520 N Moapa Valley Blvd | Moapa Valley, NV 89040 · 2020. 9. 16. · 42504 6064 South Durango...

42504

6064 South Durango Drive, Las Vegas, NV 89113702.383.3383 | naivegas.com

520 N Moapa Valley Blvd | Moapa Valley, NV 89040Gregg McArthurLIC#[email protected]

NAI Vegas | naivegas.comOffered By: Gregg McArthur 2

Offering Memorandum

Non-Warranty

Neither the seller or NAI Vegas, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents, as to the financial performance of the property, or as to the condition of the Property, malfunctions or mechanical defects on the Property or to any improvements thereon, including but not limited to the material, workmanship or mechanical components of the structures, foundations, roof, heating, plumbing, electrical or sewage system, drainage or moisture conditions, air conditioning, or damage by the presence of pests, mold or other organisms, environmental condition, soils conditions, the zoning of the Property, the suitability of the Property for Interested parties intended use or purpose, or for any other use or purpose.

No Obligation

No legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; Interested Parties are to rely solely on its investigations and inspections of the Property in evaluating a possible purchase or lease of the real property. The seller expressly reserves the right, at its sole discretion, to reject any or all offers to purchase or lease the Property, and/or to terminate discussions with any entity at any time, with or without notice, which may arise as a result of review of this Memorandum.

Confidentiality

By receipt of this Memorandum, you agree that this Memorandum and its contents are confidential in nature, that you will hold and treat such in the strictest confidence and that you will not disclose this Memorandum, or any of its contents, to any other entity without the prior written authorization of the seller or NAI Vegas. If after reviewing this Memorandum, you have no further interest in purchasing or leasing the Property, please delete or return this Memorandum to NAI Vegas.

Terms and Conditions

This offering, including any related digital marketing, contains selected information pertaining to the Property and does not purport to be a representation of the state of the Property, to be all-inclusive, or to contain all or part of the information which interested parties may require to evaluate a purchase or lease of real property.

Financial Information

Any and all financial projections and information are provided for general reference purposes only and have been gathered from sources deemed reliable. Certain assumptions have been made relating to the general economy, market conditions, competition and other factors beyond the control of seller and NAI Vegas. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation.

Summary Documents

Additionally, all references to acreage, square feet, and other measurements are approximations. Any demographics, geographic information systems(GIS), maps, photography, zoning, site plan, survey, engineering, architectural drawings, and any other information are without assurance of their accuracy, time sensitivity, completeness, or status of approval. Documents presented may be preliminary, have no assurance of being “as built”, and may not reflect actual property boundaries or improvements. Additional information and an opportunity to inspect the Property can be made available to qualified parties. In this Memorandum, certain documents are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full documents referenced herein. Interested parties are expected to review and confirm all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.


04 Investment Overview05 Pricing Overview06 Property Summary10 Features & Amentities12 Photos16 Maps18 Pricing & Financials21 Demographics

Content

NAI Vegas | naivegas.comOffered By: Gregg McArthur 4NAI Vegas | naivegas.comOffered By: Gregg McArthur 4

Investment OverviewNAI Vegas Hospitality has been retained to exclusively represent the owner in the sale of this well-kept independent 43 room hotel. The North Shore Inn at Lake Mead is strategically located in the heart of Moapa Valley, a quaint desert community located 45 minutes north of Las Vegas. This highly rated property is perfectly situated to provide boaters, swimmers and fishermen easy access to the crystal clear waters of Lake Mead National Recreation Area. The Valley of Fire State Park, one of Nevada’s most popular outdoor recreation areas is located only 10 miles away. The Valley of Fire has been consistently ranked as one of the top 10 state parks in the United States. It offers photographers, hikers, off-road enthusiasts and tourists unsurpassed outdoor recreation in it’s 40,000 acres of bright red sandstone outcrops.

Property amenities include: covered entry with open lobby area, a well maintained swimming pool with jacuzzi, guest laundry facilities, business center, complimentary breakfast and complimentary WiFi internet access. This property offers the following room amenities: Flat Screen TV, clock radio, table and chair, direct dial phone, coffee maker, microwave, refrigerator, and connecting rooms.

The property had room revenues in 2019 of $797,533 and is priced under replacement cost at $65,116.27 per key. The property has been continually well maintained and has undergone regular remodels and maintenance. This is a great opportunity for a buyer to take advantage of this properties unique position as the top rated hospitality property in the market and it’s prime location in the Moapa Valley area.

• 16.55% Cap Rate*

• $18,196.53 Per Key in Room Revenues

• $97.59 2019 ADR

• Top Rated Hospitality Property in the Market

• 43 Rooms

• Independent Property with No Franchise Fees

*Based on 2019 revenues, at asking price with 25% down, 4.5% interest rate, amortized over 25 years.


