1015 Haynes AveMiles City, MT 59301

  • Hospitality properties
  • 25,202 SF
For Sale

Property Details for 1015 Haynes Ave

Year built
1970
Construction
WOOD
Lot size
0.73 AC
Property size (Sq ft)
25,202 SF
Zone code
6
Property type
Hospitality properties
Property subtype
Hotels
APN
14-1740-34-4-16-01-0000
APU
14174034416010000

Description

This exceptional hospitality investment opportunity presents a 53-room, two-story hotel totaling 26,272 square feet situated on a 0.7-acre lot at 1015 S Haynes Ave, Miles City, MT 59301. Built in 1969 and renovated in 2012, the property boasts 49 guest rooms and four suites, along with two additional apartment units (one 2-bed/1-bath, one 2-bed/2-bath). The hotel features 44 parking spaces and enjoys prime visibility along State Route 59 with direct access to Interstate 94, experiencing over 14,000 vehicles per day. Recent upgrades include a new roof, exterior repainting, updated unit appliances and furniture, and refreshed landscaping and facade. Approved for re-flagging with Best Western or SureStay, this asset offers significant value-add potential. The hotel includes a modern business center, an indoor pool, hot tub, and sauna, catering to both business and leisure travelers. Its strategic location near major employers like Billings Clinic, Fort Keogh, and Miles Community College ensures consistent demand. Proximity to downtown Miles City (2 miles) provides easy access to restaurants and retail. The property's current occupancy rate is approximately 53%, presenting opportunities to enhance profitability through operational improvements and strategic marketing. No new hotel supply has entered the market in the past five years, minimizing competition. This well-maintained property offers a strong foundation for a successful hospitality venture in a growing market. The APN is 14-1740-34-4-16-01-0000. The permitted zoning is 6.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,521,337
    6.5%
    $6,019,696
    7%
    $5,589,718
  • Comparable approach

    Method
    Valuation
    Relative Method
    $14,851,052
    Geo Method
    $4,893,144
  • Alternative Use

    Use
    Valuation
    Residential
    $6,571,759
    Hospitality
    $6,019,696
    Educational
    $5,008,316
    Medical
    $5,180,560
    Retail
    $7,790,714
1015 Haynes Ave, Miles City, Montana

Location Insight

City
Miles City
County
Custer
State
Montana
Latitude
46.3988
Longitude
-105.823

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$41,305
-
-
$2,304,000
-
$221,329
$2,082,671
$2,304,000

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