Assisted Living Conversion Opportunity...The Owner of property (“Owner”) has retained Leines...

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13253 Kerry Lane | Eden Prairie, MN 55346

www.LeinesHotelAdvisors.comCopyright ©2019 Leines Hotel Advisors, Inc.

Soliciting Best Offers1820 South Columbia Road, Grand Forks, ND 58201

Exclusively Represented by: Leines Hotel Advisors, Inc.

Assisted Living Conversion OpportunityAMERICINN MOTEL & SUITES • GRAND FORKS • NORTH DAKOTA

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13253 Kerry Lane Eden Prairie, MN 55346Phone: 952-405-9370

www.LeinesHotelAdvisors.com

PREFACE

SECTION 1

SECTION 2

SECTION 3

SECTION 4

SECTION 5

SECTION 6

SECTION 7

CONFIDENTIALITY

EXECUTIVE SUMMARY

BLUEPRINTS

THE MARKET

PROPERTY

PHOTOGRAPHS

RESOURCE LINKS

SALE PROCEDURE

SALFACTS

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Confidentiality Agreement The Owner of property (“Owner”) has retained Leines Hotel Advisors, Inc. (“Broker”) as the exclusive broker for the sale of the Property. This Offering Memorandum has been prepared by Broker for use by the principals to whom Broker has provided this Offering Memorandum. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by Broker prior to delivery of this Offering Memorandum. Although the information contained herein is based upon sources believed to be reasonably reliable, Owner and Broker, on their own behalf of their respective officers, employees, shareholders, partners, directors, members and affiliates, disclaim any responsibility or liability for inaccuracies, representations and warranties (expressed or implied) contained in, or omitted from, the Offering Memorandum or any other written or oral communication or information transmitted or made available to the recipient of this Offering Memorandum. In amplification of and without limiting the foregoing, summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein, and no representations or warranties are made as to the completeness and/or accuracy of the projections contained herein. Prospective purchasers of the Property should make their own investigations and conclusions without reliance upon this Offering Memorandum, the information contained herein or any other written or oral communication or information transmitted or made available to the recipient.

Additional information and an opportunity to inspect the Property will be made available upon written request by interested and qualified prospective purchasers.

Owner expressly reserves the right, exercisable in Owner’s sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Owner and Broker each expressly reserves the right, exercisable in their sole and absolute discretion, to reject any and all expression of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Broker is not authorized to make any representations or agreements on behalf of Owner. Owner shall not have any legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed, delivered and approved by Owner and the other party thereto and any conditions to Owner’s obligations hereunder have been satisfied or waived.

If you have no interest in the Property at this time, return this Offering Memorandum immediately to:

Leines Hotel Advisors13253 Kerry LaneEden Prairie, MN 55346Attn: Ted Leines | 952-405-9370

PREFACE: CONFIDENTIALITYAssisted Living Conversion Opportunity

Grand Forks, North Dakota

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The AmericInn Motel & Suites of Grand Forks is a wonderful three-story property and excellent assisted living conversion opportunity. It is located in close proximity to the region’s primary medical facility, the Altru Health System hospital and campus. The property features:

» 56 rooms composed of suites, singles, and doubles with many connected rooms. » A high three-story central lobby with a fireplace, grand staircase, pool, spa and lounge. » The lobby includes a roomy carpeted sitting area with comfortable furniture and a tall stone fireplace, and a dining area. » Adjacent to the lobby are located the indoor pool and spa in a large spacious room with a vaulted wood ceiling and large windows. » An elevator serves all three floors. » Construction consists of concrete span on block with exceptional sound proofing between floors and rooms.

Located in northeastern North Dakota, the city of Grand Forks, along with the twin city of East Grand Forks, Minnesota and Crookston, Minnesota, form the center of the Grand Forks, ND-MN Metropolitan Statistical Area. A vibrant college town, it is home to the University

of North Dakota (UND), which attracts students from all over the world.

The Altru Health System is a community of over 4,000 health professionals and support staff committed to caring for the region for more than 100 years. Serving over 200,000 residents in northeast North Dakota and northwest Minnesota. It is affiliated with the Mayo Clinic Care Network.

This property is perfectly suited to service this dynamic market.

