Listing Agents
Chuck Klinkhammer
T | 701.298.2929
cklinkhammer@paramountlodging.com
Suzanna Farley Aldrich
T | 406.478.3010
saldrich@paramountlodging.com
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 89-room MainStay Suites Stanley, ND offered at a substantial discount to replacement cost
- Available individually or as part of a 2-pack with its identical sister property the MainStay Suites Tioga, ND for greater efficiency of operations and economies of scale
- Unencumbered of management with ability to retain the current third-party operator if preferred
- MainStay Suites by Choice flags can be relicensed long-term with completion of a nominal PIP
- Well-maintained hotel that consistently receives excellent guest reviews and is in the top few assets of its greater regional comp set per STR rankings
- Midscale extended stay offering with apartment-style guest suites and a variety of hotel amenities including a small onsite restaurant and bar/lounge
- Extended stay midscale product is widely recognized as recession proof and remains a preferred investment target among both private and public investors
- Ideally located along US Route 2 with direct connection to US Highway 8 and immediate access to the broader Stanley region
- Proximate to all market business and leisure demand including Mountrail County Health Center, EOG Resources, Gooseneck Implement, the Lindahl and Aurora Wind Farms, Lostwood National Wildlife Refuge, and the Minot International Airport
- Stanley / Tioga is the oil capital of North Dakota and a hub for the energy industry within the Bakken Oil Formation, the third-largest oil producing region in the U.S.
- An ideal time to be investing in the Bakken region as the U.S. Energy Information Administration (EIA) expects United States oil production to set annual output records in both 2023 and 2024, bolstered locally by a $1.1 billion investment in the Bakken by Hess Corporation