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Wallace Hotel 218 Commercial Ave 11 Room Hotel Wallace, NE 69169 $210,000 ($19,091/Room) 5% Cap Rate

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LCBR_22751

Property Facts

Price	$210,000	Lot Size	0.15 AC
Price Per Room	$19,091	Building Size	11,250 SF
Sale Type	Investment	No. Rooms	11
Cap Rate	5%	No. Stories	2
Sale Condition	Business Value Included	Year Built	1931
Property Type	Hospitality	Parking Ratio	0.64/1,000 SF
Property Subtype	Hotel General Retail Storefront Retail/Residential Office Office Residential	Corridor	Interior
Building Class	C
Zoning	Commercial - COMMERCIAL ZONE

Price	$210,000
Price Per Room	$19,091
Sale Type	Investment
Cap Rate	5%
Sale Condition	Business Value Included
Property Type	Hospitality
Property Subtype	Hotel General Retail Storefront Retail/Residential Office Office Residential
Building Class	C
Lot Size	0.15 AC
Building Size	11,250 SF
No. Rooms	11
No. Stories	2
Year Built	1931
Parking Ratio	0.64/1,000 SF
Corridor	Interior
Zoning	Commercial - COMMERCIAL ZONE

High Speed Internet Access

Public Access Wifi

About 218 COMMERCIAL AVE , WALLACE, NE 69169

WHAT A GREAT OPPORTUNITY TO OWN A PIECE OF HISTORY! THE WALLACE HOTEL AND LAUNDROMAT. NET INCOME DOES NOT INCLUDE AND ALLOWANCE FOR THE OWNERS UNIT IF IT WERE RENTED OUT. The Wallace Hotel (Wallace-hotel.net) is located in Wallace,NE about 20 miles south of I-80 at the Sutherland,NE exit (#158). Currently offering daily and monthly rates. A “must stay” for hunters, truckers, workers, and anyone who needs a comfortable place to stay. Amenities include dish network and Wi-Fi. There also a on-site public laundromat with multiple washers and dryers for additional income. A 1950’s style diner is used for renting out events up to 40 people. There is a total of 10 hotel rooms/suites and the owner/manager unit which is 3 br, 4 ba that could also be rented out and includes an office, living room, dining room, kitchen, and basement with workshop and storage space. Landscaped backyard includes patio and carport. The hotel rooms include: 3 rooms with full size bed and bath; 1 with queen size bed, bath, kitchenette; 1 room with 2 twin beds, 1 room with full size bed - those 2 rooms share a bath and kitchenette; 1 bedroom suite with kitchen, living room, and bath; 2- 2 bedroom suites one with 1 full size bed and a twin bed and one with 2 twin beds, each has living room, kitchen, and bath; 1- 2 bedroom suites with 1 full size bed, 2 twin beds, living room, kitchen and bath.