Lucky Motel 1011 E 4th St 23 Room Hotel Reno, NV 89512 $2,012,500 ($87,500/Room)
INVESTMENT HIGHLIGHTS
- Suitable for hospitality, medical, nonprofit, or government redevelopment.
- 23 rooms with steady income and upgrade potential.
- Opportunities to improve interiors and curb appeal.
EXECUTIVE SUMMARY
The Lucky Motel
1011 E 4th St, Reno, NV 89512
This 23-room motel, offered at $2,012,500 ($87,500 per room), generates consistent income with opportunities for modernization to increase revenue potential. Its layout and prime location also position it as a strong candidate for redevelopment for hospitality, medical, nonprofit, or government use.
Property Highlights
- Layout: 23 guest rooms accommodating a mix of short-term travelers and extended-stay tenants.
- Redevelopment Opportunity: Suited for transformation into a medical facility, nonprofit base, or government building to meet evolving community needs.
- Income: Reliable cash flow with opportunities to enhance operational efficiency.
- Improvement Potential: Ideal for interior updates, exterior upgrades, and operational enhancements to maximize profitability.
Strategic Location
- Located along Reno’s revitalized 4th Street, a growing corridor with expanding commercial and cultural activity.
- Close to downtown Reno, University of Nevada Reno (UNR), and major transportation routes, ensuring consistent demand.
- Near popular dining, entertainment, and retail destinations, supporting steady occupancy.
- Well-positioned to benefit from Reno’s continued economic development and rising tourism activity.
1011 E 4th St, Reno, NV 89512
This 23-room motel, offered at $2,012,500 ($87,500 per room), generates consistent income with opportunities for modernization to increase revenue potential. Its layout and prime location also position it as a strong candidate for redevelopment for hospitality, medical, nonprofit, or government use.
Property Highlights
- Layout: 23 guest rooms accommodating a mix of short-term travelers and extended-stay tenants.
- Redevelopment Opportunity: Suited for transformation into a medical facility, nonprofit base, or government building to meet evolving community needs.
- Income: Reliable cash flow with opportunities to enhance operational efficiency.
- Improvement Potential: Ideal for interior updates, exterior upgrades, and operational enhancements to maximize profitability.
Strategic Location
- Located along Reno’s revitalized 4th Street, a growing corridor with expanding commercial and cultural activity.
- Close to downtown Reno, University of Nevada Reno (UNR), and major transportation routes, ensuring consistent demand.
- Near popular dining, entertainment, and retail destinations, supporting steady occupancy.
- Well-positioned to benefit from Reno’s continued economic development and rising tourism activity.
PROPERTY FACTS
| Price | $2,012,500 |
| Price Per Room | $87,500 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,555 SF |
| No. Rooms | 23 |
| No. Stories | 2 |
| Year Built | 1954 |
| Tenancy | Single |
| Parking Ratio | 1.4/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | MU |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 23 | $59.00 | - |
1 of 1
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 008-255-09 | Improvements Assessment | $116,338 |
| Land Assessment | $52,112 | Total Assessment | $168,449 |
