42504
6064 South Durango Drive, Las Vegas, NV 89113702.383.3383 | naivegas.com
520 N Moapa Valley Blvd | Moapa Valley, NV 89040Gregg McArthurLIC#[email protected]
NAI Vegas | naivegas.comOffered By: Gregg McArthur 2
Offering Memorandum
Non-Warranty
Neither the seller or NAI Vegas, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents, as to the financial performance of the property, or as to the condition of the Property, malfunctions or mechanical defects on the Property or to any improvements thereon, including but not limited to the material, workmanship or mechanical components of the structures, foundations, roof, heating, plumbing, electrical or sewage system, drainage or moisture conditions, air conditioning, or damage by the presence of pests, mold or other organisms, environmental condition, soils conditions, the zoning of the Property, the suitability of the Property for Interested parties intended use or purpose, or for any other use or purpose.
No Obligation
No legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; Interested Parties are to rely solely on its investigations and inspections of the Property in evaluating a possible purchase or lease of the real property. The seller expressly reserves the right, at its sole discretion, to reject any or all offers to purchase or lease the Property, and/or to terminate discussions with any entity at any time, with or without notice, which may arise as a result of review of this Memorandum.
Confidentiality
By receipt of this Memorandum, you agree that this Memorandum and its contents are confidential in nature, that you will hold and treat such in the strictest confidence and that you will not disclose this Memorandum, or any of its contents, to any other entity without the prior written authorization of the seller or NAI Vegas. If after reviewing this Memorandum, you have no further interest in purchasing or leasing the Property, please delete or return this Memorandum to NAI Vegas.
Terms and Conditions
This offering, including any related digital marketing, contains selected information pertaining to the Property and does not purport to be a representation of the state of the Property, to be all-inclusive, or to contain all or part of the information which interested parties may require to evaluate a purchase or lease of real property.
Financial Information
Any and all financial projections and information are provided for general reference purposes only and have been gathered from sources deemed reliable. Certain assumptions have been made relating to the general economy, market conditions, competition and other factors beyond the control of seller and NAI Vegas. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation.
Summary Documents
Additionally, all references to acreage, square feet, and other measurements are approximations. Any demographics, geographic information systems(GIS), maps, photography, zoning, site plan, survey, engineering, architectural drawings, and any other information are without assurance of their accuracy, time sensitivity, completeness, or status of approval. Documents presented may be preliminary, have no assurance of being “as built”, and may not reflect actual property boundaries or improvements. Additional information and an opportunity to inspect the Property can be made available to qualified parties. In this Memorandum, certain documents are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full documents referenced herein. Interested parties are expected to review and confirm all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.
NAI Vegas | naivegas.comOffered By: Gregg McArthur 3
04 Investment Overview05 Pricing Overview06 Property Summary10 Features & Amentities12 Photos16 Maps18 Pricing & Financials21 Demographics
Content
NAI Vegas | naivegas.comOffered By: Gregg McArthur 4NAI Vegas | naivegas.comOffered By: Gregg McArthur 4
Investment OverviewNAI Vegas Hospitality has been retained to exclusively represent the owner in the sale of this well-kept independent 43 room hotel. The North Shore Inn at Lake Mead is strategically located in the heart of Moapa Valley, a quaint desert community located 45 minutes north of Las Vegas. This highly rated property is perfectly situated to provide boaters, swimmers and fishermen easy access to the crystal clear waters of Lake Mead National Recreation Area. The Valley of Fire State Park, one of Nevada’s most popular outdoor recreation areas is located only 10 miles away. The Valley of Fire has been consistently ranked as one of the top 10 state parks in the United States. It offers photographers, hikers, off-road enthusiasts and tourists unsurpassed outdoor recreation in it’s 40,000 acres of bright red sandstone outcrops.
Property amenities include: covered entry with open lobby area, a well maintained swimming pool with jacuzzi, guest laundry facilities, business center, complimentary breakfast and complimentary WiFi internet access. This property offers the following room amenities: Flat Screen TV, clock radio, table and chair, direct dial phone, coffee maker, microwave, refrigerator, and connecting rooms.
