Log In/Sign Up
Your email has been sent.
Lakemill Lodge 200 Mill St 121 Room Hotel Reno, NV 89501 $17,447,124 CAD ($144,191 CAD/Room)
Investment Highlights
- Great Opportunity for the right Owner Operator/Investor. Major Proforma opportunities
Executive Summary
Investment Opportunity: 125-Key Dual-Building Hospitality Asset Reno, Nevada | High-Value Boutique Repositioning Strategy This rare offering presents a clear "mark-to-market" opportunity in the rapidly evolving Reno hospitality corridor. Situated directly in the high-demand gap between budget accommodations and luxury casino resorts, this asset is perfectly positioned for a design-forward boutique repositioning. Unique Independent Configuration
The property consists of two fully independent structures, allowing for maximum operational flexibility: Building A: 75 Keys Building B: 50 Keys Each building features its own dedicated entrance and elevator system. This rare setup enables a buyer to execute a phased renovation without a full operational shutdown, or even implement a dual-brand strategy. Diverse Revenue Streams & Value-Add Potential Active F&B: The site includes a ground-level bar that serves as an immediate revenue driver. Retail Upside: An on-site convenience store provides steady lease income with the potential to be repositioned for higher-rent curated retail. Operational Growth: Current performance is below the Reno comp set, offering significant upside in both Average Daily Rate (ADR) and occupancy through modernization. Prime Market Location
Located in an experience-driven corridor, the property benefits from direct proximity to a destination museum and the Renaissance boutique hotel. As Reno continues its transformation from a gaming-centric town to a lifestyle destination, there is an acute undersupply of modern, non-gaming inventory—a gap this asset is uniquely suited to fill. Financial Snapshot (Post-Renovation Illustrative Case) Estimated NOI: ~$2.7M Projected RevPAR: ~$140 Total Revenue Range: $7.5M – $8.5M Exit Valuation: $27M – $40M+ (at 8% Cap Rate) For more information, contact Anthony at 855-701-5243.
The property consists of two fully independent structures, allowing for maximum operational flexibility: Building A: 75 Keys Building B: 50 Keys Each building features its own dedicated entrance and elevator system. This rare setup enables a buyer to execute a phased renovation without a full operational shutdown, or even implement a dual-brand strategy. Diverse Revenue Streams & Value-Add Potential Active F&B: The site includes a ground-level bar that serves as an immediate revenue driver. Retail Upside: An on-site convenience store provides steady lease income with the potential to be repositioned for higher-rent curated retail. Operational Growth: Current performance is below the Reno comp set, offering significant upside in both Average Daily Rate (ADR) and occupancy through modernization. Prime Market Location
Located in an experience-driven corridor, the property benefits from direct proximity to a destination museum and the Renaissance boutique hotel. As Reno continues its transformation from a gaming-centric town to a lifestyle destination, there is an acute undersupply of modern, non-gaming inventory—a gap this asset is uniquely suited to fill. Financial Snapshot (Post-Renovation Illustrative Case) Estimated NOI: ~$2.7M Projected RevPAR: ~$140 Total Revenue Range: $7.5M – $8.5M Exit Valuation: $27M – $40M+ (at 8% Cap Rate) For more information, contact Anthony at 855-701-5243.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $17,447,124 CAD | Building Size | 55,783 SF |
| Price Per Room | $144,191 CAD | No. Rooms | 121 |
| Sale Type | Investment | No. Stories | 6 |
| Sale Condition | Business Value Included | Year Built | 1966 |
| Property Type | Hospitality | Parking Ratio | 1.02/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.53 AC | ||
| Zoning | MD-RD | ||
| Price | $17,447,124 CAD |
| Price Per Room | $144,191 CAD |
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 55,783 SF |
| No. Rooms | 121 |
| No. Stories | 6 |
| Year Built | 1966 |
| Parking Ratio | 1.02/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | MD-RD |
Amenities
- High Speed Internet Access
- Public Access Wifi
About 200 MILL ST , RENO, NV 89501
The asset consists of two distinct buildings, offering 75 keys and 50 keys respectively. Both buildings feature separate entrances and dedicated elevator systems allowing for operational independence. One side has a Bar underneath it and the other building has a Convenience store. The presence of Renaissance, a boutique hotel's advantageous placement together with the Automobile museum located directly across this property makes this site exceptionally well suited for a luxury high value development.
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 121 | $92.12 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,989,249 CAD | |
| Land Assessment | $265,716 CAD | Total Assessment | $2,254,964 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$265,716 CAD
Improvements Assessment
$1,989,249 CAD
Total Assessment
$2,254,964 CAD
1 of 12
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Lakemill Lodge | 200 Mill St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.