TURN KEY BUSINESS IN WALLACE, ID - Brooks Hotel-Restaurant -Lounge

Hospitality for Sale
Catylist Listing ID: 30111830
Property Subtypes: Extended Stay, Hotel, Inn, Spa, Other
Number of Units: 31 Units
Building Size (RSF): 48,091 SF
Gross Building Area: See Agent
Sale Price: $1,200,000
Unit Price: $38,709.68 Per Unit
Property Use Type: Business
Building Name: Brooks Hotel
Name of Establishment: Brooks Hotel, Restaurant and Lounge
Sale Terms: Cash to Seller
Last Updated: 11/7/2017

Overview / Comments

OWN A TURN KEY BUSINESS AND PIECE OF HISTORIC MINING TOWN OF WALLACE, ID!!

Known as the Silver Capital of the World! It also, Can’t be disproven that Wallace is the center of the universe, it follows that it most certainly must be and this fact is recognized at the exact center – a manhole cover on Main Street.

The owners Brooks Hotel, Restaurant & Lounge is ready to pass the torch on this TURN KEY BUSINESS! Located in the historic mining town of Wallace, Idaho. This building was completed in 1905 and was originally a hospital and is listed on the National Register of Historic Places. Onsite is a restaurant including catering and banquet rooms, the Brooks Lounge is a classic small town bar with many regulars. Tranquility Spa and Artistokats hair salon. The hotel offers 13 hotel rooms, 8 Suites, 4 with kitchenettes. There are also 6 furnished apartments, 3 commercial currently lease The 3rd floor still has remnants of the old hospital and has great bones. This could be remodel and create more offices, or a nice flat and living area and is layed out for for additional rooms. The possibilities are endless to create more revenue! Very convenient location off of I-90 is just minutes from two world class ski facilities, fishing, biking, hiking, a zipline and ATV and snow mobile trails. Just a short scenic drive to the famous Coeur d' Alene resort with many attractions along the way. There are so many opportunities and potential to walk right into this and make it your own!

Additional Details

Nearest MSA: Coeur d'Alene
County: Shoshone
Submarket Type: Historic District
Tax ID/APN: See Exhibits A,B,C,D,E
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: 5th Street, Main Street
Highway Access: Great access to I-90 into Montana or back into Coeur d Alene, Idaho.
Airports: Spokane International Airport, Coeur d Alene Airport in Hayden!
Site Description: Great corner visibility on 5th and Cedar St. very nice brick building with historic charm! Comes with the only 2 parking lots in town.
Area Description: The entire town of Wallace, Idaho is on the national Historic Register.A true, old west, mining town that still prospers today; the town of Wallace traces its roots back to 1884. Today, Wallace is a tourist Mecca. The world is drawn to this area by the towering mountains, beautiful forests, sparkling streams, and world class attractions. You’re invited to tap into a mother-lode of historic attractions that will captivate your imagination, thrill your senses, and transport you back to the days of the wild west (which lasted much longer around Wallace than most places). Enjoy truly unique museums and historical sites that tell the stories of the railroaders, miners, working class heroes, and even “working girls” that carved this beautiful gem of a town from the Bitterroot mountains.
Nearby Attractions: Today, Wallace is a tourist Mecca. The world is drawn to this area by the towering mountains, beautiful forests, sparkling streams, and world class attractions. Just east of town is the Lookout Pass recreation area which averages over 400 inches of light fluffy powder on the ski runs every year. South and East of Wallace is the world famous Route of the Hiawatha. This 15 mile section of former railway is widely recognized as the most scenic hiking and biking trail in the USA. Silver Mountain Resort with a waterpark and gondolas to the ski mountain lies only 20 minutes to the west.Wallace also has the notable distinction of being officially declared the Center of the Universe.
Total Number of Buildings: 2
Number of Stories: 3
Property Condition: Good
Year Built: 1905
Roof Type: Flat
Construction/Siding: Block, Brick
Exterior Description: Nice brick, classic historic building.
Parking Type: Surface
Parking Description: The only 2 parking lots on town.
Laundry: Shared
Heat Type: Natural Gas, Hot Water, Steam
Heat Source: Central, Other
Air Conditioning: Window Unit, Other
Internet Access: Cable
Interior Description: Nicely maintained historic building (On the national historic registry) with classic features and history throughout. Several rooms have been updated.
Zoning Description: Commercial
Water Service: Municipal
Sewer Type: Municipal
Legal Description: See Exhibits A,B.C.D.E. Several descriptions, call listing agent fr documents.

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 810 3,393
Median Age: 47 46.5
Households: 376 1,473
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