Hotel-Motel

My Place Hotel Grand Forks

1315 S 42nd St, Grand Forks, ND 58201

Listing Price: Request For Offer

Number of Rooms
64
Gross SF
28,000
Year Built
2014

Investment Overview

Marcus & Millichap presents for sale the My Place Hotel in Grand Forks, North Dakota. This property has 64 rooms on three interior corridors and sits on a 1.65-acre parcel. The location of the property is ideal as it is located just off Interstate 25 and within a ten-minute drive of Grand Forks International Airport. It is also adjacent to the Alerus Center, which is an arena that seats 21,000 people for concerts, sports, and other diversions. The My Place Hotel is an extended-stay property that offers great amenities to its guests at reasonable prices. Each room has a kitchenette with a full fridge, a two-burner stove, and a dining area with two chairs. The beds are all queen-sized with one- and two-bed rooms available. Each bed has microfiber sheets and plush pillows for maximum comfort. Grand Forks is situated on the banks of the Red River on the border of North Dakota and Minnesota. It is the third most populated city in the state carrying a population of 57,000. Historically an agricultural community, the city’s economy has matured as a result of the establishment of higher education, defense, health care, and scientific research institutions. In addition to being a commercial and healthcare hub for the region, the city also serves as home to the Grand Forks Air Force Base and the University of North Dakota, which has a current enrollment of roughly 15,000 students engaged in over 200 fields of study. The city is also home to the Alerus Center and Ralph Engelstad Arena which host athletic and other major events.

Investment Highlights

  • The University of North Dakota, with Student Enrollment over 14,000, is Located less than a Mile from the Hotel
  • Excellent Location within the Grand Forks Submarket—less than a Mile from Altru Hospital with 280 Hospital Beds
  • Located Adjacent to the Alerus Center, a 21,000-Seat Arena Hosting a Variety of Concerts, Sports, Banquets, and other Events
  • Efficiently designed extended stay property priced well below replacement costs
  • Minimal PIP Anticipated
  • Unencumbered by Debt, Management, or Franchise

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): ND: 10032

    North Dakota

Hotel-Motel

My Place Hotel Grand Forks

Listing Price: Request For Offer

Number of Rooms
64
Gross SF
28,000
Year Built
2014

Investment Highlights

  • The University of North Dakota, with Student Enrollment over 14,000, is Located less than a Mile from the Hotel
  • Excellent Location within the Grand Forks Submarket—less than a Mile from Altru Hospital with 280 Hospital Beds
  • Located Adjacent to the Alerus Center, a 21,000-Seat Arena Hosting a Variety of Concerts, Sports, Banquets, and other Events
  • Efficiently designed extended stay property priced well below replacement costs
  • Minimal PIP Anticipated
  • Unencumbered by Debt, Management, or Franchise

Investment Overview

Marcus & Millichap presents for sale the My Place Hotel in Grand Forks, North Dakota. This property has 64 rooms on three interior corridors and sits on a 1.65-acre parcel. The location of the property is ideal as it is located just off Interstate 25 and within a ten-minute drive of Grand Forks International Airport. It is also adjacent to the Alerus Center, which is an arena that seats 21,000 people for concerts, sports, and other diversions. The My Place Hotel is an extended-stay property that offers great amenities to its guests at reasonable prices. Each room has a kitchenette with a full fridge, a two-burner stove, and a dining area with two chairs. The beds are all queen-sized with one- and two-bed rooms available. Each bed has microfiber sheets and plush pillows for maximum comfort. Grand Forks is situated on the banks of the Red River on the border of North Dakota and Minnesota. It is the third most populated city in the state carrying a population of 57,000. Historically an agricultural community, the city’s economy has matured as a result of the establishment of higher education, defense, health care, and scientific research institutions. In addition to being a commercial and healthcare hub for the region, the city also serves as home to the Grand Forks Air Force Base and the University of North Dakota, which has a current enrollment of roughly 15,000 students engaged in over 200 fields of study. The city is also home to the Alerus Center and Ralph Engelstad Arena which host athletic and other major events.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): ND: 10032

    North Dakota

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