Clarion Inn & Convention Center by Choice Hotels

1902 North Lacrosse Street, Rapid City, SD, USA
Download Spec Sheet
  • Total Available Space: 111,876 sq. ft.
  • Building Size: 111,876 sq. ft.
  • Suite Size: 111,876 sq. ft.
  • Year Built: 1961/1967
  • Sale Price: $9,000,000

Property Features

  • 200 rooms
  • Building size: 111,876 sq. ft.
  • Lot size: 6.91 acres
  • Fully-leased restaurant to Boss’s Pizza
  • Year built: 1961/1967
  • Remodeled: 2016/2017/2020
  • 200 paved, on-site parking spaces

Pricing

  • Price: $9,000,000 ($45,000/key)
  • 2020 Real estate taxes: $101,000
  • Financials available upon request

Projections

  • 2021 projected ADR: $77.88
  • 2021 projected occupancy: 50%
  • 2021 projected revenue: $2,900,000
  • Hotel receives pro rata share from restaurant revenue:
    – 12% of food & beverage
    – 3% of delivery
    – Projected: $1,200,000
    – Liquor license included
  • Projected convention center revenue: $100,000

Location

  • Located in Rapid City, SD, just off I-90
  • Nearby attractions include: Grand Getaway, Best Western, Mount Rushmore, Terry Peak, Mickelson Trail, Sturgis

Property Broker