5151 American BlvdBloomington, MN 55437

Property Details for 5151 American Blvd

Year built

1979

Lot size

4.84 AC

Property type

Commercial real estate

APN

06-027-24-23-0017

APU

602724230017

Description

This 17-story, 233-room La Quinta Inn & Suites in Bloomington, Minnesota, presents a compelling institutional investment opportunity. Boasting a strong NOI of $798,145, this limited-service hotel underwent a complete renovation in 2015, showcasing modern design and finishes. Strategically located near the Minneapolis-Saint Paul International Airport (MSP) and the Mall of America, it benefits from Bloomington's high Average Daily Rate (ADR). The hotel's convenient access to major transportation routes, including I-494, ensures high visibility and consistent occupancy. Amenities include an indoor pool, fitness center, over 3,200 square feet of meeting space accommodating up to 150 guests, a business center, sundry shop, guest laundry, and a breakfast area. Guest rooms feature microwaves, mini-refrigerators, coffee makers, flat-screen HDTVs, and other modern conveniences. The 4.84-acre lot includes ample parking and attractive landscaping. This property is ideally positioned to capitalize on the robust Twin Cities economy, including a strong presence of Fortune 500 companies and major medical institutions. The hotel's prime location, coupled with its extensive amenities and recent renovation, makes it an attractive investment in the thriving hospitality sector of the Minneapolis-St. Paul metropolitan area. Built in 1981, this property offers a proven track record and significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $41,474,392

  Hospitality

  $37,990,320

  Educational

  $31,607,500

  Medical

  $32,694,530

  Retail

  $49,167,220

Location Insight

City

Bloomington

County

Hennepin

State

Minnesota

Latitude

44.8558

Longitude

-93.3471

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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