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Butte, Montana Motel For Sale


 

Address: 4655 Harrison Ave.
Butte, MT 59701
Units: 150
Rate: 80
Asking Price: $4,800,000.00

Other Features or Comments about the Hotel / Motel / Bed & Breakfast for Sale:

Fully equipped, full service hotel and convention center.
Built in the late seventies / early eighties, opened in early 1984

Option #1, Asking price of $4,800,000.00 or best offer, Will carry up to 60% for five years at 5% or prime plus 2% whichever is greater, will negotiate.

Option #2, Would consider selling up to 30-35% for around 2.7 Million, $800,000.00 equity buy in and $1,900,000.00 would go to capital investment, 100% of which would go towards guest room renovations and public area upgrades. Estimated value after upgrades, $7,300,000.00, Potential for success go up to 90%.

Option #3, Wood consider selling the property only to the right buyer. Priced at around $250,000.00 to #300,000.00 per acre. Total acreage, 14.5.

Owner would sell off the existing assets and turn the property over to the new owners within
Currently there are ($846,378.00)(projected revenues) in advance reservations on the books through 2012/2013/2014.
Butte Silver Bow Tax, Assessed value ($6,379,600.00)
2011 property taxes ( $38,107.71+84.86)
Two story brick building, Anderson windows
Green energy certify building
Currently owed on property, $775,000.00 SBA assumable lone, $428,000.00 non assumable bank loan, $250,000.00 non assumable personal loan.

Onsite parking for over 450 cars, with an additional 175 curb side parking spots
It's really, the only true convention center in Butte, and or the surrounding areas within 120 miles
All beverage and gaming license including off premise catering endorsements on both.

Current cost to rebuild the hotel at current market numbers, including Building at (175,000 sq. ft. @ 100 per sq. ft.= $17,500,000.00,), Property at (14,5 acres at $250,000.00 per -acre = $3,625,000.00), and Furnishings and Equipment at (estimated at $2,750,000.00) Total net cost to rebuild would be approximately $23,875,000.00.

The hotel sits on 14.5 Acers of prime real estate, locater directly across from Burt Money Airport on Highway () on Harrison Avenue, current value per Acers. 700 foot of frontage on Harrison Avenue.

Contained within the approximately 175,000 Sq Ft. building are the following,

Elegant lobby , front desk office,150 large guest rooms of which there are two very large two king room bridle suite's, two mini suits, (90) double queens, (39)single queens, (12) King suits,. four linen closets, one guest laundry center, nine storage areas, Largest indoor pool in south west Mt. including a 105 ft. water slide, ten person jacquie, new sauna, exercise room, 3900 sq ft of pool side decks, 1288 sq ft U shaped balcony above the pool decks, large outdoor courtyard for summer party, Largest fully equipped kitchen in south western Mt. capable of serving out over fifteen hundred catered meals, three times a day. (72) seat cafe, (68) seat fine dining restaurant which is expandable to 100 seats, (1800 sq ft) catering hall way and storage facility, (4788 sq ft) convention center with a (1350 sq ft) pre-function and registration area, Convention center is setup with state of the art sound demising walls which will break up the area in to five separate sound proof rooms , plus two brake out rooms, (7098 sq ft) Ballroom with (1232 sq ft) balcony, half on the east and west sides which will accommodate up to one hundred fifty guest on each side, Elevator, full capacity commercial laundry, Two mechanical rooms, maintenance facility, Sales and marketing office, Accounting office, Security office, Executive office, Lounge office, chattering and setup office, housekeeping office, etc.

Currently in stalling state of the art security system with sixty four cameras collectively inside and out. All equipment is on site, only the wiring and camera installation needs to be completed. Value $65.000.

Two (sq ft) light oak portable dance floors including rolling storage carts.
One upright piano.
 

Seller Information

Contact Name: www.myhotelis4sale.com
 Ken Burningham
 Mercer Island Venture Group
 17411 NE 46th Street Unit 16
 Redmond, Washington 98052
Phone Number 206-817-2542

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Last Revised:  January 16, 2012


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