- Upper-Midscale Choice Hotels International Brand Affiliation: A three-story, 79-room Comfort Inn & Suites Hotel constructed on 4.4 acres in 2009.
- Efficient Operating Model: Complimentary breakfast, indoor pool, fitness center, business center, and guest laundry support consistent performance and guest satisfaction.
- Balanced Demand Profile: Strong weekday corporate and industrial demand complemented by regional leisure travel tied to outdoor recreation and Giants Ridge.
- Mining and Industrial Demand Driver: Located in the heart of Minnesota’s Mesabi Iron Range, supported by Cleveland-Cliffs, U.S. Steel, United Taconite, and a broad network of mining contractors and suppliers.
- Healthcare Demand Stability: Essential Health Virginia Hospital, Essentia Health Hibbing Clinic, and Fairview Range Medical Center generate recession-resistant lodging demand.
- Education and Workforce Training: Mesabi Range College, Mountain Iron–Buhl School District, and Virginia Public Schools drive academic and event-related stays.
- Government and Institutional Activity: Demand from St. Louis County offices, municipal government, and state and federal inspection and regulatory activity
INVESTMENT OVERVIEW
As the exclusive representative of the seller, Marcus & Millichap is pleased to present for sale to qualified investors the Comfort Inn & Suites Mountain Iron and Virginia (‘Hotel’ or ‘Property’) located at 8570 Rock Ridge Drive in Mountain Iron, Minnesota. The Choice Hotels International-branded Hotel is offered at $12,000,000 or $151,899 per key.
This upper-midscale, select-service hotel operates under the Choice Hotels International platform and features 79 guest rooms across three stories. Built in 2009 and renovated in 2020, the Property is situated on approximately 4.4 acres and includes 89 parking spaces, offering modern construction and an efficient operating layout. The Hotel maintains a well-rounded set of common area amenities designed to accommodate both short-term and extended stays, including a complimentary breakfast area, indoor swimming pool and hot tub, fitness center, business center, guest laundry, and lobby/lounge seating, meeting room (350 sq. ft.) and onsite marketing, which caters to corporate, industrial, and leisure travelers.
The property is situated in the heart of Minnesota’s Iron Range, with nearby outdoor recreation such as fishing, hiking, snowmobiling, and lake activities, along with destinations such as Giants Ridge for skiing, golf, and events. While business and institutional travel drive the majority of occupancy, the region also benefits from steady regional leisure and family visitation that support supplemental weekend and seasonal demand.
BROKER OF RECORD
Jon Ruzicka
Minnesota
P: (952) 852-9700
Lic #: 40583288
