Rehab or Convert Central Plaza Hotel in downtown Cheyenne WY
Listing was updated at: 04/24/2019
Property Overview
Price/Rent PSF $ 2,250,000.00
Asset Type Hospitality
Trade Type Sale
SQ. FT. Available 36,338
Date Available 04/18/2019
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Floors 5
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Description

Location
Corner of Central Avenue and E 18th Street. Downtown Cheyenne

Sale
Re-development/Conversion opportunity. Existing 88 room hotel in state capital city Cheyenne WY. Currently underutilized and under marketed as an extended stay hotel. Convert to other use, such as apartment, assisted living, self storage, office, etc., or operate as hotel. Historic district tax credits may be available. Close to state offices and capitol building. Downtown Cheyenne location, convenient to I-80, and state highways 85 & 30. Prime commercial corridor location. Being operated as an extended stay / month to month lodging facility, with a restaurant space leased on main floor. Income could be sustained during planning process to re-purpose the property. Approximately 25 rooms currently rented at any one time (limited by Owner's choice). Restaurant operating successfully and has one year remaining on lease with a desire to extend. No national affiliation - independently operated hotel. Redevelopment potential, or conversion to flagged hotel or other use. ~ 3600 SF Pool building is not operational and could be razed for additional parking or other use. Adjacent parking structure is not part of this offering (though it may be available for purchase).

Location