ICB IDAHO COMMERCIAL BROKERAGE HOTEL INVESTMENT OPPORTUNITY THE ASHLEY INN 500 NORTH MAIN STREET CASCADE, IDAHO FOR ADDITIONAL INFORMATION, PLEASE CONTACT: David McDonald, CCIM Moe Therrien Broker Associate Broker (208) 720-2000 (208) 859-7935 [email protected][email protected]
7
Embed
ICB IDAHO COMMERCIAL BROKERAGE - LoopNet · The charming mountain town of Cascade offers access to snow skiing, snowmobiling, hunting, fishing, hiking, golf and ... David specializes
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGETHE ASHLEY INN
500 NORTH MAIN STREET - CASCADE
2
INVESTMENT SUMMARY
OFFERING PRICE $ 4,800,000NUMBER OF ROOMS 67PRICE PER ROOM $ 71,642YEAR BUILT 2003
Guests of the Ashley Inn Hotel are treated to an incomparable experience in Valley County, Idaho. From the first step into the inviting lobby and parlor area, to the comfortable and unique rooms, the hotel regards their patrons as family rather than visitors. Accommodations include sixty-seven spacious rooms, conference rooms, indoor pools and a fitness center. Conveniently located on Idaho Highway 55, Cascade Idaho is situated on the southeast shore of beautiful Lake Cascade. Approximately 70 miles north of Boise at an elevation of 4,760 feet, Cascade is surrounded by picturesque mountains and meadows. The charming mountain town of Cascade offers access to snow skiing, snowmobiling, hunting, fishing, hiking, golf and boating.Additional photographs and information about the hotel can be found at theashleyinn.com.
THE ASHLEY INN500 NORTH MAIN STREET / CASCADE, IDAHO 83611
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGETHE ASHLEY INN
500 NORTH MAIN STREET - CASCADE
3
OFFER SOLICITATION PROCESS
PROPERTY VISITATIONProperty tours will be arranged for prospective, pre-qualified purchasers.A representative sampling of guest rooms, as well as access to all common area amenities and maintenance facilities will be made available. Property tours require advance scheduling.
CONFIDENTIALITY AGREEMENTInterested parties must complete and return a confidentiality agreement to receive detailed financial and investment information. The agreement may be downloaded at: Ashley Inn Confidentiality Agreement OFFER SUBMISSIONOffers should be presented in the form of a non-binding Letter of Intent, specifying the significant terms and conditions of Buyer’s offer including, but not limited to:• Pricing• Due Diligence and closing time frame• Earnest Money Deposit• Debt/Equity structure details• Qualifications to close
Offers should be delivered to the attention of David McDonald. CONTACT INFORMATIONDavid McDonald, Broker Moe Therrien, Associate BrokerO: 208.343.9300 O: 208.343.9300C: 208.720.2000 C: 208.859.7935E: [email protected] E: [email protected]
Idaho Commercial Brokerage, LLC 121 North 9th Street, Suite 402Boise, Idaho 83702
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGETHE ASHLEY INN
500 NORTH MAIN STREET - CASCADEOFFERING SUMMARY
4
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.
INVESTMENT HIGHLIGHTSOFFERING PRICE $ 4,800,000NUMBER OF GUEST ROOMS 67PRICE/ROOM $ 71,642PEAK SEASON DAILY RATES $ 120 - 320SHOULDER SEASON DAILY RATE $ 90 - 2002016 YE OCCUPANCY 39%PRO FORMA NET OPERATING INCOME $ 451,000PRO FORMA CAPITALIZATION RATE 9.4%
INVESTOR PRO FORMAPRICE $ 4,800,00075% OF LOAN $ 3,600,000LOAN TERMS 5%, 25 YR AMORTIZATIONANNUAL LOAN PAYMENTS $ 252,500PRO FORMA NOI $ 451,000 ANNUAL CASH FLOW $ 198,500ANNUAL EQUITY YIELD 16.5% ANNUAL EQUITY YIELD W/LOAN AMORTIZATION 22.7%
PURCHASE TERMS Cash to Seller.
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGETHE ASHLEY INN
500 NORTH MAIN STREET - CASCADEPROPERTY HIGHLIGHTS
5
• APPROXIMATELY 2.5 ACRE SITE
• YEAR BUILT: 2003
• 67 GUEST ROOMS
• 45 ROOMS, 1 KING BED
• 22 ROOMS, 2 QUEEN BEDS
• CONFERENCE FACILITIES
• FULL KITCHEN
• INDOOR POOL, EXERCISE ROOM, HOT TUB
• LARGE GUEST ROOMS WITH CLASSIC INTERIORS
• ACCESS TO WALKING AND BIKING TRAILS
• LUSH LANDSCAPING WITH ADJACENT KERBY GARDENS WATERFALL AND GAZEBO
REAL ESTATE PRACTICESHard work, perseverance and integrity have made David McDonald a leader in the commercial investment field. David specializes in consulting and brokerage of investment properties including apartments, industrial, office and retail. WORK HISTORYIn a career spanning more than 20 years of real state experience in Idaho, David has established himself as a powerful force in the real estate community having successfully completed over 600 transactions. He is continually ranked
among the top 1% of agents in Idaho for total sales production and was ranked number one in sales at his previous brokerage firm, Thornton Oliver Keller Commercial.
In November 2002, David founded Idaho Commercial Brokerage with the simple mission of providing superior representation and investment advising services to his clients. With uncompromising integrity, concise market knowledge and extensive experience, David continues to be a leader in his field. Between 2006 and 2010, David developed over 50 million dollars of residential vacation property in the Sun Valley area. Growing with the changing demands of the market, David has built strong business relationships within the banking community. He has created one of the most comprehensive approaches to developing business and creative loan solutions in the currently ever-changing financial markets. PROFESSIONAL ACCREDITATION• CCIM designation• Vice President of the Boise Chapter of the Commercial Investment Real Estate
Institute from 2001-2003• Member of the National Association of Realtors and the Commercial Investment Real