Located directly on the Minnesota River, the property offers one of the most visible and irreplaceable sites in the southwest Twin Cities metro.

The asset benefits from exceptional walkability to Firemen’s Park, the nationally recognized Chaska Curling Center, regional trail systems, and downtown restaurants and retail. The site sits within Chaska’s active riverfront revitalization corridor and is surrounded by ongoing infrastructure investment and strong demographic growth.

The property is further enhanced by a new, directly connected on-site restaurant tenant, recently opened and operating under a lease with annual rent escalations. The restaurant has quickly become a local favorite and provides a key lifestyle amenity for hotel guests while benefiting from built-in demand generated by the approximately 82 on-site hotel rooms.

Operational Note: The on-site pool has not been serviced or operated since the COVID period and is currently inactive. A future owner may elect to reintroduce this amenity as part of a repositioning strategy or remove it as part of a broader redevelopment plan.

While currently operating as a hotel, the highest and best use is redevelopment. The City of Chaska has expressed support for a new long-term vision for the site, positioning it as a catalyst redevelopment opportunity. Investors can pursue either a hospitality repositioning strategy or a multifamily / mixed-use redevelopment, capitalizing on the site’s riverfront frontage, downtown connectivity, and strong municipal alignment.

Financial Assumptions: Underwritten returns are based on a conservative 65% expense ratio, reflecting current operating performance and providing a realistic baseline for investors evaluating both in-place cash flow and future repositioning scenarios.

This offering represents a unique chance to control a generational riverfront parcel with both in-place income and transformational upside in a high-growth, high-income submarket.

Investment highlights

1. Prime Riverfront Location – Direct Minnesota River frontage in downtown Chaska with walkability to parks, trails, and core amenities.

2. Redevelopment Optionality – Supports either upscale hotel repositioning or multifamily / mixed-use redevelopment with strong city alignment.

3. On-Site Restaurant Amenity – New, directly connected restaurant with annual rent increases enhances tenant experience and destination appeal.

GET TO KNOW LAUREL  

One- and two-bedroom apartments with
modern, industrial design and spacious
floor plans rooted in living well.

MEET OLIVE  

44 newly built apartments with
modern, light and airy aesthetics
and convenient custom spaces.  

The newer built (2021) building offers the new ownership a combination of modern construction quality, stable cash flow, and substantial value-add potential in a rapidly developing urban corridor. With excellent transit connectivity via the Light Rail Blue Line, bike paths, and the bus line, it has proximity to all the area demand drivers of major employment centers. Most notably Abbott Northwestern Campus, Allina Health, Children’s Hospital, including St. Mary’s University and Minneapolis College Art & Design.  The Asset is strategically positioned to capitalize on Minneapolis' continued growth and urban revitalization trends including the new street system along Franklin Avenue which is expected to be completed by 2027.

This prime property offers diverse unit configurations from contemporary studios to spacious three-bedroom residences.  Strategically positioned in a high-demand submarket, the property capitalizes on Minneapolis's dynamic urban growth.  Park & Franklin Lofts combines immediate return potential with long-term value enhancement opportunities, making it an exceptional gateway to one of the region's most promising real estate markets and an attractive addition to any investment portfolio.

Investment highlights

• Current NOI of $429,000 with pro-forma NOI of $585,084 (36% upside).

• RUBS implementation could drive $64,644 of additional revenue.

• Below-market rents provide 15-20% rent optimization upside across all un.

• Debt coverage ratio improving from 1.35 to 1.84

• 2021 construction minimizes near-term capital requirements

• Secure package delivery and garage parking.

• Premium finishes including stainless steel appliances and hardwood flooring.

• Stable 95% occupancy with expense ratio improving from 41.83% to 35.67%.

• 43-units across near perfect mix serving a broad tenant base:13x-Studios, 13x-1BR, 8x-2BR, and 9x-3BR

• Strategic location & connectivity - Light Rail Blue Line access to downtown Minneapolis, airport, and Mall of America.

• Individual Washer & Dryers 

• Supple cupboard spaces

• Wood Flooring

• Individual HVAC systems

• Stainless Steel Appliances: side-by-side Refrigerator, Dishwasher, Microwave, Oven with fan