615 Us Highway 10Detroit Lakes, MN 56501

Property Details for 615 Us Highway 10

Year built

1953

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This fee-simple, 58-key Quality Inn & Suites in Detroit Lakes, Minnesota, presents a compelling investment opportunity. Built in 1953 and renovated in 2019, this two-building, two-story hotel boasts a strong NOI of $289,547 and an 8.77% cap rate, commanding an asking price of $3,300,000. Situated on 615 US Hwy 10, the property benefits from its location in a tourism-driven area known as "Lakes Country," attracting visitors year-round. Summer activities include boating, fishing, golfing (eight courses within six miles), and access to a nearby city beach. The annual WE Fest country music festival further boosts occupancy. Winter activities such as skiing, snowboarding, and snowmobiling at Detroit Mountain Recreation Area provide additional revenue streams. The hotel itself offers numerous amenities, including a 133-foot waterslide, whirlpool, swimming pool, kiddie pool with splash pad, complimentary hot breakfast, a business center, meeting space for up to 60 guests, and a fitness center. Guest rooms feature flat-screen TVs, microwaves, refrigerators, coffee makers, hair dryers, irons, premium bedding, USB charging stations, and curved shower curtains. The hotel's proximity to downtown Detroit Lakes (less than 10 minutes away) provides easy access to local restaurants and shops. This property offers significant value-add potential through enhanced operational management strategies, promising a strong return on investment.

Location Insight

City

Detroit Lakes

County

Becker

State

Minnesota

Latitude

46.8112

Longitude

-95.8283

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