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230 W 400 N

Scipio, UT 84656
  • $2,000,000
  • STATUS: Active
  • ON SITE: 243 Days
  • ID#: 1895053
$2,000,000
  • 0
    BEDS
  • 1.66
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2001
County:

School Ratings & Info

Description

KW Commercial is pleased to present the exclusive listing of the Scipio hotel in Scipio, Utah. This is an exceptional investment opportunity with Value Add Potential. The offering is a 32-key interior corridor hotel located right off of Interstate 15. The property is currently run as a non-franchised independent hotel operation and has a 13.11% CAP rate. The two-story building was built in 2001 and has an onsite manager's apartment. It's prime location, situated at the crossroads of major highways, makes it easily accessible to travelers from all corners of the country. It's also the gateway to Northern and Southern Utah with it being 1 hour 40 minutes to Salt Lake City and 2 hours 30 minutes to St. George. The hotel's ideal location, combined with the exclusivity as the only hotel in Scipio, means that weekends are constantly at capacity, especially during the summer months. Amazing Value Add Potential. The current owner is an absentee owner, which means hands on management or an owner/operator could be a great value add for this property. Rebranding this independent hotel as a branded franchise could also be a wonderful value add for this property. In addition, Property had a pool that is no longer in operation. The current owner had plans to replace the space with 4-5 suites to generate additional revenue but didn't get the chance. The owner has turned the managers apartment into an extended stay and is currently charging $2500 a month, with limited housing in town or the surrounding area this could be a great value-add opportunity for additional units. Vacant land behind the hotel allows for additional expansion or possible space for an RV park. With pricing at $2,000,000 this puts you at only $62,500/key and a price per SF of only $108.61, which sits far below the replacement cost. Scipio hotel combines comfort, convenience, and a promising investment potential, making it an enticing choice for investors seeking a thriving hospitality venture. PLEASE DO NOT CONTACT THE OWNER OR ANY EMPLOYEES OR TOUR THE PROPERTY WITHOUT AN APPOINTMENT. All inquires must go though the listing broker. Reach out to the listing agent for the financial packet.

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Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2024-04-03T23:41:25.363. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
www.lancegrouphomes.com/homes/142549527
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230 W 400 N Scipio, UT 84656

  • Price: $2,000,000
  • Status: Active
  • On Site: 243 Days
  • ID#: 1895053
0
Beds
0
Baths
0
½ Baths
1.66
Acres
2001
Built
Neighborhood:
Fillmore; Flowell
County:
Millard
Area:
Fillmore; Flowell
Property Description
KW Commercial is pleased to present the exclusive listing of the Scipio hotel in Scipio, Utah. This is an exceptional investment opportunity with Value Add Potential. The offering is a 32-key interior corridor hotel located right off of Interstate 15. The property is currently run as a non-franchised independent hotel operation and has a 13.11% CAP rate. The two-story building was built in 2001 and has an onsite manager's apartment. It's prime location, situated at the crossroads of major highways, makes it easily accessible to travelers from all corners of the country. It's also the gateway to Northern and Southern Utah with it being 1 hour 40 minutes to Salt Lake City and 2 hours 30 minutes to St. George. The hotel's ideal location, combined with the exclusivity as the only hotel in Scipio, means that weekends are constantly at capacity, especially during the summer months. Amazing Value Add Potential. The current owner is an absentee owner, which means hands on management or an owner/operator could be a great value add for this property. Rebranding this independent hotel as a branded franchise could also be a wonderful value add for this property. In addition, Property had a pool that is no longer in operation. The current owner had plans to replace the space with 4-5 suites to generate additional revenue but didn't get the chance. The owner has turned the managers apartment into an extended stay and is currently charging $2500 a month, with limited housing in town or the surrounding area this could be a great value-add opportunity for additional units. Vacant land behind the hotel allows for additional expansion or possible space for an RV park. With pricing at $2,000,000 this puts you at only $62,500/key and a price per SF of only $108.61, which sits far below the replacement cost. Scipio hotel combines comfort, convenience, and a promising investment potential, making it an enticing choice for investors seeking a thriving hospitality venture. PLEASE DO NOT CONTACT THE OWNER OR ANY EMPLOYEES OR TOUR THE PROPERTY WITHOUT AN APPOINTMENT. All inquires must go though the listing broker. Reach out to the listing agent for the financial packet.
Exterior Features

Attached Garage YN No Carport YN No Construction Status Blt./Standing Covered Spaces 0 Frontage Length 0.0 Garage YN No Horse Property YN No Lot Size Dimensions 0.0x0.0x0.0 Mobile Length 0 Mobile Width 0 Open Parking YN No Parking Total 0 Pool Private YN No Spa YN No View YN No Waterfront YN No

Interior Features

Bathrooms Partial 0 Cooling YN No Fireplace YN No Heating YN False Rooms Total 0

Property Features

Association YN No Cross Street 400 Current Use Commercial Lease Considered YN No New Construction YN No Property Attached YN No Property Condition Blt./Standing Property Sub Type Hotel/Motel Senior Community YN No Tax Annual Amount 10755

Listing provided courtesy of KW South Valley Keller Williams: 801-676-5700. Information deemed reliable but not guaranteed accurate. Buyer to verify all information. © 2024 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved.


Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2024-04-03T23:41:25.363. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
 
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