717 Bannerman Ave, Redgranite, WI 54970-9376
- Commercial real estate
- 2.01 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 717 Bannerman Ave
- Lot size
- 2.01 lot acres
- Property type
- Commercial real estate
- APN
- 176-01772-1311
- APU
- 176017721311
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 23, 2022 | $1,225,000 | Reva LLC | Rg Hotels INC | Special Warranty Deed | $920k · National Exchange Bank & Trust |
| Mar 22, 2022 | — | Rg Hotels INC | — | Deed · related | $60k · Bank Of Wisconsin Dells |
| Mar 3, 2017 | — | Rg Hotels INC | Kaleka Enterprises LLC | Warranty Deed | $536k · Bank Of Wisconsin Dells |
| Mar 28, 2008 | $700,000 | Kaleka Enterprises LLC | D & L Management LLC | Warranty Deed | — |
Description
This fee-simple, 40-key Quality Inn in Redgranite, WI, is offered at $2,000,000 ($50,000/key). Built in 2000 and renovated in 2022, this two-story hotel boasts an indoor pool, hot tub, meeting room, and breakfast area. Its prime location on Highway 21 offers high visibility and easy access. The property sits on two acres and enjoys a strong RevPAR penetration index of 114%, projected to continue for the next five years. This translates to a pro-forma NOI of $245,368 and a pro-forma cap rate of 12.27%. Redgranite offers a tranquil setting with nearby attractions including Redgranite Quarry, Willow Creek Park, and is within two hours of major Wisconsin cities. The hotel is unencumbered by management contracts or existing debt, presenting a compelling investment opportunity with significant upside potential due to its strong performance and location. The property's amenities and convenient location make it an ideal destination for travelers and a solid investment for hospitality-focused buyers. The strong community and surrounding natural beauty provide a unique draw for visitors, further enhancing the hotel's potential for continued success. This is a rare opportunity to acquire a well-maintained, high-performing hotel in a desirable location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,160,000
- ML approach
- $1,145,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Redgranite
- County
- Waushara
- State
- Wisconsin
- Longitude
- -89.0937
- Latitude
- 44.0384
