Marcus & Millichap recently closed the sale of Norwood Inn & Suites, a 48-room hospitality property in Albany, Minnesota. The property sold for $945,000.
Jon Ruzicka, an investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was also secured and represented by Ruzicka.
Norwood Inn & Suites is a two-story building built in 1998 at 820 Shamrock Lane in Albany. It features 48 guestrooms and an indoor swimming pool and hot tub.
