four sevens motel - loopnet · other reports may be provided to qualified parties as marketing...
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FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
500 HIGH ST. | ELY, NV 89301
FOUR SEVENS MOTEL2-STORY 42-UNIT MOTEL
OFFERING MEMORANDUM - FOR SALE
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
This Offering Memorandum contains select information pertaining to the business and affairs of 500 High St. Ely, NV 89301. This Memorandum was prepared based on information supplied by Seller and Broker. It contains selected information about the Property and the real estate market, but does not contain all the information necessary to evaluate the acquisition of the Property. The financial projections contained herein (or in any other Confidential Information) are for general reference only. The projections are based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehen-sive statement of the terms or legal analysis of such documents.
The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Logic Commercial Real Estate (LCRE). The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Seller, nor their officers, em-ployees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. While the information contained in the Memorandum and any other Confidential Information is believed to be reliable, neither Broker nor Seller guarantees its accuracy or completeness. Due to the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum or any other Confidential Information. Although additional Confidential Information which may include engineering, environmental or other reports may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engi-neers, environmental and other experts.
By acknowledging your receipt of this Offering Memorandum from LCRE, you agree:1) The Offering Memorandum and its contents are confidential;2) You will hold it and treat it in the strictest of confidence; and3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
Seller and LCRE expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a pro-spective purchaser have any other claims against Seller or LCRE or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.
LCRE has a policy of proactive broker cooperation with the investment brokerage community. If applicable, a cooperating broker fee of the sales price shall be paid at closing to cooperating broker that procures and represents the buyer that acquires this property. If applicable, cooperation does not include brokers that represent themselves as Principals or broker’s whose member of his immediate family is participating in the purchase of the property. No broker will be recognized on a prospect that has previously contacted or been contacted by the Seller or the Seller’s representatives.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT LISTING AGENTS FOR MORE DETAILS.
CONFIDENTIALITY AGREEMENT
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
TABLE OF CONTENTS
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6
Executive SummaryProperty Details
Aerial MapCity Map
Room Photos
Market InformationDemographics
City Profile: Ely, NV
CHRIS RICHARDSON, CCIMDirector
JASON OTTERDirector
LESLLIE VASQUEZAssociate
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
1
1Property DetailsAerial Map
City MapRoom Photos
EXECUTIVE SUMMARY
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
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Logic Commercial Real Estate is pleased to present an opportunity to purchase the Four Sevens Motel in Ely, NV, located in White Pine County. The 42-unit property sits on High St., and is currently managed by the Hotel Nevada. The property was built in 1992. The property enjoys positive reviews from Yelp.com and Tripadvisor.com.
Ely is the largest city in White Pine County, Nevada and due to mining and outdoor recreationalists, the population experiences good tourism gains. It features close to proximity to many active mining opera-tions and is a hotspot for outdoor huntsmen. Also, close to Ely are national and state parks including the Great Basin National Park, Cave Lake State Park and the Ward Charcoal Ovens State Historic Park. The town features an airport, and has access to US Route 50.
Property Overview
PROPERTY NAME Four Sevens MotelADDRESS 500 High St. Ely, NV 89301BUILDING SIZE 2-Story 42-unit motelYEAR BUILT 1992APN 001-154-05LAND SIZE 0.57 AcresZONING MotelPURCHASE PRICE $1,450,000PRICE PER UNIT $34,523
EX
ECU
TIV
E SU
MM
AR
Y > 42-unit motel located in White Pine County
> Reservations managed by Hotel Nevada group
> Charming exteriors
> Functional site design and room units
> On-site managers office and laundry facilities
Investment Highlights1
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
AERIAL MAP
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3rd
ST.
HIGH ST.
4th ST.
6th
ST.
7th
ST.
SUBJECT
JAILHOUSE MOTEL
HOTEL NEVADAELY CITY PARK
COUNTY OFFICES
FIRST NATIONALBANK OF ELY
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
CITY MAP
4
SUBJECT
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
STANDARD ROOM PHOTOS
Queen bed
Flat screen television
Refrigerator
Microwave
Dinette table & Chairs5
ROOM AMENITIES:
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
6MARKET INFORMATIONDemographics
City Profile: Ely, NV
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
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DEMOGRAPHICS
FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
CITY PROFILE: ELY, NV
Ely (/’i:li/, ee-lie) is the largest city and county seat of White Pine County, Nevada, United States. Ely was founded as a stagecoach station along the Pony Express and Central Overland Route. Ely’s mining boom came later than the other towns along US 50, with the discovery of copper in 1906. Though the railroads connecting the First Transcontinental Railroad to the mines in Austin and Eureka have long been removed, the railroad to Ely is preserved as aheritage railway by the Nevada Northern Railway and known as the Ghost Train of Old Ely.[1][2] As of the 2010 census, the population was 4,255.
Ely is a tourism center, and is home of the Nevada Northern Railway Museum. Nearby are Great Basin National Park, Cave Lake State Park, and Ward Charcoal Ovens State Historic Park, as well as the state parks of Lincoln County, Nevada.The railroad museum features the Ghost Train of Old Ely, a working steam-engine passenger train that travels the historic tracks from Ely to the Robinson mining district.Ely is the nearest town to the proposed site of the Clock of the Long Now on Mount Washington.[4]The historic six-story Hotel Nevada[5] is located in downtown Ely. Opened in 1929, it was the tallest building in Nevada well into the 1940s and was the state’s first fire-proof building. It is a popular lodging, dining, gaming and tourist stop.The long stretch of road on State Route 318 near Ely is known for the annual 90 miles (140 km) Silver State Classic Challenge course, an authorized time-trialCannonball Run-style race that attracts entries from all over the world.The Ely Renaissance Society has facilitated more than 20 outdoor murals and sculptures in the downtown area. Artists from all over the world have been commissioned to create images of area history, using different art styles. They also maintain a historical village consisting of a general store and several shotgun houses which display the history of the ethnic groups that came to the area to work for the railroad and the mine.[6]
Commercial air service was available at Ely Airport until March 31, 2013. In 2011 the Ely Airport was frequently cited as one of the rural airports receiving federal subsidies through the Essential Air Service program.[18]Major roads include:· U.S. Route 6· U.S. Route 50 (Ely is the eastern end of the portion of U.S. Route 50 known as “The Loneliest Road in America”)· U.S. Route 93The historic Lincoln Highway, the first road across America, went through Ely, entering town from the north on U.S. Route 93 and depart-ing town to the west on U.S. Route 50.Ely is 77 miles (124 km) east of Eureka, Nevada, 153 miles (246 km) west of Delta, Utah, 105 miles (169 km) north of Pioche, Nevada, 139 miles (224 km) south of Wells, Nevada, and 120 miles (190 km) south of West Wendover, Nevada.[19]
source: https://en.wikipedia.org/wiki/Ely,_Nevada
Downtown Ely, NV
Ely, NV in 2006
Ely, Nevada
Attractions
Transportation
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FOUR SEVENS MOTEL • Offering MemorandumThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof
FOUR SEVENS MOTEL500 HIGH ST. ELY, NV 89301
CHRIS RICHARDSON, CCIMDirector
JASON OTTERDirector
LESLLIE VASQUEZAssociate
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