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    Magnuson Hotel in Ely, Nevada Title is generated by Realmo AI

    930 Aultman Street, Ely, NV 89301

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    For Sale
    $1,400,000

    COMMERCIAL - Ely, NV

    Property size:
    8,317 SF
    Price / SF:
    $168/SF
    Added:
    Feb 18, 2025
    Days on Market:
    451
    Last Refresh:
    May 15 at 1:06 am

    Property Features for 930 Aultman Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    10
    Rooms
    Bathroom 3, Bathroom 4, Bathroom 5, Bathroom 10, Bathroom 6, Bathroom 8, Bathroom 2, Bathroom 1, Bathroom 9, Bathroom 7
    Window features
    Blinds
    Patio and Porch features
    Patio
    Interior features
    HandicapAccess, WindowTreatments
    Exterior features
    CoveredPatio, Landscaping
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    001-199-05
    Size
    8,317 SF

    Taxes and HOA fees

    Tax Annual Amount
    4837

    Utilities

    Heating system
    Space Heater, Electric (Heating), Baseboard
    Cooling system
    Central Air, Wall Unit(s)

    Building Details

    Year built
    1950
    Floors in Building
    2
    Flooring type
    Carpet, Linoleum
    Building materials
    Block
    Roof type
    Asphalt, Aluminum

    We can help!

    Listing Contact
    Joe Brown

    Listing agent Joe Brown License #S.0195641

    Listing office Coldwell Banker Commercial Excel 700 Idaho Street, Elko, NV

    Listing date Feb 18, 2025

    MLS# 3625876 Listing URL

    Copyright © 2026 Elko County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey business and building ready for immediate revenue generation.
    • Prime location on main road (Aultman St/Hwy 50) with 200ft of road frontage.
    • 19 fully furnished and renovated guest rooms.
    • On‑site manager quarters with complete living accommodations.
    • Magnuson Hotel franchise opportunity for private owners.
    • Seller financing available for qualified applicants.

    Overview

    This commercial property, featuring the Magnuson Hotel, is located on Aultman Street/Hwy 50, the main thoroughfare through town, and offers 200 feet of road frontage. The Park Vue Hotel includes 19 fully furnished and renovated guest rooms. The office area has been renovated to create an inviting atmosphere for guests and includes a kitchenette suitable for serving breakfast or snacks. The property also features on-site manager quarters with complete living accommodations, including a living room, full kitchen, bedrooms, and restrooms. The roof has been replaced. The building has 8,317 square feet of space. This business and building is ready to immediately generate revenue. The property is located downtown, surrounded by murals and local history.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Magnuson Hotel Park ... Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ely
    County
    White Pine
    State
    Nevada
    Longitude
    -114.8884128
    Latitude
    39.2489996

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    FAQs

    What type of property is this?
    Hotel - Turnkey hotel with 19 rooms on main highway.
    Where is this hotel located?
    The property is located at 930 Aultman Street Ely, NV.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Turnkey business and building ready for immediate revenue generation.; **Prime location on main road (Aultman St/Hwy 50) with 200ft of road frontage.**; **19 fully furnished and renovated guest rooms.**
    (775) 777-5311
    We can help!
    Listing Contact
    Joe Brown
    Real Estate License ID: S.0195641
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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