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Minnesota Hotel Offering Draws Buyers from Across the U.S.
Marcus & Millichap finalized the sale of C’mon Inn Hotel Park Rapids, a 44-room hospitality property located in Park Rapids, MN. The sale price wasn’t disclosed.
Jon Ruzicka, Jake Erickson, Jared Plamann and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the seller. The buyer was procured by the team of Ruzicka/Erickson/Plamann/Ferguson as well.
C’mon Inn Hotel Park Rapids is located at 1009 1st St E in Park Rapids, MN. Ruzicka said, “Through an all-encompassing marketing effort, the listing team was able to facilitate tours and generate competing offers from investors located throughout the entire United States, with the ultimate buyer being sourced from the West Coast. The property appealed to a broad array of buyers due to its attractive returns and extensive recent physical and cosmetic upgrades which include roof, siding, windows, and an overhaul of the facility’s HVAC system, etc.”
- ◦Sale/Acquisition