Americas Best Value Inn Hinckley, MN
920 3rd Ave S, Clear Lake, SD 57226, USABasics
- Date added: Added 1 week ago
- Category: Motel
- Rent Period: Daily
- Type: Limited Service
- Status: For Sale
- Guestrooms: 28
- Meeting space sq ft: 1500
- Floors: 1
- Area, sq ft: 20430 sq ft
- Lot size, sq ft: 49658.4 sq ft
- Year built: 1994
- Year remodeled: 2006
- Price per sq ft: $61.80
- Price Per Key: $24,821
- Broker: NewGen Advisory
- Agent: Jigar “Jay” Desai
- Agent Phone: 520-664-4091
- Agent Email: jigar.desai@newgenadv.com
- Website:: https://newgenadv.com/
Description
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Description:
Property Description
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.
Location Description
Clear Lake, South Dakota, is a picturesque small town located in Deuel County, embodying the quintessential Midwestern charm. Known for its serene landscapes and friendly community, Clear Lake offers a peaceful retreat with its namesake, Clear Lake, providing a focal point for outdoor recreation. Residents and visitors alike enjoy activities such as boating, fishing, and picnicking in the summer, while winter brings opportunities for ice fishing and snowmobiling.
The town boasts a welcoming main street, featuring local shops and eateries, and hosts several community events throughout the year that emphasize its close-knit community spirit. With its rich agricultural background, Clear Lake remains a vibrant town where tradition and leisure harmoniously blend.
Investment Highlights
- 28 units, 2 story, interior corridor
- Priced under $25,000/key
- 2024 room revenue: $221,654.04
- 2023 room revenue: $273,130.12
- 2022 room revenue: $338,245.39
- Financing in place for qualified buyers
- Absentee managed
- Heavily discounted franchise fees – can be transferred to new owner with minimal to no PIP
- Motivated seller, bring all offers
Location
Building Details
- Cooling features: PTAC
- Heating features: PTAC