To learn more about the Grand Forks ND-MN Metropolitan Statistical Area click this link: https://en.m.wikipedia.org/wiki/Greater_Grand_Forks

SECTION 1: EXECUTIVE SUMMARY

Property Summary

Standard Room

Assisted Living Conversion OpportunityGrand Forks, North Dakota

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SECTION 1: EXECUTIVE SUMMARY


Grand Forks County:◊2016 Pop. 71,083◊Est. Median houshold income in 2016: $50,008◊Median contract rent for apartments in 2016: $680◊Est. median house or condo value in 2016: $199,000

For detailed demographics, click this link: http://www.city-data.com/county/Grand_Forks_County-ND.html

Polk County (East Grand Forks, MN):◊2016 Population: 31,949◊Est. Median houshold income in 2016: $55,058◊Median contract rent for apartments in 2016: $573◊Est. median house or condo value in 2016: $160,481

For detailed demographics, click this link: http://www.city-data.com/county/Polk_County-MN.html


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SECTION 2: BLUEPRINTS

Detailed full size PDF’s of the Floor Plans, Lobby Plans, Room Plans,

Elevations, and more are available.


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SECTION 2: BLUEPRINTSAssisted Living Conversion Opportunity


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SECTION 2: BLUEPRINTS

Property: 61,884 Sq. Ft. Boundary shown with blue line.


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SECTION 3: THE MARKET

AmericInn Motel & SuitesGrand Forks, North Dakota

University of North Dakota

Altru Health System

(Hospital)


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SECTION 4: PROPERTY PHOTOGRAPHS

AmericInn Motel & Suites of Grand Forks

Hotel Lobby with Fireplace


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Breakfast AreaFront Desk

The Lounge - serviced by the front desk


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Pool and Spa Area with Extended Breakfast Seating

Exercise Room


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Family Suite

Standard Double Queen


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Master Suite Whirlpool & Fireplace Suite

Two Room Suite King Whirlpool Suite


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Grand Forks Resource Links:

SECTION 5: RESOURCE LINKS

For demographic information about the region, visit:

Grand Forks County (ND): http://www.city-data.com/county/Grand_Forks_County-ND.html

Polk County (MN): http://www.city-data.com/county/Polk_County-MN.html

Grand Forks Metropolitan Statistical Area (Wikipedia): https://en.m.wikipedia.org/wiki/Greater_Grand_Forks

Midwest Grand Forks Economy (Wikipedia): http://www.city-data.com/us-cities/The-Midwest/Grand-Forks-Economy.html


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This is a confidential all-cash offering that is being presented to a select group

of prospective investors on a principal-only basis. Property tours will be arranged

through Leines Hotel Advisors, Inc.

The Americinn Motel & Suites of Grand Forks, North Dakota

1820 South Columbia Road

Grand Forks, North Dakota 58201

is represented exclusively by Leines Hotel Advisors, Inc.

and is soliciting best offers for a fee simple interest.

Contact Ted Leines at 651-592-8022 for more information.

Procedure

SECTION 6: SALES PROCEDUREAssisted Living Conversion Opportunity


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SECTION 7: SALIENT FACTS

Property address1820 South Columbia Road

Grand Forks, ND 58201

Parcel ID 44-1327-00003-001

Property tax $41,862 (for 2018); $39,795.12 with 5% discount for

full payment by February 15th.

Total number of guest rooms 56

Total building area 32,043 sq. ft.

Total site area 61,884 sq. ft.

Year built 1997 • Fully renovated 2014

Roof New roof in 2009

Flood hazard Zone X-Map#3853650010D 8/2/07

Legal description

Lot C, Block 1 (Replat of Lot 2 and Replat of Lot B

of Replat of Lot 2), Columbia Park 11th Addition to

the City of Grand Forks, Grand Forks County, North

Dakota

Number of stories 3

Construction method Pre-cast concrete slab on block

Exterior Wood - stained

Heating & Cooling Individual through-the-wall heating & cooling units

Elevator 1 Elevator

Sprinkler system Guest rooms and common areas are sprinklered

Commercial washers 2

Commercial dryers 2

Parking capacity 62 parking stalls

Parking surface Concrete surface

Room breakdown 34 Double Queen Non-smoke

6 Double Queen Smoking

2 Queen/Full w/sofa

1 Queen Handicap Suite

6 King w/sofa

4 Queen w/whirpool

2 King w/whirlpool

2 King w/sofa/fireplace/whirlpool

Additional rooms

Pool and spa room

Lounge with wine, beer & select food items

Breakfast area adjacent to lobby

Fireplace area in lobby

1 Guest laundry

Each guest room includes

Microwave and refrigerator

High speed internet


Assisted Living Conversion Opportunity...The Owner of property (“Owner”) has retained Leines...

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