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    1301 Russell St Sioux Falls, SD 57104

    For Sale
    $16,500,000

    Profitable Hotel, Prime Location, High Cap Rate

    Property size:
    123,702 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    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 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

    HighLights

    • Cap Rate: 12%
    • Price per Room: $110,000 (includes restaurant, waterpark, casino, arcade)
    • Revenue Per Available Room (RevPAR): $84.10 YTD
    • Average Daily Rate (ADR): $142.23 YTD
    • Price per Square Foot: $133.39
    • Real Estate Taxes: $172,061 annually
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Boston's Pizza Sioux ... Restaurant Ramada by Wyndham ... Hotel Boss' Pizzeria and Sports ... Caterer ATM Atm

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    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

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    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
    Request Owner's contact information
    1301 Russell St Sioux Falls, SD 57104
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1301 Russell St Sioux Falls, SD 57104
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