Investment Overview

Register to bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/3327 Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Sleep Inn & Suites Minot, a 176-room hospitality asset built in 2003. This leasehold property, directly attached to Dakota Square Mall and ideally located near the intersection of U.S. Highways 83 and 52, presents an excellent opportunity to acquire a well-established asset at an attractive basis with multiple avenues for value creation. Anchored by historically strong room revenue exceeding $3 million annually, the property combines 176 guestrooms with an indoor water park and ample meeting and convention space, creating a well-diversified hospitality asset with multiple revenue drivers. The property is subject to a leasehold interest of which the ground is owned by the adjacent mall. A long-term ground lease with extension options is in place. The base term of the lease extends out to 2057 and three separate 10-year options are available which would extend the lease to 2087. The hotel’s attractive room revenue multiplier provides investors with a compelling entry point. Currently operated under absentee ownership with third-party management, the hotel presents a significant opportunity for a more engaged ownership group to improve operational efficiencies, optimize expense controls, and enhance overall profitability. The flexible conference facilities also provide opportunities to expand group business and maximize revenue from meetings, corporate events, and social functions, creating additional upside beyond existing operations. Minot serves as the commercial and economic hub of northwestern North Dakota, supported by a diverse economy driven by Minot Air Force Base, Trinity Health, regional healthcare services, energy, agriculture, transportation, and retail. The hotel’s location adjacent to Dakota Square Mall, the region’s premier shopping destination, further enhances demand from leisure travelers, business guests, group events, and regional visitors. Continued investment throughout the region and a diverse mix of demand generators provide a stable foundation for year-round lodging performance. Overall, the Sleep Inn & Suites Minot presents a compelling value-add investment opportunity featuring historically strong room revenue exceeding $3 million annually, an attractive low room revenue multiplier, long-term ground lease security, and meaningful upside through more active ownership and management. Combined with its water park and meeting facilities, strategic location, established operating history, and repositioning potential, the property is well-positioned for investors seeking immediate scale with multiple opportunities to drive long-term value creation.