1301 Aultman St Ely, NV 89301-1646
- Hotels
- 1,862 SF
- 0.53 lot acres
Jul 31, 2020
Current Use by Public Records
- White Pine Motel / Motel
- Chevron / Gas Station / Auto Repair Shop
- Food Mart / Gas Station / Convenience Store
- ATM / Atm
Property Details for 1301 Aultman St
- Year built
- 1943
- Lot size
- 0.53 lot acres
- Property size
- 1,862 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 001-218-03
- APU
- 121803
Description
This exceptional 29-unit motel in downtown Ely, Nevada, presents a lucrative investment opportunity. Boasting a remarkable 19.77% cap rate based on 10 months of 2024 data ($309,319 gross income, $67,300 operating expenses), this two-story, 8,316 square foot property offers significant return potential. Built in 1974 and renovated in 2017, the motel features 29 keys, each equipped with a flat-screen TV, microwave, refrigerator, air conditioning, and electric heaters. Guest amenities include free Wi-Fi, HBO, coffee, tea, and ample parking (2.77 spaces per 1,000 sq ft). The property also includes a manager's one-bedroom apartment attached to the office. Its convenient downtown location places it near casinos and restaurants, enhancing its appeal to travelers. Additional features include balconies, a business center, high-speed internet access, and on-site security staff. The 0.53-acre lot provides ample space. The asking price is $1,320,000 ($158.73/sq ft, $45,517.24/key). This property is classified as a Class C, owner/user investment. Note that additional properties, including a residential home and a mobile home park, are also available for sale separately.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ely
- County
- White Pine
- State
- Nevada
- Longitude
- -114.885
- Latitude
- 39.249
