Listed by Dickson Commercial Group
$3,250,000
Vacation Motor Lodge
Details
APN 011-192-04
Property Type Hospitality
Sub Type Motel
Square Footage 9,660
Keys 35
Beds 35
Cap Rate 4.46%
NOI $144,929
Occupancy 100%
Pro-Forma Cap Rate 9%
Pro-Forma NOI $292,529
Price per SqFt $336
Broker Co-Op Yes
Year Built 1958
Buildings 1
Stories 2
Acreage 0.450
Zoning MU-MC (MIxed-use Midtown Commercial
Investment Type Value Add
Ownership Fee Simple
The Vacation Motor Lodge - Midtown Reno
Marketing description
DCG is pleased to present 599 S Center St - Vacation Motor Lodge for sale.
Constructed in 1958, The Vacation Motor Lodge is a motel lodge in the heart of Reno’s Midtown District. The property spans 0.45 acres zoned for Mixed-Use, posing an opportunity for repositioning and redevelopment.
599 South Center Street features 35-rooms and is 100% occupied. The motel is located a block away from Virginia Street, Reno’s bustling main thoroughfare. Additionally, this location features convenient access to the best of Midtown’s restaurants, retail shops, bars, and coffee shops.
Investment highlights
- 9,660 SF multifamily property
- 35 motel rooms/studios converted for extended living
- Located in Reno’s Midtown District
- Built in 1958
- 100% Occupancy
- 21 parking spaces
- 2 Story Brick/masonry construction
Listing Contacts
Listed by Dickson Commercial Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$144,929.00
$12,077.42/mo
Valuation Metrics
0
DSCR
4.46%
Cap Rate
4.46%
ROI
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