The property had room revenues in 2019 of $797,533 and is priced under replacement cost at $65,116.27 per key. The property has been continually well maintained and has undergone regular remodels and maintenance. This is a great opportunity for a buyer to take advantage of this properties unique position as the top rated hospitality property in the market and it’s prime location in the Moapa Valley area.
• 16.55% Cap Rate*
• $18,196.53 Per Key in Room Revenues
• $97.59 2019 ADR
• Top Rated Hospitality Property in the Market
• 43 Rooms
• Independent Property with No Franchise Fees
*Based on 2019 revenues, at asking price with 25% down, 4.5% interest rate, amortized over 25 years.
NAI Vegas | naivegas.comOffered By: Gregg McArthur 5NAI Vegas | naivegas.comOffered By: Gregg McArthur 5
Pricing OverviewPrice $2,800,000
Down Payment 25.0% / 700,000
Total Rooms 43
Price/Room $65,116
Occupancy 52%
ADR $97.59
RevPAR $51.27
Number of Buildings 1
Number of Floors 2
Number of Meeting Rooms 1
Year Built/Renovated 1998
Lot Size 3.07
Typer of Ownership Fee Simple
VITAL DATA
Cap Rate - Current 16.55%
Net Operating Income - Current $463,355
Net Cash Flow After Debt Service - Current $323,285
PROPOSED FINANCING
Loan Amount $2,100,000
Loan Type SBA/Conventional
Interest Rate 4.50%
Amortization 25 Years
Payment $11,672.48
Loan to Value 75%
Debt Coverage Ratio 3.30
NAI Vegas | naivegas.comOffered By: Gregg McArthur 6NAI Vegas | naivegas.comOffered By: Gregg McArthur 6
Property SummaryTHE OFFERING
Property North Shore Inn at Lake Mead
Property Address 520 North Moapa Valley Blvd.
Assessors Parcel Number 07012401005
SIRE DESCRIPTION
Year Built/Renovated 1998
Lot Size 3.07
Type of Ownership Fee Simple
Parking Ample
Handicap Parking Available
Truck Parking Available
Property Tier Budget
Location Type Rural
ROOM BREAKDOWN
Room Breakdown
Double Queen 19
Double Queen Delux 14
Double Queen Suite 1
Double Queen Accessable 1
King 4
Kind Delux 2
King Suite 1
King Accessable 1
Managers Unit 1 Unit
Total Number of Guest Rooms 43
NAI Vegas | naivegas.comOffered By: Gregg McArthur 7NAI Vegas | naivegas.comOffered By: Gregg McArthur 7
Property SummaryMEETING ROOMS
Meeting Room Yes
UTILITIES
Water Moapa Valley Water
Phone Moapa Valley Telephone
Electric Overton Power District
Gas Ferrellgas
CONSTRUCTION/MECHANICAL
Foundation Concrete
Framing Wood
Exterior Stucco/Brick
Parking Surface Asphalt
Roof Tile/Pitched
Plumbing PVC
Elevator NA
HVAC Individual PTAC
Fire/Life/Safety Sprinklers throughout
Managers Unit 1 Unit
Total Number of Guest Rooms 43
NAI Vegas | naivegas.comOffered By: Gregg McArthur 8NAI Vegas | naivegas.comOffered By: Gregg McArthur 8
Property SummaryINTERIOR ROOM DETAIL
Heating System Electric
Condition of Heating System Good
Cooling System Electric
Condition of Cooling System Good
Type of Bath/Shower Shower Tub Combo
Condition of Bath Shower Good
Bathroom Flooring Type Tile
Condition of Bathroom Flooring Good
Dressing Area Ample
Condition of Dressing Area Good
