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    OFF-MARKET Estimated value $670,000
    Commercial real estate

    361 Nebraska St, Salem, SD 57058-8958

    5,417 SF 1.14 ac lot Built 1964
    Individually Owned Free & Clear
    Property ID
    US79-0723530
    Property summary
    AI-generated overview

    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 profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1964
    Total area 5,417 SF
    Lot 1.14 ac (49,658 SF)
    APN 17.58.0401
    UPID US79-0723530
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Motel Express Hotel & Motel
    • Home Motel Hotel & Motel
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $673k
    Blend (final) Blend
    $670k
    Owner & transaction history
    EXPRESS MOTEL & RESTAURANT,
    EXPRESS MOTEL & RESTAURANT,
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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