Post on 03-Oct-2020
transcript
Sheridan Lake Road
Hwy 385
Sheridan LakeMarina
Horse Creek Inn & Resort18.07 Acres
Chris Long, CCIMCommercial Broker605.939.4489chris@rapidcitycommercial.com
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.com
Your Property...Our PrioritySM
Exclusively listed by:
C A B I N S | R V PA R K | R E S T A U R A N T | PA R K M O D E L S | D O C K & B O A T R E N T A L S
RESORT & MARINA FOR SALEHorse Creek Inn & Resort | Sheridan Lake Marina23570 US Highway 385 | 16451 Sheridan Lake RoadRapid City, SD 57702
Updated June 2019
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
PROPERTY DETAILSHorse Creek Inn & Resort | Sheridan Lake Marina
Horse Creek Inn & Resort Property: 8GuestCabins,SalesOffice,Restaurant,RVandPark
ModelSites Acres: 18.07 Zoning: GeneralCommercial YearsBuilt: 1918,1924,1937,1938,1970 TaxID&LegalDescription: 5146(13.3Acres)-SaxonPlacerMS1250,LOT17LESS
OUTLOT1&RTY(ALSOINSECTION3) 5147(4.77Acres)-SaxonPlacerMS1250,OUTLOT1OF
LOT17&30’RTY Taxes(2018): $14,567.84
Sale Price: $999,000Property Highlights• Established,multi-income,fullamenityresortalongHwy385
• 8guestcabins&25RVsites• Historic3,060SFrestaurantwithfullbar• Parkmodelsalesandlotrental(13lotsrented)
• IdeallylocatedintheheartoftheBlackHills,HorseCreekInn&Resortisnestledinaquiet,secludedvalleyalongHorseCreekandaroundthecornerfromSheridanLakeRecreationArea
• RestaurantandsalesofficehavefrontageonHwy385.RVsites,cabinsandparkmodelsitesarehiddenfromthebusyhighway
• PropertyisclosetoallthesightsintheBlackHills-30minutestoMtRushmore,CrazyHorseandCusterStateParktothesouth,45minutestoDeadwood/Leadtothenorth,and30minutestoRapidCitytotheeast
• BorderedbyForestServicewithpedestrianandvehicleaccesstothetrailsand1milefromtheSheridanLakeNorthBoatLaunch
Sheridan Lake Marina Property: 118totalboatslips(112rentals,6usedbyowner) —NorthShore-88boatslips —SouthShore-30boatslips —Marinastore&3bed/1bathvacationrental —Maintenancegarage Acres: +/-6.5acresleasedfromForestService(~3%ofgross
sales) Zoning: ForestService YearsBuilt: 1967 TaxID&LegalDescription: 12951-MS972,BLLONNW1/4NW1/4(MARINA) Taxes(2018): $2,191.06
Sale Price: $1,699,000(withHorseCreekResort,notavailableseparately)
Property Highlights• Full-servicemarinaoffersboatrentals,baitandfishingtackle,conveniencefoodsandoutdoorequipment
• LocatedonSheridanLake,apopularyear-roundoutdoorrecreationdestinationforBlackHillstouristsandresidents.SheridanLakeis383acreswith7.5milesofshorelineofferingfishing,hiking,boatingandswimming
