Vernal Best Value Inn

$2,950,000

260 West Main Street, Vernal UT 84078

AVAILABILITY:

Active

LOT SIZE:

1.76 acres

PROPERTY TYPE:

Hotel

year built:

1953

TRANSACTION TYPE:

BUILDING SIZE:

17,531

APN/PARCEL ID:

BUILDING CLASS:

# of units

BROKERAGE OF RECORD:

PROPERTY HIGHLIGHTS

Vernal Best Value Inn presents an attractive investment opportunity with seller financing options available. The financing terms include a 25% down payment, a competitive interest rate of 7%, a 20-year amortization period, and a balloon payment due in 5 years. These flexible terms can provide potential investors with favorable financing options. Moreover, the property is currently undergoing renovations to enhance its appeal and value. Scheduled for completion in July, the exterior painting project is set to commence on June 15th. These renovations signify a commitment to improving the property and ensuring its attractiveness to guests or potential tenants. With its strategic location and ongoing improvements, Vernal Best Value Inn is poised to capitalize on the growing demand for overnight accommodations in Vernal, Utah. Additionally, the property holds potential for re-development as a mixed-use development or conversion into multifamily residences, such as apartments, condos, or Airbnb units. Investing in Vernal Best Value Inn offers an opportunity to enter a thriving market, leverage seller financing options, and participate in the revitalization of a well-positioned property.