Building For Sale - Minnesota Business Brokerage Group

Building For Sale
Previous Holiday Inn Hotel
701 Hat Trick Avenue
Eveleth, MN 55734
We are pleased to present to you this 144 room previous Holiday Inn Hotel. Excellent
development opportunity to remodel renovate into hotel, school, extended stay,
apartments, senior care or hockey school/training facility. The property is located in
an ideal location with excellent visibility to the highway and is next to the USA Hockey
Hall of Fame.
Please Contact:
Michael N. Palm, Sr.
Senior Vice President—Business Brokerage Group
Phone: (612) 904-7814
Cell: (612) 819-0706
[email protected]
All information furnished is from sources judged to be reliable, however, no guarantee is made as to its accuracy or completeness.
cbcgriffinbusinessbrokerage.com
1221 Nicollet Ave S., Suite 300 - Minneapolis, MN 55403
EXECUTIVE SUMMARY
PREVIOUS HOLIDAY INN HOTEL
701 Hat Trick Avenue
Eveleth, MN 55734
General Information:
Facilities: Hotel property with 144 rooms and enclosed
courtyard, banquet space, restaurant and pool and
hot tub
Competition/Growth Expansion: 12-acre plus hotel property next to the USA Hockey
Hall of Fame and Eveleth Curling Club
Price: $750,000
Highlights of Property:
•
•
•
•
•
•
•
•
•
•
•
•
•
144 room previous Holiday Inn and Days Inn
Center courtyard with pool, hot tubs and mini golf
2-story hotel with interior rooms overlooking pool area courtyard
2 large banquet rooms
Restaurant and bar
Largest building/property in Eveleth
Brick structure
Several windows replaced with significant demolition to prepare for remodeling
Owner looking for best offer
Seller financing possible
Adjacent to US Hockey Hall of Fame and Eveleth Curling Arena
Roof replaced/repaired
Sold for over $3.5M in the past when operating as a hotel
Traffic Counts:
Hwy 53 = 10,800 vehicles per day
2
Previous Holiday Inn Hotel
ADDITIONAL PHOTOGRAPHS
Concrete block walls and spancrete ceilings
Rooms stripped for remodeling
3
Previous Holiday Inn Hotel
ADDITIONAL PHOTOGRAPHS
Exterior view of hotel
Right next door to USA Hockey Hall of Fame
4
Previous Holiday Inn Hotel
View overlooking Highway 53
ADDITIONAL PHOTOGRAPHS
Large windows and interior rooms overlooking courtyard
Large open area for volleyball or hockey and center spa/bar area - high clear span
5
Previous Holiday Inn Hotel
ADDITIONAL PHOTOGRAPHS
Pool, Jacuzzi and hot tubs - all plumbing lines replaced
6
Previous Holiday Inn Hotel
MAPS & AERIALS
MAPS & AERIALS
7
Previous Holiday Inn Hotel
DEMOGRAPHICS
DEMOGRAPHICS
8
Previous Holiday Inn Hotel
DEMOGRAPHICS
DEMOGRAPHICS
9
Previous Holiday Inn Hotel
Mike Palm, Sr. (right) and his son Mike, Jr. (left) received the #1 Ranked
Agent in North America for the Hospitality Segment from President of
Coldwell Banker Commercial, Fred Schmidt (middle), at the recent CBC
Worldwide Conference in Orlando. In addition Mike, Sr. was recognized
as the #1 Ranked Agent in Minnesota and Top 2% Agent in North America.
LEADER IN BRAND AWARENESS
Leading the way in Name
Recognition
®
Coldwell Banker Commercial (CBC ) continues to remain an industry
leader among commercial estate service providers. The results below
detail the Coldwell Banker Commercial organization’s leadership
position in aided brand awareness among readers of National Real
Estate Investor (NREI) and The Wall Street Journal.
NREI: "Which commercial real estate companies have you heard of?"
Source: Penton Media conducted the survey on behalf of the Coldwell Banker Commercial brand. The survey targeted commercial real
estate developers, owners, managers and corporate users from 09/06/12 through 09/25/12. Based on a sample of 133 respondents with a
margin of error of +/- 8.4% at the 95% confidence level.
The Wall Street Journal: “With which brands are you very / somewhat familiar?”
Source: Base: Total respondents (1,231); independent market research firm Beta Research Corp., in conjunction with The Wall Street
Journal’s marketing department, conducted this national survey among top and middle manager Journal subscribers responsible for their
organization’s corporate real estate purchase decisions. Fielded July-August 2011; 61% response rate. Based on a sample of 1,231
respondents with a margin of error of +/- 2.8% at 95% confidence level.