88 room hotel in state capitol city Cheyenne WY. Currently underutilized and under marketed. Convert to other use, such as apartment, assisted living, self storage, office, etc., or operate as hotel. Close to state offices and capitol building. Downtown Cheyenne location, convenient to I-80, and state highways 85 & 30. Prime commercial corridor location. Being operated also as an extended stay / month to month lodging facility. Cheyenne is short of apartment space and demand is high for extended stay properties. No national affiliation - independently operated. Redevelopment potential, or conversion to flagged hotel.
Sales Info:
■ Commision split: 3.0%
Location Description:
Corner of Central Avenue and E 18th Street. Downtown Cheyenne
Highlights:
■ 88 room independent extended stay hotel/apartment prime for upgrade/conversion
■ Unused swimming pool building, dining room ,meeting area, restaurant space
■ Low cost per key allows room for cosmetic upgrades and remodel
■ Underground parking in addition to surface parking
■ Restaurant space and dining area
■ Main commercial corridor in downtown Cheyenne WY
■ Blocks from state capitol, and in the downtown area
■ High demand for extended stay rooms in Cheyenne
■ Operate or redevelop for other use
■ Under capacity history due to small family labor capabilities
■ New roof and repairs in last five years
Pricing: $2,900,000
Availability: Now
Listing ID: 685595
Save and Continue Browsing
© 2008-2024 Rofo.com. All rights reserved.