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Econo Lodge Inn & Suites 423 W Main St 44 Room Hotel Vernal, UT 84078 $3,495,000 ($79,432/Room)
INVESTMENT HIGHLIGHTS
- Fitness Facility
- Indoor Pool
- Business Center
EXECUTIVE SUMMARY
Econo Lodge Inn & Suites... Vernal, Utah, offers a prime investment opportunity with 44 guest rooms on 1.3 acres along Main Street. The property features modern amenities, a seasonal outdoor pool, an indoor hot tub, a business center, and a fitness facility. It will have a "soft branding" affiliation with Choice Hotels-EconoLodge, including $240,000 in key money and minimal PIP requirements. Approved RAMP grant for solar panels. Additional highlights include a $99,000 REMP Grant for solar panels and zoning that allows a 40% Vernal City reimbursement for exterior improvements up to $100,000. With no new hotel construction in the pipeline and a 4-star TripAdvisor rating.
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
| Price | $3,495,000 | Building Size | 22,262 SF |
| Price Per Room | $79,432 | No. Rooms | 44 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1953/2004 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | B | Parking Ratio | 2.92/1,000 SF |
| Lot Size | 1.30 AC | Corridor | Exterior |
| Zoning | CC1 | ||
| Price | $3,495,000 |
| Price Per Room | $79,432 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.30 AC |
| Building Size | 22,262 SF |
| No. Rooms | 44 |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2004 |
| Tenancy | Single |
| Parking Ratio | 2.92/1,000 SF |
| Corridor | Exterior |
| Zoning | CC1 |
AMENITIES
- Business Center
- Fitness Center
- Pool
- Shuttle Service
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Hot Tub
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $109.00 | - |
| Guest Room | 42 | $94.00 | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $307,983 | |
| Land Assessment | $426,851 | Total Assessment | $734,834 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$426,851
Improvements Assessment
$307,983
Total Assessment
$734,834
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Econo Lodge Inn & Suites | 423 W Main St
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