Hotel-Motel
AmericInn Detroit Lakes
777 US-10, Detroit Lakes, MN 56501
Listing Price: $3,300,000
Investment Overview
Marcus & Millichap is pleased to have been chosen as the Exclusive Broker and Advisor in regards to the marketing efforts of the AmericInn hotel in Detroit Lakes. This midscale hotel is in a highly visible part of the city, strategically located off Highway 10 that sees over 37k vehicles per day.
Operations have maintained consistent revenues over the past three years, creating an opportunity for an owner-operator to enhance occupancy and ADR to better align with the competitive set and maximise revenue potential. Currently third-party managed by JLJ Management, the property offers a compelling case for a hands-on operator to drive additional revenue growth and expense efficiencies. The next owner will have the opportunity, no obligation, to keep the current management in place or take on a more hands-on approach. With current rates below market averages – 50.3% occupancy and a $114 ADR – and a 75% RevPAR index penetration, there is significant room for improvement through optimized pricing strategies.
This is an excellent opportunity for an investor to acquire a well-positioned hotel with solid cash flow and upside potential. The hotel offers an array of amenities, including an indoor pool and a hot tub, a sauna, and a meeting room. The city of Detroit Lakes is a regional hub that attracts business and leisure travelers while located just 40 minutes east of the Fargo-Moorhead area. Fishing, hunting, and enjoying some of the 400 lakes in and around the city are a few activities travelers look forward to. The host city of some major events, WE Fest, is one of the biggest country music festivals in the US, and attracts over 150,000 visitors annually. The Becker County Fair, attracts over 30,000 visitors.
The property features a well-equipped amenity package to appeal to a wide range of travelers. Highlighted amenities include a heated indoor pool and hot tub, a dry sauna, complimentary breakfast, 24-hour business center, onsite laundry facilities. In-room conveniences include 55" flatscreen TV's, personal refrigerators, microwaves, and adjustable PTAC units.
AmericInn Detroit Lakes
Investment Highlights
- Prime Owner-Operator Opportunity, Ideal For A Hands-On Investor To Optimize Revenue And Expenses
- Prime Highway 10 Location with High Visibility that sees Over 37k Vehicles Per Day
- Regional Hub with Diverse Demand Drivers that Attracts Year-Round Visitors for Tourism And Events that Drive Consistent Demand
- Host of WE Fest, One of the Largest Country Music Festivals in the Nation, with Over 150k Visitors Per Year
- Diverse Amenities Including A Indoor Pool, Hot Tub, Meeting Room, Business Center, And In-Room Conveniences Like 55" TVs And Personal Refridgerators.
Exclusively Listed By
Financing By
Listing Price: $3,300,000
Investment Highlights
- Prime Owner-Operator Opportunity, Ideal For A Hands-On Investor To Optimize Revenue And Expenses
- Prime Highway 10 Location with High Visibility that sees Over 37k Vehicles Per Day
- Regional Hub with Diverse Demand Drivers that Attracts Year-Round Visitors for Tourism And Events that Drive Consistent Demand
- Host of WE Fest, One of the Largest Country Music Festivals in the Nation, with Over 150k Visitors Per Year
- Diverse Amenities Including A Indoor Pool, Hot Tub, Meeting Room, Business Center, And In-Room Conveniences Like 55" TVs And Personal Refridgerators.
Investment Overview
Marcus & Millichap is pleased to have been chosen as the Exclusive Broker and Advisor in regards to the marketing efforts of the AmericInn hotel in Detroit Lakes. This midscale hotel is in a highly visible part of the city, strategically located off Highway 10 that sees over 37k vehicles per day. Operations have maintained consistent revenues over the past three years, creating an opportunity for an owner-operator to enhance occupancy and ADR to better align with the competitive set and maximise revenue potential. Currently third-party managed by JLJ Management, the property offers a compelling case for a hands-on operator to drive additional revenue growth and expense efficiencies. The next owner will have the opportunity, no obligation, to keep the current management in place or take on a more hands-on approach. With current rates below market averages – 50.3% occupancy and a $114 ADR – and a 75% RevPAR index penetration, there is significant room for improvement through optimized pricing strategies. This is an excellent opportunity for an investor to acquire a well-positioned hotel with solid cash flow and upside potential. The hotel offers an array of amenities, including an indoor pool and a hot tub, a sauna, and a meeting room. The city of Detroit Lakes is a regional hub that attracts business and leisure travelers while located just 40 minutes east of the Fargo-Moorhead area. Fishing, hunting, and enjoying some of the 400 lakes in and around the city are a few activities travelers look forward to. The host city of some major events, WE Fest, is one of the biggest country music festivals in the US, and attracts over 150,000 visitors annually. The Becker County Fair, attracts over 30,000 visitors. The property features a well-equipped amenity package to appeal to a wide range of travelers. Highlighted amenities include a heated indoor pool and hot tub, a dry sauna, complimentary breakfast, 24-hour business center, onsite laundry facilities. In-room conveniences include 55" flatscreen TV's, personal refrigerators, microwaves, and adjustable PTAC units.
Exclusively Listed By
Financing By
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