Lovelock Inn | 55 Cornell Ave
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Lovelock Inn 55 Cornell Ave
37 Room Hotel Lovelock, NV 89419 $3,511,700 CAD ($94,911 CAD/Room) 4.89% Cap Rate
Investment Highlights
- Prime Location In Lovelock
- Seller has been cleaning up the properties
- New capital improvements: new roofs, windows, etc...
Executive Summary
RE/MAX Commercial is pleased to present the Lovelock Inn for sale in Lovelock, NV. A great investment opportunity comprised of a 37 rooms motel called Lovelock Inn. Property also has a restaurant that could be opened or leased out. Occupancy is increasing as mining activity picks up. Recent property upgrades including new roof and exterior paint.
The Lovelock Inn is also available for sale with the Lovelock Nugget Motel that has 17 rooms and It also includes the Brookwood Motel and RV Park that has 41 mobile home spaces and a 9 room motel. The property is almost 4 acres in size. .
Portfolio Sale In Lovelock:
- 55 Cornell ave, $2,500,000
- 205 Cornell, $1,800,000
- 515 Cornell , $1,200,000 (vacant and under renovation)
The Lovelock Inn is also available for sale with the Lovelock Nugget Motel that has 17 rooms and It also includes the Brookwood Motel and RV Park that has 41 mobile home spaces and a 9 room motel. The property is almost 4 acres in size. .
Portfolio Sale In Lovelock:
- 55 Cornell ave, $2,500,000
- 205 Cornell, $1,800,000
- 515 Cornell , $1,200,000 (vacant and under renovation)
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,511,700 CAD | Lot Size | 5.28 AC |
| Price Per Room | $94,911 CAD | Building Size | 6,278 SF |
| Sale Type | Investment | No. Rooms | 37 |
| Cap Rate | 4.89% | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1945 |
| Property Subtype | Hotel | Parking Ratio | 16.41/1,000 SF |
| Building Class | C | Corridor | Interior |
| Price | $3,511,700 CAD |
| Price Per Room | $94,911 CAD |
| Sale Type | Investment |
| Cap Rate | 4.89% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 5.28 AC |
| Building Size | 6,278 SF |
| No. Rooms | 37 |
| No. Stories | 1 |
| Year Built | 1945 |
| Parking Ratio | 16.41/1,000 SF |
| Corridor | Interior |
Amenities
- Convention Hotel
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 37 | $157.32 CAD | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $245,792 CAD (2024) | |
| Land Assessment | $58,174 CAD (2024) | Total Assessment | $303,966 CAD (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$58,174 CAD (2024)
Improvements Assessment
$245,792 CAD (2024)
Total Assessment
$303,966 CAD (2024)
zoning
| Zoning Code | C1 (Hotel Use) |
| C1 (Hotel Use) |
-
Kevin Sigstad -
Justin Sigstad -
RE/MAX Premier Properties
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Lovelock Inn | 55 Cornell Ave
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