Type of Furniture Solid Wood
Condition of Furniture Like new
Window Coverings Drapes
Condition of Window Coverings Good
Room Floor Coverings Carpet
Condition of Floor Coverings Good
Wall Coverings Textured/Painted
Condition of Wall Coverings Good
Televisions 39"
Condition of Televisions Good
Microwave/Refrigerator In Each Room
Condition of Microvae/Refrigerator Good
Phone System Direct Dial
Voice Mail Phone with Voicemail
Internet Access Wireless Internet
NAI Vegas | naivegas.comOffered By: Gregg McArthur 9NAI Vegas | naivegas.comOffered By: Gregg McArthur 9
Property SummaryFRANCHISE
Franchise Parent Company Independent
Franchise Affiliation Independent
Franchise Royalty Fee None
Franchise Marketing Fee None
Transfer Fee (Paid by Buyer) None
TRANSPORTATION
Highway I-15
Airports Las Vegas McCarran International Airport
RECENT RENOVATIONS
Beds On Rotation
Pool Filter Equipment 2020
Pool Pump Equipment 2020
OR TEXT 20258 TO 39200CLICK HERE
FOR MORE INFORMATION
RECENT RENOVATIONS
Beds On Rotation
Pool Filter Equipment 2020
Pool Pump Equipment 2020
NAI Vegas | naivegas.comOffered By: Gregg McArthur 10NAI Vegas | naivegas.comOffered By: Gregg McArthur 10
Common AreaFeatures• Covered Entry with Open Lobby Area
• Well Maintained Pool W/ Jacuzzi
• Meeting Room
• Business Center
• Complimentary Breakfast
• Complimentary WiFi
• Guest Laundry Facilities
• Ice and Vending Machines
NAI Vegas | naivegas.comOffered By: Gregg McArthur 11NAI Vegas | naivegas.comOffered By: Gregg McArthur 11
Room Amenities• Flat Screen TV with Cable
• Mini Refrigerator
• Microwave Oven
• Coffee Makes
• Connecting Rooms
• Clock Radio
• Hard Wood Furniture
• Direct Dial Phone
NAI Vegas | naivegas.comOffered By: Gregg McArthur 12NAI Vegas | naivegas.comOffered By: Gregg McArthur 12
PROPERTY EXTERIOR
NAI Vegas | naivegas.comOffered By: Gregg McArthur 13NAI Vegas | naivegas.comOffered By: Gregg McArthur 13
COMMON AREA
NAI Vegas | naivegas.comOffered By: Gregg McArthur 14NAI Vegas | naivegas.comOffered By: Gregg McArthur 14
COMMON AREA
NAI Vegas | naivegas.comOffered By: Gregg McArthur 15NAI Vegas | naivegas.comOffered By: Gregg McArthur 15
GUEST ROOMS
NAI Vegas | naivegas.comOffered By: Gregg McArthur 16
Area Map
SITE
N MOAPA VALLEY BLVD
LOU ST
CALSREPAIR CENTER
MACK LYONMIDDLE SCHOOL
NAI Vegas | naivegas.comOffered By: Gregg McArthur 17
Area Map
SITE
N MOAPA VALLEY BLVD
NAI Vegas | naivegas.comOffered By: Gregg McArthur 18
ADR SummaryOCCUPANCY 2018 2019 2020
Jan 34% 44% 32%
Feb 46% 63% 61%
Mar 59% 77% 40%
Apr 54% 80% 7%
May 54% 67% 29%
Jun 25% 34% 25%
Jul 30% 35%
Aug 24% 30%
Sep 36% 43%
Oct 53% 59%
Nov 50% 61%
Dec 27% 34%
Avg 41% 52% 32%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Occupancy
$-
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
ADRADR 2018 2019 2020
Jan $90.02 $90.33 $96.21
Feb 95.32 95.15 103.24
Mar 95.55 98.43 94.72
Apr 96.06 97.14 85.69
May 96.75 101.81 94.99
Jun 93.02 96.54 94.26
Jul 90.31 94.56
Aug 96.12 97.71
Sep 95.31 96.58
Oct 95.36 101.82
