304 Main StAlturas, CA 96101

Property Details for 304 Main St

Year built

1975

Construction

TILT-UP CONCRETE

Lot size

0.22 AC

Property size (Sq ft)

4,100 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

003-192-014-000

APU

3192014000

Description

This exceptional investment opportunity presents a historic three-story hotel in Alturas, California. Located at 304 S. Main St., this 26,000 square foot property sits on a 0.7-acre lot and boasts a rich history, dating back to 1908. Currently operating as a multi-faceted business, it includes a Starbucks coffee shop, a restaurant (Niles Roadhouse), a saloon (Niles Saloon), and an events venue (JE Niles Events Room and Catering). The hotel itself comprises 37 guest rooms across the second and third floors, including a bridal suite, a two-room suite with kitchenette, and rooms frequently used to house firefighters. The second floor features 13 nicely decorated guest rooms, each uniquely designed. The third floor offers 24 rooms (2 single and 22 double occupancy), along with shared bathrooms and a laundry area. The property also includes a functional kitchen used for catering events and daily restaurant operations. Heating is provided by a wood pellet boiler, wood stoves, and electric heaters in guest rooms. All equipment is included in the sale, and the liquor license is transferable. This corporation-owned property offers significant potential for growth and expansion within a supportive community. The asking price is $1,200,000, with a price per square foot of $46.15. Don't miss this chance to own a piece of Alturas history.

• CAP approach

  CAP return

  Valuation

  6%

  $815,781

  6.5%

  $753,029

  7%

  $699,241

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,455,232

  Geo Method

  $1,455,232

• Alternative Use

  Use

  Valuation

  Residential

  $753,029

  Hospitality

  $689,770

  Educational

  $573,881

  Medical

  $593,617

  Retail

  $892,703

Location Insight

City

Alturas

County

Modoc

State

California

Latitude

41.4865

Longitude

-120.542

Property Tax & Assessments

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