Pricing OverviewPrice $2,800,000

Down Payment 25.0% / 700,000

Total Rooms 43

Price/Room $65,116

Occupancy 52%

ADR $97.59

RevPAR $51.27

Number of Buildings 1

Number of Floors 2

Number of Meeting Rooms 1

Year Built/Renovated 1998

Lot Size 3.07

Typer of Ownership Fee Simple

VITAL DATA

Cap Rate - Current 16.55%

Net Operating Income - Current $463,355

Net Cash Flow After Debt Service - Current $323,285

PROPOSED FINANCING

Loan Amount $2,100,000

Loan Type SBA/Conventional

Interest Rate 4.50%

Amortization 25 Years

Payment $11,672.48

Loan to Value 75%

Debt Coverage Ratio 3.30


Property SummaryTHE OFFERING

Property North Shore Inn at Lake Mead

Property Address 520 North Moapa Valley Blvd.

Assessors Parcel Number 07012401005

SIRE DESCRIPTION

Year Built/Renovated 1998

Lot Size 3.07

Type of Ownership Fee Simple

Parking Ample

Handicap Parking Available

Truck Parking Available

Property Tier Budget

Location Type Rural

ROOM BREAKDOWN

Room Breakdown

Double Queen 19

Double Queen Delux 14

Double Queen Suite 1

Double Queen Accessable 1

King 4

Kind Delux 2

King Suite 1

King Accessable 1

Managers Unit 1 Unit

Total Number of Guest Rooms 43


Property SummaryMEETING ROOMS

Meeting Room Yes

UTILITIES

Water Moapa Valley Water

Phone Moapa Valley Telephone

Electric Overton Power District

Gas Ferrellgas

CONSTRUCTION/MECHANICAL

Foundation Concrete

Framing Wood

Exterior Stucco/Brick

Parking Surface Asphalt

Roof Tile/Pitched

Plumbing PVC

Elevator NA

HVAC Individual PTAC

Fire/Life/Safety Sprinklers throughout

Managers Unit 1 Unit

Total Number of Guest Rooms 43


Property SummaryINTERIOR ROOM DETAIL

Heating System Electric

Condition of Heating System Good

Cooling System Electric

Condition of Cooling System Good

Type of Bath/Shower Shower Tub Combo

Condition of Bath Shower Good

Bathroom Flooring Type Tile

Condition of Bathroom Flooring Good

Dressing Area Ample

Condition of Dressing Area Good

Type of Furniture Solid Wood

Condition of Furniture Like new

Window Coverings Drapes

Condition of Window Coverings Good

Room Floor Coverings Carpet

Condition of Floor Coverings Good

Wall Coverings Textured/Painted

Condition of Wall Coverings Good

Televisions 39"

