515 Cornell Ave - Hospitality FOR SALE


Lovelock, NV 89419
$1,200,000 USD
775-343-2706
515 Cornell Ave, Lovelock, NV for Sale
$1,200,000 USD
Hospitality - FOR SALE
1/9
null | 6.25% Cap Rate

515 Cornell Ave
Lovelock, NV 89419


HIGHLIGHTS

  • Prime Location In Lovelock
  • Properties have been recently renovated
  • Seller has been cleaning up the properties
  • New capital improvements: new roofs, windows, etc...

OVERVIEW

I am pleased to present the Lovelock Nugget Motel. A recently renovated 17 room motel. Occupancy is increasing as mining activity picks up. Recent property upgrades including new roof, new windows, new stucco and new exterior paint. Proforma Cap Rate 6.25% About half of the units have been remodeled inside as well. The Brookwood Motel (9 rooms) and RV Park (41 Spaces) is also available for sale with the Lovelock Inn that has 37 rooms. The Lovelock Inn also has a restaurant that could be opened or leased out. Portfolio Sale In Lovelock: - 55 Cornell ave, $2,500,000 - 205 Cornell, $1,800,000 - 515 Cornell , $1,200,000 (vacant and under renovation)

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$220 USD /SF

# OF ROOMS

17

PRICE/ROOM

$70,588 {currency}

CAP RATE

6.25%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lovelock Nugget Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1946

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,500 SF

ZONING

C

APN/PARCEL ID

001-121-04

ASK ABOUT THIS PROPERTY

Justin SigstadLogic Commercial Real EstateMore Info
775-343-2706

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Justin SigstadLogic Commercial Real EstateMore Info
775-343-2706

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