multiplier for Mid-Major Metro Area | Well Below Replacement Cost, Price Per Key Basis For an All-Suites Hotel
- Spacious All-Suite Accommodations, Complete with a Full Kitchen Area, Provides the Perfect Opportunity to Attract Extended-Stay Customers
- DOWNTOWN Bus Stop Location | Prime Location Easily Accessible From Highway 23, Within Walking Distance to St. Cloud University and the River's Edge Convention Center
- Achieving an Occupancy Rate of 49.4 Percent Alongside an Average Daily Rate (ADR) of $119 Indicates Consistent Demand and Healthy Revenue Generation
Listing Price: $3,750,000
Investment Highlights
- Original Developer | ALL KITCHENETTE UNITS | Third Party Managed since 2000 | RECENT $ Significant Structure Upgrades
- PERFECT SIZE | 53 ROOMS | Consistently Generates Attractive Net Operating Income Figures While Still Affording an Investor Upside Potential
- PRICED ATTRACTIVELY | Below Market Room Revenue Multiplier for Mid-Major Metro Area | Well Below Replacement Cost, Price Per Key Basis For an All-Suites Hotel
- Spacious All-Suite Accommodations, Complete with a Full Kitchen Area, Provides the Perfect Opportunity to Attract Extended-Stay Customers
- DOWNTOWN Bus Stop Location | Prime Location Easily Accessible From Highway 23, Within Walking Distance to St. Cloud University and the River's Edge Convention Center
- Achieving an Occupancy Rate of 49.4 Percent Alongside an Average Daily Rate (ADR) of $119 Indicates Consistent Demand and Healthy Revenue Generation
Investment Overview
Marcus & Millichap is proud to have been chosen as Exclusive Broker and Advisor in regard to the marketing effort of the GrandStay Residential Suites St. Cloud. This exceptional midscale all-suite hotel is situated in a highly sought-after downtown locale, providing outstanding extended stay accommodations for a diverse range of travelers. This investment opportunity offers an appealing price per key, well below market value, providing significant upside potential for investors. The GrandStay presents numerous features that are rarely found elsewhere, such as fully equipped kitchens in every suite, complete with a refrigerator, ice machine, microwave, two-burner stove, dishwasher, and all essential utensils and dishes. This setup creates an ideal opportunity to attract and capture desirable extended-stay customers. Overall, the Grandstay has exhibited commendable performance metrics, showcasing its resilience with an occupancy rate of 49.7 percent and a solid average daily rate (ADR) of $119.81, reflecting sustained demand while offering great upside potential through improved operation management strategies. The net operating income (NOI) of $315,314 and the properties below market room revenue multiplier for the Mid-Major Metro area further accentuates its potential and growth opportunities for an investor. Having undergone renovations in 2012, GrandStay boasts a comprehensive array of modern amenities, including an indoor pool and whirlpool, elevator access, a business and fitness center, guest laundry facilities, and a generously spacious breakfast area. Additionally, guests can enjoy outdoor recreational activities on site at the sport court, playground, grill area, and pet-friendly enclosed space. Adding to the appeal of this investment is the Grandstay’s visibility on the heavily travelled Highway 23. It’s location and features are often chosen by those visiting St. Cloud State University, as well as travelers exploring the vibrant downtown area or attending events at the nearby River’s Edge Convention Center, a 5-minute walk away. Other major draws to its location include the nearby Riverside Park, Munsinger Clemens Gardens, and the infamous Herb Brooks National Hockey Center.
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