• OfferstheonlylakefrontvacationrentalwithintheBlackHills,availableyear-round• Just1milefromHorseCreekInn&Resort,bothonly30minutesfromRapidCityviaSheridanLakeRoadandonHwy385,themajorthoroughfaretoallmajortouristsitesandtownsintheBlackHills
• Boatslip,boatandequipmentrentalsrunfromMay1throughOctober1;vacationrentalavailableyear-round.Rentalratesincludedonfollowingpages
• Alldocksreplacedoverthelast7yearswithlong-lastingsteelframestructures• Employs6-7;1full-time,year-roundmaintenanceemployeeand5-6seasonalemployees• Futureplansfordevelopment(withForestServiceapproval)include10newcabins(2onthelake,8behindthemarina),showerhouseand20’x40’picnicpavilion
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
SITE PLAN23570 Hwy 385, Rapid City, SD 57702
TO RAPID CITY/HILL CITY/CUSTER
TO DEADWOOD/LEAD
US FOREST SERVICE
HORSE CREEK
USFS ACCESS
Horse CreekInn & Resort
18.07 Acres
DEEP WATER LINESHALLOW WATER LINESEPTIC
WELL
WELL
WELLDRAIN FIELD
x2
RESTAURANT
SALESOFFICE
HOMESTEADCABIN GUEST
CABIN
ROOM FOR EXPANSION
GUESTCABIN
GUESTCABIN
GUESTCABIN
GUESTCABIN
GUESTCABIN
RESIDENTRV & BOATPARKING
25NIGHTLY RV SITES
PARKMODELSITES
PARKMODELSITES
GUESTCABIN
LAUNDRY
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
SITE PLAN16451 Sheridan Lake Road, Rapid City, SD
SOUTH SHORE1.0 Acres
NORTH SHORE3.11 Acres
Sheridan Lake Marina
South Shore30 Boat Slips1.0 Acres
MAINTENANCEGARAGE
MARINA STORE& VACATION RENTAL
DEVELOPMENTSITE
North Shore88 Boat Slips5.5 Acres
CUSTOMER PARKING
RV PARKING
Developmentsitenotincludedintotalacres.Developmentplansprovideduponrequest.
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
FINANCIAL SUMMARYHorse Creek Inn & Resort, Black Hills, SD
Restaurant Sales $343,706COGS $135,130Expenses $171,678Net Income(31%ofAverageNetIncome) $36,898
Resort Sales $115,593Expenses $48,728Net Income (56%ofAverageNetIncome) $66,865
Park Model Sales $170,576COGS $158,225Net Income(10%ofAverageNetIncome) $12,351
RV Sales $21,658COGS $18,924Net Income (2%ofAverageNetIncome) $2,734
Total Sales: $651,533Total COGS: $312,279Total Expenses: $220,406Average Net Income: $118,848
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
FINANCIAL SUMMARYSheridan Lake Marina, Black Hills, SD
2016 2017 2018
Store Sales (Grocery,License,Bait,etc.) $63,697 $65,546 $55,427
Vacation Rental $36,401 $28,097 $31,354
Boat Rentals $109,109 $111,171 $131,071
Dock Rental $64,538 $75,085 $67,297
Equipment Rentals $28,718 $30,129 $20,947
Other ($745) $1,404 $145
Total Income $301,717 $311,431 $306,241
COGS $49,686 $53,289 $42,912
Gross Profit $252,031 $258,142 $263,330
AdjustedExpenses $192,472 $190,699 $188,896
Adjusted Net Operating Income $59,560 $67,443 $74,434
Detailedfinancialsandequipmentlistprovideduponrequest.
