Marcus & Millichap Brokers $8.3M Sale Of 82-Room Hotel In Fargo To Hospitality Group

The property involved in this transaction is an 82-room hotel located at 4417 23rd Ave. S, Fargo, ND. The asset was sold for $8,300,000, equating to a price per key of $101,220. This hotel is a Comfort Suites property. The sale was facilitated through local conventional financing.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $8,300,000
• Address: 4417 23rd Ave. S
• Market: Fargo, ND
• Keys: 82
• Price Per Key: $101,220

The transaction was brokered by Marcus & Millichap, with Allan Miller, Christopher (Chris) Gomes, Huberth Marak, and Skyler Cooper representing both the buyer and the closing. The purchase was made by a hospitality group utilizing 1031 exchange proceeds from a previous hotel sale in Montana.