402 N 12th Street
- 12,540 SF hotel featuring 40 guest rooms and 40 parking spaces
- Renovations nearing completion, including a one-bedroom manager’s apartment
- Potential to apply for a liquor license or gaming license, subject to applicable approvals
- 2023 and 2024 revenue figures reflect temporary closure during renovations
- Franchise interest in the property presents potential for continued hospitality operations
- Truck parking facilities located at the rear of the building
Property Description
This 12,540 SF full-service hospitality property offers 40 units in a two-story configuration and presents a compelling value-add investment opportunity. Built in 2000 and zoned COMMERCIAL, the property has seen renovations that are nearly complete, including a manager’s one-bedroom apartment. A franchise has expressed interest in the property, adding to its repositioning potential. The property may qualify for liquor or gaming licensing, creating additional operational flexibility for a future owner. Current occupancy is 45.43%. Revenue in 2023 and 2024 reflects impacts from renovation-related shutdown periods.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Hospitality |
| Price: | $1,750,000 |
| No. of Units: | 40 |
| Year Built: | 2000 |
| Lot Size: | 0.89 Acres |
| Opportunity Zone: | No |
| Price per unit: | $43,750 |
| Property Website | Click Here |
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