1809 16th St, Wheatland, WY 82201 For Sale

Marcus & Millichap is pleasured to present this exclusive offering of the Best Western Torchlite, a 50-room recently renovated turnkey hotel offering an exceptional opportunity to acquire a nationally branded asset well below replacement cost. Recently renovated in 2024, the property is eligible for Best Western’s Auto Transfer Program, allowing a seamless ownership transition and immediate brand continuity.

Strategically positioned along Interstate 25 with approximately 25,000 vehicles per day, the hotel benefits from strong transient demand and excellent visibility. Additional demand drivers include proximity to Laramie River Station, a major coal-fired power plant located just 10 minutes away, providing consistent corporate and extended-stay business.

The property presents significant operational upside as it is currently owned by out-of-state absentee owners, offering a hands-on investor the ability to improve margins through active management and local oversight. An on-site manager’s unit is included, supporting efficient day-to-day operations.

Offered at approximately $57,000 per key and 2.7x Room Revenue Multiplier, the hotel is priced far below estimated replacement costs of $150,000 per key, making this an attractive entry point into a stabilized, branded hospitality asset with both cash flow and value-add potential.