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Hotel-Motel

Wrangler Inn

820 W Grand Crossing, Mobridge, SD 57601

Listing Price: $2,295,000

Cap Rate
11.20%
Number of Rooms
60
RevPAR
$46
Gross SF
24,375
Price/Room
$38,250
RRM
2.30
Price/Gross SF
$94.15
Year Built
1963

Investment Overview

Marcus & Millichap is proud to have been chosen as Exclusive Broker and Advisor in regard to the marketing effort of the Wrangler Inn. This acquisition provides the opportunity to acquire an independent full service hotel in Mobridge, SD. The hotel is a two-story structure and features 60 guestrooms, meeting space, banquet hall, and a fully operational restaurant and bar. Current ownership has maintained a high standard for maintenance and stabilized operations that is evident in the property’s condition. The property has consistently generated room revenue around $1,000,000; it is expected that a new owner will maintain this consistent level of room revenue or possibly enhance it through the implementation of a franchise agreement with desired hotel brand. A new owner will be the direct beneficiary of all the recent capital expenditures and assume an already stabilized asset with upside potential. The hotel itself is situated on a large parcel directly overlooking the Missouri River. It features all amenities that every type of today’s traveler seeks including indoor pool and whirlpool, complimentary parking, meeting room and banquet space, ample outdoor space with an elevated deck, and a full restaurant and bar. The food and beverage outlet is popular with the local community because of its location and views of the river. There is also an ideal room mix inclusive of spacious rooms, larger than the industry standard. Mobridge is located in the heart of South Dakota along the Missouri River. The property is located directly off the highly traveled Highway 12, which spans across the state of South Dakota. Given its location directly on the river, Mobridge has strong leisure and travel demand evident by its high ADR and profitable restaurant business. The city also has a municipal airport which contributes to travel for one of the largest ice fishing tournaments in the nation, which is hosted annually in Mobridge.

Investment Highlights

  • Rare opportunity to own a sprawling hotel that serves as a staple in the community and over looks the Missouri River.
  • Historical revenue is consistently above 1.3m with incredible upside for an experienced hotelier to increase profit margins in an already stabilized property.
  • The Wind Jammer - sports bar included with the hotel, serves as a main attraction for locals and tourists. Consistently profitable business with video lottery machines that serves as additional income
  • Mobridge attracts tourism year round. Home to one of the largest ice fishing tournaments in the nation for nearly 20 years, Pheasant hunting in the Fall, and Regional and National fishing tournaments in the Summer.
  • Amenities include: Restaurant, Indoor Pool, Hot Tub, Meeting Space, Banquet Space, Large Elevated Outdoor Deck, and Very Spacious Rooms.

Exclusively Listed By

  • Joseph Ferguson

    Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Jared Plamann

    Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) SD: 17724

    South Dakota

Financing By

Hotel-Motel

Wrangler Inn

Listing Price: $2,295,000

Cap Rate
11.20%
Number of Rooms
60
RevPAR
$46
Gross SF
24,375
Price/Room
$38,250
RRM
2.30
Price/Gross SF
$94.15
Year Built
1963

Investment Highlights

  • Rare opportunity to own a sprawling hotel that serves as a staple in the community and over looks the Missouri River.
  • Historical revenue is consistently above 1.3m with incredible upside for an experienced hotelier to increase profit margins in an already stabilized property.
  • The Wind Jammer - sports bar included with the hotel, serves as a main attraction for locals and tourists. Consistently profitable business with video lottery machines that serves as additional income
  • Mobridge attracts tourism year round. Home to one of the largest ice fishing tournaments in the nation for nearly 20 years, Pheasant hunting in the Fall, and Regional and National fishing tournaments in the Summer.
  • Amenities include: Restaurant, Indoor Pool, Hot Tub, Meeting Space, Banquet Space, Large Elevated Outdoor Deck, and Very Spacious Rooms.

Investment Overview

Marcus & Millichap is proud to have been chosen as Exclusive Broker and Advisor in regard to the marketing effort of the Wrangler Inn. This acquisition provides the opportunity to acquire an independent full service hotel in Mobridge, SD. The hotel is a two-story structure and features 60 guestrooms, meeting space, banquet hall, and a fully operational restaurant and bar. Current ownership has maintained a high standard for maintenance and stabilized operations that is evident in the property’s condition. The property has consistently generated room revenue around $1,000,000; it is expected that a new owner will maintain this consistent level of room revenue or possibly enhance it through the implementation of a franchise agreement with desired hotel brand. A new owner will be the direct beneficiary of all the recent capital expenditures and assume an already stabilized asset with upside potential. The hotel itself is situated on a large parcel directly overlooking the Missouri River. It features all amenities that every type of today’s traveler seeks including indoor pool and whirlpool, complimentary parking, meeting room and banquet space, ample outdoor space with an elevated deck, and a full restaurant and bar. The food and beverage outlet is popular with the local community because of its location and views of the river. There is also an ideal room mix inclusive of spacious rooms, larger than the industry standard. Mobridge is located in the heart of South Dakota along the Missouri River. The property is located directly off the highly traveled Highway 12, which spans across the state of South Dakota. Given its location directly on the river, Mobridge has strong leisure and travel demand evident by its high ADR and profitable restaurant business. The city also has a municipal airport which contributes to travel for one of the largest ice fishing tournaments in the nation, which is hosted annually in Mobridge.

Exclusively Listed By

  • Joseph Ferguson

    Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Jared Plamann

    Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): SD: 17724

    South Dakota

Financing By

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