230 W 400 Scipio, UT 84656

Facts

• Year Built: 01/01/2001
• Property ID: 877438206
• MLS Number: 1895053
• Property Type: Other
• County: MILLARD
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. 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.