Marcus & Millichap listing the Radisson Hotel, a 16-story, full-service hotel property in Duluth, Minnesota. The offering price is $15.8 million.
Jon Ruzicka, Jake Erickson and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, are presenting this opportunity on behalf of the seller.
The Radisson Hotel is located at 505 W. Superior Street with views of the hillside, city, harbor and Lake Superior. Featuring a distinguished circular design, the hotel offers 196 guest rooms and six event spaces that total nearly 9,000 square feet.
The asset was built in 1970 and underwent extensive repairs and restoration in 2013, including a $3 million investment in building operating systems. The Radisson offers a wide range of guest amenities including a heated indoor pool, hot tub, sauna and business center. Harbor 360, the rotating restaurant on the hotel’s top floor, provides a unique dining experience with views of the city and harbor. The prime location near Canal Park in Duluth draws significant year-round tourism due to popular annual events and historic landmarks.
