628 Richards StDouglas, WY 82633

Property Details for 628 Richards St

Year built

1934

Lot size

0.58 AC

Property size (Sq ft)

12,419 SF

Property type

Turn key restaurants

APN

48481

APU

48481

Description

This exceptional investment opportunity presents a well-established motel, bar, and restaurant located at 628 E Richards St, Douglas, Wyoming, 82633. The property boasts a prime location on a high-visibility road, ensuring excellent exposure and accessibility. The 33,626 square foot complex comprises five buildings, built in 1948, and includes 41 units, offering significant potential for revenue generation. The property sits on a generous 1.74-acre lot, zoned B2, providing ample space for expansion or redevelopment. Mature landscaping enhances the property's curb appeal and contributes to its established presence within the community. The existing motel, bar, and restaurant operation provides a solid foundation for continued success, while the expansive lot size and zoning offer flexibility for future development, including potential conversion to retail spaces. This unique property presents a rare chance to acquire a well-established business with significant upside potential in a desirable location. The asking price is $1,600,000. This is a turnkey operation with significant potential for growth and diversification. The property's history as a community fixture adds to its inherent value and appeal. The B2 zoning allows for a variety of uses, making it an attractive investment for both seasoned operators and new entrepreneurs.

• CAP approach

  CAP return

  Valuation

  6%

  $4,158,926

  6.5%

  $3,839,008

  7%

  $3,564,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,847,512

  Geo Method

  $2,585,666

• Alternative Use

  Use

  Valuation

  Residential

  $3,238,347

  Hospitality

  $2,966,309

  Educational

  $2,467,934

  Medical

  $2,552,810

  Retail

  $3,839,008

Location Insight

City

Douglas

County

Converse

State

Wyoming

Latitude

42.7488

Longitude

-105.38

Property Tax & Assessments

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