Nov 97.20 104.52
Dec 91.41 96.43
Avg $94.37 $97.59 $94.85
NAI Vegas | naivegas.comOffered By: Gregg McArthur 19
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Room Revenue
$-
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
$70.00
$80.00
$90.00
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
RevPAR
REVPAR SummaryREVPAR 2018 2019 2020
Jan $30.86 $39.37 $30.46
Feb 43.70 59.67 63.03
Mar 55.98 76.06 37.59
Apr 52.05 77.86 5.85
May 48.70 68.12 27.15
Jun 23.07 33.15 23.46
Jul 26.76 33.55
Aug 23.00 28.88
Sep 34.06 41.85
Oct 50.72 60.34
Nov 48.37 64.01
Dec 24.69 32.41
Avg $38.50 $51.27 $31.26
ROOM REVENUE 2018 2019 2020
Jan 31 $41,136 $52,480 $40,603
Feb 28 $52,615 $71,843 $75,888
Mar 31 $74,621 $101,388 $50,107
Apr 30 $67,145 $100,439 $7,547
May 31 $64,917 $90,804 $36,191
Jun 30 $29,760 $42,764 $30,263
Jul 31 $35,671 $44,722
Aug 31 $30,659 $38,497
Sep 30 $43,937 $53,987
Oct 31 $67,610 $80,433
Nov 30 $62,397 $82,573
Dec 31 $32,912 $43,203
Total $603,381 $803,132 $240,600
NAI Vegas | naivegas.comOffered By: Gregg McArthur 20
2019 Actual Profit & Loss StatementDEPT. DESCRIPTION ACTUAL 2018 % OF REV ADJUSTMENT ADJ. AMOUNT % OF GR COMMENTS
Income
Room Revenue $890,624 - - $890,624 -
Utah State Hotel Tax $94,006 - - $94,006 -
Other Income $916 - - $916 -
Gross Revenue $797,533 100% - $797,533 100%
Expenses
Advertising $4,225 0.53% - $4,225 0.53%
Automobile $2,442 0.31% $(2,442) - 0.00% Personal Use
Bank Charges/CC proc $25,749 3.23% - $25,749 3.23%
Dues and Publication $33,463 4.20% - $33,463 4.20%
Equipment Rental $8,225 1.03% - $8,225 1.03%
Entertainment $1,148 0.14% - $1,148 0.14%
Insurance $21,689 2.72% - $21,689 2.72%
Legal and Accounting $4,111 0.52% - $4,111 0.52%
Misc $2,475 0.31% - $2,475 0.31%
Office Supplies $5,070 0.64% - $5,070 0.64%
Rent $240,000 30.09% $(240,000) - 0.00% Mortgage
Repair & Maint $33,755 4.23% - $33,755 4.23%
Supplies $45,437 5.70% - $45,437 5.70%
Travel $935 0.12% - $935 0.12%
Taxes & Licenses 0.00% - - 0.00%
Payroll Tax $6,081 0.76% - $6,081 0.76%
Telephone/Internet $6,869 0.86% - $6,869 0.86%
Utilities $60,007 7.52% - $60,007 7.52%
Wages $74,942 9.40% - $74,942 9.40%
Total Expenses $576,621 72% $(242,442) $334,178 41.90%
Net Operating Income $220,913 28% - $463,355 58.10%
NAI Vegas | naivegas.comOffered By: Gregg McArthur 21
Demographics
STREET CPD
N Moapa Valley Blvd / Liston Ave 4,550
S Moapa Valley Blvd / Scamp St 1,050
S Moapa Valley Blvd / E Virginia 5,200
Traffic Counts
POPULATION 1-mile 3-mile 5-mile
2019 Population 2,312 4,646 7,337
HOUSEHOLDS 1-mile 3-mile 5-mile
2019 Households 881 1,745 2,539
INCOME 1-mile 3-mile 5-mile
2019 Average HH Income $65,526 $71,172 $77,950
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6064 South Durango Drive, Las Vegas, NV 89113702.383.3383 | naivegas.com
Salt Lake City, Utah 420 miles
Reno, Nevada 438 miles
Los Angeles, California 270 miles
San Diego, California 332 miles
Denver, Colorado 748 miles
Phoenix, Arizona 305 miles
Gregg McArthurLIC#[email protected]