501 6Th StThermopolis, WY 82443

Property Details for 501 6Th St

Year built

1962

Lot size

0.39 AC

Property size (Sq ft)

6,160 SF

Property type

Motels

APN

42950121800500

APU

42950121800500

Description

This exceptional investment opportunity presents an 18-unit motel situated on a 0.39-acre lot at 501 S 6th Street in Thermopolis, Wyoming, zip code 82443. The Elk Antler Motel boasts a highly visible location on the main highway, offering easy access and high traffic exposure. The property is a well-established landmark in the community. Many recent upgrades and updates have been completed, ensuring the motel is well-maintained and attractive to guests. All rooms are fully furnished with beds, flat-screen televisions, microwaves, air conditioners, and refrigerators. A variety of room types are available, including singles, doubles, triples, and suites, catering to a diverse range of travelers. The motel features a paved parking lot for convenient guest parking. Note that one unit is not yet fully completed. The property's mixed-use zoning allows for the possibility of attached living quarters, making it an ideal owner-operator opportunity. The asking price for this turnkey operation is $649,000. This presents a rare chance to acquire a profitable and established business in a desirable location. The property's strong history and current condition make it an attractive investment for those seeking a stable and potentially high-return venture in the hospitality sector.

• CAP approach

  CAP return

  Valuation

  6%

  $1,553,541

  6.5%

  $1,434,038

  7%

  $1,331,606

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,660,350

  Geo Method

  $1,196,007

• Alternative Use

  Use

  Valuation

  Residential

  $1,565,553

  Hospitality

  $1,434,038

  Educational

  $1,193,103

  Medical

  $1,234,135

  Retail

  $1,855,937

Location Insight

City

Thermopolis

County

Hot Springs

State

Wyoming

Latitude

43.6413

Longitude

-108.212

Property Tax & Assessments

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