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Hotel-Motel

Warden Inn Deer Lodge

809 Main St, Deer Lodge, MT 59722

Listing Price: $2,200,000

Cap Rate
8.61%
Number of Rooms
43
RevPAR
$40
Price/Room
$51,163
RRM
3.54
Year Built
1952

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Warden Inn in Deer Lodge (‘Hotel’ or ‘Property’). The Independent-branded Hotel is offered at $2,200,000 or $51,163 per key. The Warden Inn is located at 809 Main St in Deer Lodge, Montana, just off Interstate 90 Frontage Road near Interstate 90. The 43-room, exterior-corridor, two-story building was built in 1952 and encompasses 0.81 acres. With approximately 15,000 square-feet between two floors, the Property maintains plenty of room amenities including a Smart TV, coffeemaker, mini-refrigerator, and microwave. As the Hotel continues to complete renovations while the Property transitions from a Budget Inn to a Warden Inn, the way the updated rooms were previously utilized have flexibility. Deer Lodge, the county seat of Powell County, is best known as the home of the Montana State Prison. However, despite the prison being one of the locality’s major employers, the city thrives from a more forgiving tax structure and diverse economy. The top economic sectors residents of Deer Lodge are employed in include public administration, health care, social assistance, food service accommodations, and retail trade. A cornerstone of the Deer Lodge tourist economy, the region has the capacity for a wide variety of attractions such as fishing, cycling, hiking, birdwatching, and museum touring. The most popular museums and historical sites in the area include the Old Montana Prison & Auto Museum, Montana Auto Museum, Yesterday’s Playthings Toy Museum, Grant-Kohrs Historic Site, and the Frontier Montana Museum. With Deer Lodge City County Airport just 2.2 miles away from the Property, visitors can quickly settle in and begin to indulge in the diverse array of attractions the area offers. The Montana hotel market has seen major growth in RevPAR, recording a 77 percent climb in twelve-month March 2022 RevPAR year-over-year. This is largely due to the increased national park visitation which spiked in mid-late 2021. Statewide lodging facilities have far surpassed both 2020 and 2019 sales during the second quarter of 2021, recording a 204 percent and 32 percent increase from 2020 and 2019, respectively, according to the Institute for Tourism and Recreation Research. Montana tourism data trends suggest a continued growth in state visitation through 2022 and rooms sold were up a considerable 13.6 percent increase in March 2022 compared to prior year. This investment offers a broad range of value enhancement initiatives for a new owner, including the opportunity to renovate and increase penetration levels, as well as implementation of fresh operational strategies. Additionally, the Property includes a three-bedroom management apartment making this asset ideal for an experienced owner-operator.

Investment Highlights

  • Two-Story, 43-Room, Exterior-Corridor Hotel with Three-Bedroom Management Apartment
  • Ideal Investment for Experienced Owner-Operator to Enhance Overall Value through Renovations and Operational Strategies
  • Highly Visible and Easily Accessible from Interstate 90 Frontage Road (Main Street)
  • Surrounded by Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities
  • Less than 2.5 Miles from Deer Lodge City-County Airport and Deer Lodge Medical Center

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (801) 736-2600

    License(s) MT: RRE-BRO-LIC-15748

    Montana

Financing By

Hotel-Motel

Warden Inn Deer Lodge

Listing Price: $2,200,000

Cap Rate
8.61%
Number of Rooms
43
RevPAR
$40
Price/Room
$51,163
RRM
3.54
Year Built
1952

Investment Highlights

  • Two-Story, 43-Room, Exterior-Corridor Hotel with Three-Bedroom Management Apartment
  • Ideal Investment for Experienced Owner-Operator to Enhance Overall Value through Renovations and Operational Strategies
  • Highly Visible and Easily Accessible from Interstate 90 Frontage Road (Main Street)
  • Surrounded by Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities
  • Less than 2.5 Miles from Deer Lodge City-County Airport and Deer Lodge Medical Center

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Warden Inn in Deer Lodge (‘Hotel’ or ‘Property’). The Independent-branded Hotel is offered at $2,200,000 or $51,163 per key. The Warden Inn is located at 809 Main St in Deer Lodge, Montana, just off Interstate 90 Frontage Road near Interstate 90. The 43-room, exterior-corridor, two-story building was built in 1952 and encompasses 0.81 acres. With approximately 15,000 square-feet between two floors, the Property maintains plenty of room amenities including a Smart TV, coffeemaker, mini-refrigerator, and microwave. As the Hotel continues to complete renovations while the Property transitions from a Budget Inn to a Warden Inn, the way the updated rooms were previously utilized have flexibility. Deer Lodge, the county seat of Powell County, is best known as the home of the Montana State Prison. However, despite the prison being one of the locality’s major employers, the city thrives from a more forgiving tax structure and diverse economy. The top economic sectors residents of Deer Lodge are employed in include public administration, health care, social assistance, food service accommodations, and retail trade. A cornerstone of the Deer Lodge tourist economy, the region has the capacity for a wide variety of attractions such as fishing, cycling, hiking, birdwatching, and museum touring. The most popular museums and historical sites in the area include the Old Montana Prison & Auto Museum, Montana Auto Museum, Yesterday’s Playthings Toy Museum, Grant-Kohrs Historic Site, and the Frontier Montana Museum. With Deer Lodge City County Airport just 2.2 miles away from the Property, visitors can quickly settle in and begin to indulge in the diverse array of attractions the area offers. The Montana hotel market has seen major growth in RevPAR, recording a 77 percent climb in twelve-month March 2022 RevPAR year-over-year. This is largely due to the increased national park visitation which spiked in mid-late 2021. Statewide lodging facilities have far surpassed both 2020 and 2019 sales during the second quarter of 2021, recording a 204 percent and 32 percent increase from 2020 and 2019, respectively, according to the Institute for Tourism and Recreation Research. Montana tourism data trends suggest a continued growth in state visitation through 2022 and rooms sold were up a considerable 13.6 percent increase in March 2022 compared to prior year. This investment offers a broad range of value enhancement initiatives for a new owner, including the opportunity to renovate and increase penetration levels, as well as implementation of fresh operational strategies. Additionally, the Property includes a three-bedroom management apartment making this asset ideal for an experienced owner-operator.

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (801) 736-2600

    License(s): MT: RRE-BRO-LIC-15748

    Montana

Financing By

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