65 N State ST Open House Save Request In-Person Tour Request Virtual Tour
Hurricane,UT 84737
OPEN HOUSE
Fri Nov 15, 11:00am - 2:00pm
Key Details
Property Type Commercial
Sub Type Business + Real Estate
Listing Status Active
Purchase Type For Sale
Square Footage 4,327 sqft
Price per Sqft $36
MLS Listing ID 24-255816
Originating Board Washington County Board of REALTORS®
Year Built 1923
Annual Tax Amount $3,876
Lot Size 0.300 Acres
Acres 0.3
Property Description
We are a small holding company of real property in the nightly rental business with properties in Hurricane UT, zoned highway commercial. This is not a timeshare or fractional ownership deal. This is an ownership opportunity in an established business that is expanding and building cash flow for our owners. Due to the nature of the property being an operational nightly rental business, we will do showings in person. Call listing agent(s) to arrange showings and/or inquire more.
We are selling up to 48% of our LLC holding company that owns 2 parcels and a 50% ownership in a third. Property 1 has 4 built and operating nightly rentals. Property 2 is adjacent raw land ready for development with all utilities ready and plans approved by the city zoned Highway Commercial. Parcel 3 (the one we control 50% of) has 3 built and operating nightly rentals.
We are raising capital to (1) develop parcel 2 to have 6 additional nightly rentals with private hot tubs, and community pavilion, as well as an 'Open to the Public' pet wash facility to produce revenue. The plan, when completed, the LLC will hold interest in about 3 million in real estate and minimal (under 5%) debt (excluding partnership obligations on parcel 3)
There is already a management team and system in place operating the nightly rentals and that will not change. We are only selling interest in the LLC that holds the real property.
This opportunity allows a person to buy ownership in the nightly rental industry for as little as $170k (5%) or more in 1% increments. You can have ownership in not one but 13 vacation rentals just outside Zion National Park and near St George UT. We anticipate about a 3% ROI net as all taxes, utilities and operating expenses will be covered by normal operations. We anticipate the development phase for the final parcel will be between 4-6 months. Distributions to start in the second quarter after the city issues certificate of occupancy.
See the properties:
Passport Resort: https://www.theepicstay.com/passport-village-rentals/?sort_by=random
Area 51: https://www.theepicstay.com/area-51-rentals/?sort_by=random
Location
State UT
County Washington
Area Hurricane Valley
Zoning Commercial
Direction Located next to Maverik on State Street in Hurricane.
Exterior
View Y/N No
Building
Story 1