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Scipio UT Real Estate & Commercial for Sale

1 Properties Found

The median home value in Scipio, UT is $259,256. This is higher than the county median home value of $220,313. The national median home value is $308,980. The average price of homes sold in Scipio, UT is $259,256. Approximately 67% of Scipio homes are owned, compared to 13% rented, while 20% are vacant. Scipio real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you like to see a property, contact Scipio real estate agent to arrange a tour today!
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Business Opportunities
Lot size:
1.66 Acres
Year built:
Courtesy: KW South Valley Keller Williams, 801-676-5700
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KW Commercial is pleased to present the exclusive listing of the Scipio hotel in Scipio, Utah. This is an exceptional investment opportunity with Value Add Potential. The offering is a 32-key interior corridor hotel located right off of Interstate 15. The property is currently run as a non-franchised independent hotel operation and has a 13.11% CAP rate. The two-story building was built in 2001 and has an onsite manager's apartment. It's prime location, situated at the crossroads of major highways, makes it easily accessible to travelers from all corners of the country. It's also the gateway to Northern and Southern Utah with it being 1 hour 40 minutes to Salt Lake City and 2 hours 30 minutes to St. George. The hotel's ideal location, combined with the exclusivity as the only hotel in Scipio, means that weekends are constantly at capacity, especially during the summer months. Amazing Value Add Potential. The current owner is an absentee owner, which means hands on management or an owner/operator could be a great value add for this property. Rebranding this independent hotel as a branded franchise could also be a wonderful value add for this property. In addition, Property had a pool that is no longer in operation. The current owner had plans to replace the space with 4-5 suites to generate additional revenue but didn't get the chance. The owner has turned the managers apartment into an extended stay and is currently charging $2500 a month, with limited housing in town or the surrounding area this could be a great value-add opportunity for additional units. Vacant land behind the hotel allows for additional expansion or possible space for an RV park. With pricing at $2,000,000 this puts you at only $62,500/key and a price per square foot of only $108.61, which sits far below the replacement cost. Scipio hotel combines comfort, convenience, and a promising investment potential, making it an enticing choice for investors seeking a thriving hospitality venture. PLEASE DO NOT CONTACT THE OWNER OR ANY EMPLOYEES OR TOUR THE PROPERTY WITHOUT AN APPOINTMENT. All inquires must go though the listing broker. Reach out to the listing agent for the financial packet.

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Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 6/18/2024 12:00:00 AM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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