THE OPPORTUNITY
Located in a vibrant mixed-use development, the property provides excellent access to business and leisure amenities. Its prime location, spacious suites, and connection to Edinborough Park make it a top choice for guests seeking comfort and convenience.
Situated near Interstate 494, the Hotel is close to popular attractions such as the Mall of America and Xcel Energy Center, and just 8 miles from Minneapolis-St. Paul International Airport. The property features apartment-style suites with full kitchens and modern amenities. Guests enjoy a free breakfast buffet, airport shuttle, convenience store, business center, fitness center, pool, and guest laundry. The Hotel is connected to an indoor recreational center with an indoor pool, running track, amphitheater, and playground.
INVESTMENT HIGHLIGHTS
- Strong Suburban Market: Positioned in the suburban market of Edina, Minneapolis, the Residence Inn Edina caters to the growing demand for upscale accommodations in a serene yet accessible setting, making it an attractive investment opportunity with promising potential for revenue growth.
- Stable Revenue Streams: The property benefits from consistent demand generated by its prime location and proximity to key attractions, ensuring stable revenue streams and maximizing investor returns.
- Value-Add Opportunities: With the conversion of fitness center space and storage space into additional suites to increase the room count to 136. There is also the potential for further value enhancement through strategic renovations or repositioning initiatives, optimizing the property’s revenue-generating capabilities.
- Offered Unencumbered by Management: The Residence Inn is institutionally managed and offered unencumbered of management allowing an investor to revamp the operations of the Hotels, implement strategic cost control initiatives, and employ more aggressive yield management strategies.
- Residence Inn Renewal or Conversion Opportunity: Hotel offered free of franchise with the new owner having the ability to either renew with Marriott or reposition it to another brand. Expected 10-year renewal from Marriott after completion of a PIP or the flexibility to reposition the Hotel with multiple potential branding options. Brands not currently represented in the submarket might include options from WaterWalk and Sonesta.
Upside Potential
The Residence Inn Edina presents a unique investment opportunity with its prime location, diverse suite offerings, and connection to Edinborough Park, promising strong returns and sustained growth.
Property Highlights
Prime Location: The Residence Inn Edina enjoys a strategic location within the bustling mixed-use development of Edina, Minneapolis, offering easy access to key business centers, shopping districts, and recreational facilities.
Suite Flexibility: With 133 units that are configured as studio, one- and two-bedroom suites, the property maximizes its room count while maintaining a high standard of comfort and functionality.
Institutional Grade Asset: Built in 1990 and renovated in 2012, the 7-story Hotel is a well-built asset with concrete and steel construction.
Connected to Edinborough Park: The Hotel’s unique connection to Edinborough Park provides guests with exclusive access to an array of indoor recreational amenities, elevating the guest experience and distinguishing the property within the market.
Ownership & Terms
The Residence Inn Edina is offered free of management and debt encumbrances. The sale terms are all cash, with the Property offered “as is, where is” on fee-simple land.
Overview
The 7-story, 90,286 SF Hotel was constructed in 1990 and is in very good condition. It features ample public, storage, and exterior space.
Location & Accessibility
Located in Edina, near I-494 and Highway 100, the Residence Inn is close to major transportation routes and corporate headquarters. Downtown Minneapolis and the Minneapolis-Saint Paul International Airport are both a short drive away.
Guest Room Configuration
The Hotel offers complimentary hot breakfast, high-speed internet, a business center, fitness center, and guest laundry. Guestroom amenities include full kitchens, flat-screen TVs, and modern conveniences.
Attractions & Landmarks
Nearby attractions include Southdale Center, Centennial Lakes Park, Galleria Edina, Braemar Golf Course, and Lake Harriet.
LOCATION
Market Overview
Edina
Edina, located 10 miles south of downtown Minneapolis, has a robust economy and is home to the Mall of America and numerous corporate headquarters, contributing to its status as a commercial hub.
Minneapolis
Minneapolis, part of the Twin Cities, has a vibrant economy and cultural scene. The city boasts exceptional parks, lakes, and rivers, and is a major business center in the Midwest.
Population
Edina’s population of approximately 52,437 fluctuates seasonally, with growth fueled by remote work opportunities and proximity to the larger Minneapolis-St. Paul metropolitan area.
Economy
Demand Generators include the Mall of America, U.S. Bank Stadium, Target Center, and Minneapolis-Saint Paul International Airport. Major corporations such as Best Buy, Seagate Technology, Ceridian, Donaldson Company, and The Toro Company have significant operations nearby.
Transportation
The Residence Inn Edina is near major highways and the Minneapolis-St. Paul International Airport, ensuring easy access for guests.
Healthcare
Fairview Southdale Hospital offers extensive specialty services and has received top ratings in quality surveys.
Higher Education
The University of Minnesota – Twin Cities is a leading institution, offering a wide range of academic programs and research opportunities.
PHOTO TOUR
ADVISORS
Brokerage team
Corresponding Broker:
Brian Brockman – Bang Realty, Inc
bor@bangrealty.com
MN Broker License #:40628602