1809 N 16th St - Hospitality FOR SALE


Wheatland, WY 82201
$2,850,000 USD
208-557-4243
1809 N 16th St, Wheatland, WY for Sale
$2,850,000 USD
Hospitality - FOR SALE
1/14
null | Request Cap Rate

1809 N 16th St
Wheatland, WY 82201


HIGHLIGHTS

  • • Recently Renovated in 2024, Eligible for Auto Transfer Program
  • • Operational Upside- Owned by Out of State Absentee Owners
  • • Located Along I-25, which sees 20,000 Vehicles Per Day
  • • Priced at 57K/Key 2.7X RRM- Well Below Replacement Cost of 150K
  • • 10 Minutes from Laramie River Station (Large Coal Fired Power Plant)
  • • On Site Manager Unit Included

OVERVIEW

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. Please visit https://www.marcusmillichap.com/properties/194353/best-western-torchlite to access due diligence. Broker of Record: Adam Lewis 1144 15th St Denver, CO 80202 303-328-2000 License # RE-16571

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$148 USD /SF

# OF ROOMS

50

PRICE/ROOM

$57,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Best Western Torchlite

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1976

PARKING SPACES

62

LAND DETAILS

LAND ACRES

2.54 AC

LAND SF

110,642 SF

ZONING

CS

APN/PARCEL ID

R0001662

ASK ABOUT THIS PROPERTY

Jay AroraMarcus & MillichapMore Info
208-557-4243

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Jay AroraMarcus & MillichapMore Info
208-557-4243

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