1405 Skyline Way, Bismarck, ND 58503
- Request for Offers
The Super 8 Bismarck North is a 2014 constructed, 61-room, mid-scale hotel that is priced as a call for offers that could potentially end up being a lender short sale. For the past several months Bismarck has experienced a rapid decline in the area’s oil and gas production resulting in a downward trend in room revenue month over month. However, the new supply pipeline for hotels in Bismarck is extremely low and the overall market metrics for the city are strengthening. The slow down in oil production combined with internal management issues have resulted in a weak Q3 and Q4 for the Super 8 Bismarck North.
The Super 8 Bismarck North has been approved as a Best Western conversion for a qualified investor. The pro forma underwriting in this package assumes a new investor will take advantage to up-branding opportunity. A recent market study suggests that a stabilized Best Western could generate a RevPAR of approximately $54 assuming the existing market conditions stabilize. It is estimated that liquidated damages associated with terminating the Super 8 franchise will cost approximately $150,000-$200,000.
The Super 8 Bismark offers guest a trendy eco-friendly design with all the modern amenities you would come to expect from a new hotel. The hotel is conveniently located just one mile north of I-94 near North Dakota State Capitol and just eight miles from Bismarck Municipal Airport. The hotel was built per Wyndham’s latest design scheme and is one of Bismarck’s newest hotels.
Bismarck is the capital of the State of North Dakota and serves as the county seat of Burleigh County. It is the second most populous city in North Dakota after Fargo. The city’s population was 61,272 at the 2010 census, while its metropolitan population was 120,060.
Bismarck is on the east bank of the Missouri River, directly across the river from Mandan. The two cities make up the core of the Bismarck-Mandan Metropolitan Statistical Area. As a hub of retail and healthcare, Bismarck is the economic center of south-central North Dakota and north-central South Dakota. Downtown Bismarck is near the center of the city, and is distinctive because the city’s major shopping center, Kirkwood Mall, is located there rather than in a suburban setting. Several other major retail stores are in the vicinity of Kirkwood Mall along with the Bismarck Civic Center. Two of Bismarck’s hospitals, St. Alexius Medical Center and Sanford Health are both downtown and the streets are lined with small stores and restaurants.
Much of the recent commercial and residential growth has occurred in the northern section of the city within the same region as Super 8 Bismarck, largely because of expanding retail centers. Among the shopping center in northern Bismarck are Gateway Fashion Mall (1.6 miles), Northbrook Shopping Center (3.2 miles), Arrowhead Plaza (3.6 miles), and the new Pinehurst Square (3.5 miles).
Agent for this listing
Vice President Investments, National Hospitality Group
Office: (713) 452-4275
Mobile: (540) 522-9115