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
RENTAL RATESSheridan Lake Marina, Black Hills, SD
Vacation Rental• 3bed/1bath,sleeps8adults• Fully-equippedkitchen,laundryfacilities,satelliteTVandfreewi-fi• Private,handicappedaccessibleentranceand300SFdeckover-
lookingthelakeandmarina• 2-nightstayminimum• Nosmokingorpetsallowed• Discountedboatrentalswithstay,10%offallentreesatHorse
CreekInn• On-linereservationsviawebsite,Expedia.comorVRBO.comDates Nightly RateDecember-March $149April-May $189June-August $295**SturgisRallyWeek $400September-November $189**ExceptSturgisRallyWeek
Dock & Mooring Rentals• 112boatslipsrentals(118total)• Accommodationofboatsupto30’inlengthandoptionsforlarger
vessels• Mooringsavailableformonthlyornightlyrental• MooringbuoysatNorthandSouthmarinadockageareas.Shuttleor
ferryserviceprovided• BoatandtrailerdrystorageatMarinaoratHorseCreekResort• WinterstorageavailableType RateBoatSlip,NorthorSouth $700/seasonJetSkiDock,Northonly $250/seasonMooring $300/season
$60/month$5/night
DryStorage(Boat&Trailer) $50/monthDryStorage(Traileronly) $25/month
Wave Runner Rentals• TwoYamahaVX110waverunners• Quiet,4-strokeengines• 21yearsoldtooperateand5yearsoldtorideasapassenger
1 Hour 2 Hours 4 Hours Additional Hour (after 4 hrs)$65 $120 $200 $50
Boat & Equipment Rentals
Equipment 2 HoursMorning
8 AM-1 PMAfternoon
2 PM - 7 PMFull Day
8 AM - 7 PM Additional HourDeck/SkiBoat,10adults $180 $240 $260 $310 $7018’Pontoon,8adults $120 $160 $180 $240 $3020’-22’Pontoon,12adults $140 $180 $200 $260 $3024’Pontoon,14adults $160 $220 $240 $290 $35FishingBoat,5adults $50 $70 $70 $100 $25Canoes&Kayaks $30 $45 $45 $60 $10PaddleBoat $30 $45 $45 $60 $10Stand-UpPaddleBoard $30 $45 $45 $60 $10TowTube $30 $30 $50 $10WakeBoardorKneeBoard $25 $25 $40 $10WaterSkis $20 $20 $30 $5FishingPole $8
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
PHOTOSHorse Creek Inn & Resort, Black Hills, SD
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
PHOTOSSheridan Lake Marina, Black Hills, SD
Your Property...Our PrioritySM
Keller Williams Realty Black Hills | 2401 West Main Street, Rapid City, SD 57702 | 605.343.7500 | www.RapidCityCommercial.comDisclaimer: The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
LOCATION23570 Hwy 385, Rapid City, SD 57702
Hill City
Custer
Keystone
Hot Springs
Deadwood Sturgis
Spearfish
Sundance
Newcastle
Black Hills National Forest
Custer State Park
Mt. Rushmore
Crazy Horse Monument
Wind Cave National Park
Lead
Badlands National
Park
Box Elder
Hermosa
Ellsworth Air Force
BaseRapid CityHorse Creek Inn & Resort
Sheridan Lake Marina
Welcome to South Dakota and the Black Hills!TheMountRushmoreStateofSouthDakotahascarvedasolidreputationforbusinessfriendliness.Itisconsistentlyrankedinthetopfivestatesforsettingupandconductingbusiness.SmallandbigcompaniesalikearediscoveringSouthDakota’scentrallocationandprogressivebusinessclimate.TheBlackHillsboaststhecountry’smostrecognizednationalmonument-Mt.Rushmore-bringingmillionsoftouristsfromallovertheworldtoWesternSouthDakotaeveryyear.Forthepast8years,SouthDakotatourismhaspostedanincreaseinvisitation,visitorspendingandoverallimpactonthestate’seconomywith13.9millionvisitorstoSouthDakota,$3.88billioninvisitorspending,and53,894jobssustainedbythetouristindustry.
Rapid City Area Key StatsTotalWorkForce................................................65,250Employed............................................................62,900Unemployed.........................................................2,350UnemploymentRate.............................................3.6%Right-to-workLaw....................................................Yes
Employment by Sector:RetailTrade..........................................................8,400Transportation,Warehousing&Utilities............. 11,600Professional&BusinessServices........................5,100Educational&HealthServices...........................10,600Leisure&Hospitality.............................................7,800Government........................................................10,700
National RankingsRapid City—Best TownsOutdoor Life, 2010South Dakota—Best State for Business CNBC, 2016Rapid City— Best Places to Launch a Business CNN Money, 2009Rapid City—Cities with the Lowest Unemployment RateForbes, 2017Rapid City—Best Small City for Small BusinessVerizon, 2018
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4minutestoSheridanLakeMarina11minutestoHillCity24minutestoMtRushmore24minutestoCrazyHorse32minutestoRapidCity47minutestoDeadwood/Lead50minutestoCusterStatePark