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    361 Nebraska St Salem, SD 57058

    Sponsored
    For Sale
    $500,000

    15-Unit Motel, 3 Living Quarters, Great Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This established 15-unit motel in Salem, South Dakota presents a fantastic investment opportunity. Priced at $500,000, this family-operated business boasts multiple living quarters, ideal for owner-occupancy or management. The property includes three sets of living quarters: two two-bedroom, two-bathroom units, and a separate manager's quarters, providing ample space for comfortable living and on-site management. Each of the fifteen guest units is equipped with a microwave and refrigerator, catering to guest convenience. A guest laundry is also available on-site. The motel is strategically located on a main highway, benefiting from high visibility and convenient access for travelers. The area is known for its exceptional hunting opportunities, attracting a steady stream of outdoor enthusiasts. The property has undergone recent improvements, including a roof replacement completed three years ago, and several guest rooms have been updated. New photos are forthcoming. Seller financing may be available. This turnkey operation is ready for a new owner to step in and continue its success. The property is located at 361 S Nebraska St, Salem, SD 57058. This is a rare opportunity to acquire a well-maintained, profitable motel in a prime location.

    Property Features for 361 Nebraska St

    General Information

    Property type
    Motels

    HighLights

    • Established 15‑unit motel in Salem, SD, priced at $500,000.
    • Offers three living quarters: two 2‑bed/2‑bath units and a manager's unit.
    • All 15 guest units include microwaves and refrigerators; on‑site laundry available.
    • Main highway location provides high visibility and easy access.
    • Recent improvements include a new roof (3 years ago) and updated guest rooms.
    • Seller financing may be considered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motel Express Motel Home Motel Motel

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    McCook
    State
    South Dakota
    Longitude
    -97.388826410319
    Latitude
    43.720945665688

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    FAQs

    What type of property is this?
    Motel - 15-Unit Motel, 3 Living Quarters, Great Location
    Where is this motel located?
    The property is located at 361 Nebraska St Salem, SD.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Established 15-unit motel in Salem, SD, priced at $500,000.; Offers three living quarters: two 2-bed/2-bath units and a manager's unit.; All 15 guest units include microwaves and refrigerators; on-site laundry available.
    Request Owner's contact information
    361 Nebraska St Salem, SD 57058
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    Salem, SD 57058
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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
    361 Nebraska St Salem, SD 57058
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