Condition of Televisions Good

Microwave/Refrigerator In Each Room

Condition of Microvae/Refrigerator Good

Phone System Direct Dial

Voice Mail Phone with Voicemail

Internet Access Wireless Internet


Property SummaryFRANCHISE

Franchise Parent Company Independent

Franchise Affiliation Independent

Franchise Royalty Fee None

Franchise Marketing Fee None

Transfer Fee (Paid by Buyer) None

TRANSPORTATION

Highway I-15

Airports Las Vegas McCarran International Airport

RECENT RENOVATIONS

Beds On Rotation

Pool Filter Equipment 2020

Pool Pump Equipment 2020

OR TEXT 20258 TO 39200CLICK HERE

FOR MORE INFORMATION

RECENT RENOVATIONS

Beds On Rotation

Pool Filter Equipment 2020

Pool Pump Equipment 2020

https://helloarti.com/view/42504


Common AreaFeatures• Covered Entry with Open Lobby Area

• Well Maintained Pool W/ Jacuzzi

• Meeting Room

• Business Center

• Complimentary Breakfast

• Complimentary WiFi

• Guest Laundry Facilities

• Ice and Vending Machines


Room Amenities• Flat Screen TV with Cable

• Mini Refrigerator

• Microwave Oven

• Coffee Makes

• Connecting Rooms

• Clock Radio

• Hard Wood Furniture

• Direct Dial Phone


PROPERTY EXTERIOR


COMMON AREA


GUEST ROOMS


Area Map

SITE

N MOAPA VALLEY BLVD

LOU ST

CALSREPAIR CENTER

MACK LYONMIDDLE SCHOOL


Area Map

SITE

N MOAPA VALLEY BLVD


ADR SummaryOCCUPANCY 2018 2019 2020

Jan 34% 44% 32%

Feb 46% 63% 61%

Mar 59% 77% 40%

Apr 54% 80% 7%

May 54% 67% 29%

Jun 25% 34% 25%

Jul 30% 35%

Aug 24% 30%

Sep 36% 43%

Oct 53% 59%

Nov 50% 61%

Dec 27% 34%

Avg 41% 52% 32%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Occupancy

$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00


ADRADR 2018 2019 2020

Jan $90.02 $90.33 $96.21

Feb 95.32 95.15 103.24

Mar 95.55 98.43 94.72

Apr 96.06 97.14 85.69

May 96.75 101.81 94.99

Jun 93.02 96.54 94.26

Jul 90.31 94.56

Aug 96.12 97.71

Sep 95.31 96.58

Oct 95.36 101.82

Nov 97.20 104.52

Dec 91.41 96.43

Avg $94.37 $97.59 $94.85


$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000


Room Revenue

$-

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

$80.00

$90.00


RevPAR

REVPAR SummaryREVPAR 2018 2019 2020

Jan $30.86 $39.37 $30.46

Feb 43.70 59.67 63.03

Mar 55.98 76.06 37.59

Apr 52.05 77.86 5.85

May 48.70 68.12 27.15

Jun 23.07 33.15 23.46

Jul 26.76 33.55

Aug 23.00 28.88

Sep 34.06 41.85

Oct 50.72 60.34

Nov 48.37 64.01

Dec 24.69 32.41

Avg $38.50 $51.27 $31.26

ROOM REVENUE 2018 2019 2020

Jan 31 $41,136 $52,480 $40,603

Feb 28 $52,615 $71,843 $75,888

Mar 31 $74,621 $101,388 $50,107

Apr 30 $67,145 $100,439 $7,547

May 31 $64,917 $90,804 $36,191

Jun 30 $29,760 $42,764 $30,263

Jul 31 $35,671 $44,722

Aug 31 $30,659 $38,497

Sep 30 $43,937 $53,987

Oct 31 $67,610 $80,433

Nov 30 $62,397 $82,573

Dec 31 $32,912 $43,203

Total $603,381 $803,132 $240,600


2019 Actual Profit & Loss StatementDEPT. DESCRIPTION ACTUAL 2018 % OF REV ADJUSTMENT ADJ. AMOUNT % OF GR COMMENTS

Income

Room Revenue $890,624 - - $890,624 -

Utah State Hotel Tax $94,006 - - $94,006 -

Other Income $916 - - $916 -

Gross Revenue $797,533 100% - $797,533 100%

Expenses

Advertising $4,225 0.53% - $4,225 0.53%

Automobile $2,442 0.31% $(2,442) - 0.00% Personal Use

Bank Charges/CC proc $25,749 3.23% - $25,749 3.23%

Dues and Publication $33,463 4.20% - $33,463 4.20%

Equipment Rental $8,225 1.03% - $8,225 1.03%

Entertainment $1,148 0.14% - $1,148 0.14%

Insurance $21,689 2.72% - $21,689 2.72%

Legal and Accounting $4,111 0.52% - $4,111 0.52%

Misc $2,475 0.31% - $2,475 0.31%

Office Supplies $5,070 0.64% - $5,070 0.64%

Rent $240,000 30.09% $(240,000) - 0.00% Mortgage

Repair & Maint $33,755 4.23% - $33,755 4.23%

Supplies $45,437 5.70% - $45,437 5.70%

Travel $935 0.12% - $935 0.12%

Taxes & Licenses 0.00% - - 0.00%

Payroll Tax $6,081 0.76% - $6,081 0.76%

Telephone/Internet $6,869 0.86% - $6,869 0.86%

Utilities $60,007 7.52% - $60,007 7.52%

Wages $74,942 9.40% - $74,942 9.40%

Total Expenses $576,621 72% $(242,442) $334,178 41.90%

Net Operating Income $220,913 28% - $463,355 58.10%


Demographics

STREET CPD

N Moapa Valley Blvd / Liston Ave 4,550

S Moapa Valley Blvd / Scamp St 1,050

S Moapa Valley Blvd / E Virginia 5,200

Traffic Counts

POPULATION 1-mile 3-mile 5-mile

2019 Population 2,312 4,646 7,337

HOUSEHOLDS 1-mile 3-mile 5-mile

2019 Households 881 1,745 2,539

INCOME 1-mile 3-mile 5-mile

2019 Average HH Income $65,526 $71,172 $77,950

https://excelcres.com/market-research

CLICK HEREVIEW MARKET STATISTICSFOR OFFICE, RETAIL,INDUSTRIAL & MULTIFAMILY

Distance to Major Cities Market ResearchOur offices publish commercial and residential market research across Utah and Nevada. NAI Excel and NAI Vegas are known for their deep and rich data. Lending institutions, appraisers, and business consultants look to our market reports as the authority on commercial real estate market trends. We have built and maintained a comprehensive database comprised of data collected from some of the largest appraisal firms in the region, NAI transaction, and other data. NAI publishes statistics for the office, retail, industrial, and multifamily markets. Additionally, single family housing reports are published for every major market from Las Vegas to Salt Lake City, through our affiliate.

6064 South Durango Drive, Las Vegas, NV 89113702.383.3383 | naivegas.com

Salt Lake City, Utah 420 miles

Reno, Nevada 438 miles

Los Angeles, California 270 miles

San Diego, California 332 miles

Denver, Colorado 748 miles

Phoenix, Arizona 305 miles

Gregg McArthurLIC#[email protected]

520 N Moapa Valley Blvd | Moapa Valley, NV 89040 · 2020. 9. 16. · 42504 6064 South Durango...

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Transcript of 520 N Moapa Valley Blvd | Moapa Valley, NV 89040 · 2020. 9. 16. · 42504 6064 South Durango...