920 S 3rd Ave - Hospitality FOR SALE


Clear Lake, SD 57226
$695,000 USD
520-664-4091
920 S 3rd Ave, Clear Lake, SD for Sale
$695,000 USD
Hospitality - FOR SALE
1/13
null | Request Cap Rate

920 S 3rd Ave
Clear Lake, SD 57226


HIGHLIGHTS

  • 28 units, 2 story, interior corridor
  • Priced under $25,000/key
  • Motivated Seller, Bring all Offers
  • Heavily discounted franchise fees can be transferred to new owner with zero to minimal PIPs OFFERING SUMMARY Sale Price: Building Size: Lot Size: Year
  • Financing in place for qualified buyers
  • $277,677 Last 3 years Avg Room Revenue

OVERVIEW

The Americas Best Value Inn & Suites - Clear Lake, SD, operated by Sonesta International Hotels Corp, offers a promising investment in the economy lodging market. Established in May 1994, this hotel is strategically positioned on an interstate, enhancing its visibility and accessibility. Occupying a 1.14-acre site with a total building area of 20,430 square feet, it includes 28 rooms across two floors with interior corridors. The property's comprehensive renovation in December 2006, which updated amenities such as high-speed internet access, smoke-free rooms, and a 1,500 square foot meeting space, catering to business and leisure travelers alike. Additionally, its placement in an Opportunity Zone may offer attractive tax benefits, making it a valuable asset for investors looking to capitalize on the commercial potential of the economy sector of the hospitality industry.

FOR SALE DETAILS

PRICE

$695,000 USD

PRICE/SF

$34 USD /SF

# OF ROOMS

28

PRICE/ROOM

$24,821 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Americas Best Value Inn & Suites Clear Lake

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1994

PARKING SPACES

49

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,474 SF

ZONING

C-1

APN/PARCEL ID

3718

ASK ABOUT THIS PROPERTY

Jigar DesaiNewGen AdvisoryMore Info
520-664-4091

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Jigar DesaiNewGen AdvisoryMore Info
520-664-4091

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.