Stay Express Inn - 1349 Idaho St.
Hospitality | 9.71% CAP | 63 Keys in Elko, NV
Marketing description
The property is a 63-key, two-story, independent hospitality asset currently operating as Stay Express Inn / Budget Inn. Built in 1945 and extensively renovated in 2024, the motel consists of 25,593 SF situated on 0.90 acres (APN: 001-292-001). The asset offers surface parking, highly functional room layouts, and an efficient two-building footprint. Positioned along Elko’s primary corridor—Idaho Street—the property benefits from strong visibility, steady mining-driven demand, and close proximity to the airport, downtown, and regional event venues.
Investment highlights
This 63-key, fully renovated hospitality asset, currently operating as Stay Express Inn, offers established revenue stability driven by contracts with multiple mining companies, which account for nightly rentals averaging approximately 60% of total room inventory, contributing to an impressive ~73% annual occupancy (significantly outperforming Elko’s 60.7% market average). Strategically located just one block from Interstate 80 and two miles from Elko Regional Airport, the property ensures exceptional accessibility for both regional and transient travelers. The asset benefits from high visibility and is within walkable proximity to major convention venues, the downtown core, restaurants, cultural sites, and signature events like the Elko Mining Expo and the National Cowboy Poetry Gathering. A significant 2024 capital improvement program has elevated this turnkey asset’s operational competitiveness. The efficient 25,593 SF layout across two buildings maximizes operational flow and land use. This compelling investment is offered at $3,000,000, implying a valuation well below the submarket’s average of $93,000 per key..
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