Plymouth, Minnesota, a city with a rich history and a strong economy, offers a unique opportunity for investors to own a piece of the hospitality industry with its Hotels for Sale. With a population of approximately 80,000 residents and a strategic location just 10 miles west of downtown Minneapolis, Plymouth is an attractive destination for business and leisure travelers alike. Hotels in Plymouth can cater to a diverse range of clients, from corporate executives visiting the city's many headquarters, such as OneBeacon and Select Comfort, to families enjoying the city's parks and lakes. The city's amenities, including the Park Nicollet Plymouth Clinic and WestHealth Medical Center, as well as its educational institutions, like Association Free Lutheran Bible School and Seminary, make it an ideal location for hotels to offer a comfortable and convenient stay. Plymouth's geography, with its many lakes and parks, including Medicine Lake and French Regional Park, provides a beautiful backdrop for hotels to offer scenic views and outdoor activities. The city's location, with easy access to Interstate 494, U.S. Highway 169, and Minnesota State Highway 55, makes it an attractive destination for travelers.
Currently, there are 1 Hotels for Sale in Plymouth, offering a range of investment opportunities. The average price per square foot for these hotels is , with an average size of 125,900 square feet. The largest hotel available for sale has a size of 125,900 square feet. In addition to hotels, Plymouth also offers other investment opportunities, such as Restaurants, which can cater to the city's diverse population and visitors. Apartment Buildings are also available, offering a range of options for investors looking to capitalize on the city's growing population. Shopping Centers, like the ones found along Highway 55, provide another investment opportunity, with a range of retail and dining options. Overall, Plymouth's unique blend of natural beauty, economic stability, and investment opportunities make it an attractive destination for investors looking to own a piece of the hospitality industry.
What factors should I consider when buying a hotel in Plymouth?
When considering buying a hotel in Plymouth, Minnesota, there are several key factors to take into account, including:
- The current market conditions, with 1 available listings of hotels, an average price per square foot of , and an average size of 125,900 square feet.
- The local economy, which is driven by corporate headquarters for companies like OneBeacon, Select Comfort, Christopher & Banks, and Tonka Water, and supported by a strong infrastructure network, including Interstate 494, U.S. Highway 169, and Minnesota State Highway 55.
- The amenities and attractions that Plymouth has to offer, such as Medicine Lake, French Regional Park, and the Plymouth Ice Center, which can impact the hotel's potential for occupancy and revenue, as well as the average cap rate of.
It's also essential to understand the complexities of commercial real estate financing, including CRE loans, to ensure that you're making an informed investment decision.
How is the value of a hotel for sale typically calculated?
In Plymouth, Minnesota, where there are currently 1 hotels for sale, the value of a hotel is typically calculated through a comprehensive CRE appraisal, which takes into account factors such as the property's income, expenses, and market value. To learn more about the CRE appraisal process and how it affects hotel valuations, check out our article at CRE appraisals, which provides an in-depth look at this crucial step in commercial real estate investing.
