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1301 Russell St Sioux Falls, SD 57104

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For Sale
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Profitable Hotel, Prime Location, High Cap Rate

Property size:
123,702 SF

Property Features for 1301 Russell St

General Information

Property type
Hotels
Square Feet
123,702 SF
Lot Size
306,227 SF

Building Details

Year Built
1962
Stories
2

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Listing Contact
Dale Zomer

Listing Agent: Dale Zomer

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a 150-room Ramada by Wyndham hotel in Sioux Falls, South Dakota. Strategically located at the corner of Russell Street and West Avenue, east of the Denny Sanford PREMIER Center and south of the Sioux Falls Airport, this property boasts a prime location with high visibility and accessibility. The hotel, built in 1962 with renovations in 1995, features a total of 123,702 square feet situated on a 7.03-acre lot. The asking price is $16,500,000, representing a compelling price per square foot of $133.39 and a strong 12% capitalization rate. The property's year-to-date average daily rate (ADR) stands at $142.23, with a revenue per available room (RevPAR) of $84.10, and a current occupancy rate of 59.1%. Real estate taxes are $172,061 annually. The included amenities extend beyond the standard hotel offerings, encompassing a restaurant, waterpark, casino, and arcade, contributing to the overall value and revenue streams. The property operates under a Ramada Worldwide Inc. franchise agreement, expiring July 10, 2034, and the ground lease expires July 9, 2034. This turnkey operation offers a significant return on investment for a discerning buyer seeking a well-established hospitality asset in a thriving market. The price includes the restaurant, waterpark, casino, and arcade, resulting in a price per room of $110,000. The hotel is a two-story building.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Boston's Pizza Sioux ... Restaurant Ramada by Wyndham ... Hotel & Motel Boss' Pizzeria and Sports ... Take-out & Catering ATM Atm

Suggested Use

Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

Location Insight

  • Map
  • Local Demand
City
Sioux Falls
County
Minnehaha
State
South Dakota
Longitude
-96.74642831
Latitude
43.56271213

FAQs

What type of property is this?
Hotel - Profitable Hotel, Prime Location, High Cap Rate
Where is this hotel located?
The property is located at 1301 Russell St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $16,500,000.
What are key features of this property?
This property features: Cap Rate: 12%; Price per Room: $110,000 (includes restaurant, waterpark, casino, arcade); Revenue Per Available Room (RevPAR): $84.10 YTD
(605) 444-7117 Call to check price and availability
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