Hotels for Sale

WINGATE BY WYNDHAM MINOT, ND

Address:
Minot, North Dakota
Description:

UNDER CONTRACT

  • Fee simple interest in the 61-room former Fairfield Inn Minot offered at a fraction of replacement cost
  • Property offered for individual sale through Ten-X as part of a larger portfolio sale on August 22nd
  • Available unencumbered of debt and third-party management with scheduled rebranding to Wingate by Wyndham in late July 2018
  • Seller has pre-negotiated franchise terms with Wyndham including the buyer option for reduced royalty fees or key money payment
  • Financing available with upwards of 80% 'Loan to Cost’ (LTC) for qualified bidders
  • Minimal Wingate by Wyndham change of ownership PIP expected upon transfer of franchise and sale of asset with 18 month deferment on full PIP requirements
  • Situated adjacent to US Route 2 and US Route 52 with direct visibility and direct accessibility to the upwards of 30,000 cars passing the location daily
  • Readily accessible to all regional Minot demand generators including Minot Air Force Base, Minot State University, Dakota Square Shopping Mall and Trinity Health Care.
  • Optimal time to be investing in Minot market with stabilizing commodity prices resulting in 16% growth in year over year active oil rig counts in North Dakota and 7% year over year Minot market hotel occupancy growth

Listing Agents

Subu Thiagarajan
T: 510.205.7931
Email
DRE #01891134

Suzanna Farley Aldrich
T: 406.478.3010
Email

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