COMMERCIAL PROPERTIES - LoopNet · opportunities within a 20 minute drive and the best variety of...

BrokerOne Commercial Real Estate Team

COMMERCIAL PROPERTIES 550 N. POPLAR STREET ● CASPER, WY 82601

$750,000 BROKER1REALESTATE.COM

MASTERSON PLACE 2325 E. YELLOWSTONE HWY.

CASPER, WY 82609

TABLE OF CONTENTS

EXECUTIVE SUMMARY 3

CITY AERIALS 4 CITY AERIAL 4

PROPERTY LOCATION 5

PROPERTY 6

PROPERTY FEATURES 7 SUBJECT AREA 7

SITE DATA 7

DESCRIPTION OF IMPROVEMENTS 8

ENVIRONMENTAL 9

LEASE / PURCHASE PRICE 9

PROPERTY LAYOUT 10

PROPERTY PHOTOS 11

REGIONAL SERVICE 20 CASPER 20

WYOMING 21

CASPER MAPS 22 DRIVE TIME 22

SIGNIFICANT RETAIL 23

DINING 24

BROKER ONE COMMERCIAL TEAM 25 RANDALL S. HALL, CCIM 25

KENT HAMBRICK, ASSOCIATE BROKER 25

CHUCK HAWLEY, SALES & LEASING 26

DENNIS BAKER, ASSOCIATE BROKER 26

BROKER1REALESTATE.COM

2

The Commercial Leader

E YELLOWSTONE HWY

CASPER RAIL TRAIL


3


EXECUTIVE SUMMARY

BrokerOne Real Estate is pleased to offer the opportunity

to acquire Masterson Place, a 40-unit motel, located in the

heart of Casper, WY.

The original motel, constructed as an ±11,161 SF U-

shaped motor court, contains 26 rooms. The ±8,060 SF

two-story annex, built in 1971, contains 14 rooms. Room

types include one (1) King-sized bed, one (1) Queen-sized

bed, two (2) Queen-sized beds, or one (1) King-sized bed

and one (1) Queen-sized bed.

The facility is currently operated as a patient hotel for the

nearby Wyoming Medical Center and could continue to

function as a unique motel property, or due to its fantastic

location and accessibility, be developed into any number of

commercial enterprises.

ADDRESS 2325 E YELLOWSTONE HWY

LOCATION NATRONA COUNTY

TOTAL BUILDING AREA ±19,221 SQ. FT.

TOTAL LAND AREA ±2.66 ACRES

YEAR(S) BUILT 1949-1971

OFFERED PRICE $750,000

E YELLOWSTONE HWY

CASPER RAIL TRAIL


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CITY AERIAL

SUBJECT

E YELLOWSTONE HWY

CASPER RAIL TRAIL


5


PROPERTY LOCATION

SUBJECT

N B

EVER

LY ST

E YELLOWSTONE HWY

EASTRIDGE MALL

E 2ND ST

E YELLOWSTONE HWY

BR

YA

N ST

OC

K TR

AIL

E 2ND ST

S BEV

ERLY

ST

SE WYO

MING BLVD

S CO

NW

ELL ST

S BEEC

H ST

E 12TH ST

EAST K ST


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PROPERTY

SUBJECT

EAST E ST

E YELLOWSTONE HWY

N B

EVER

LY ST

BURLINGTON AVE

N H

EREFORD

LN

N LEN

NO

X ST

CASPER RAIL TRAIL

EAST F ST

EAST F ST

CASPER RAIL TRAIL

E YELLOWSTONE HWY

BR

YA

N STO

CK

TRA

IL


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PROPERTY FEATURES

SUBJECT AREA The property is located on E. Yellowstone Hwy. (US Hwy. 20/26/87-BUS), approximately 0.2 mile from I-25, and in close proximity to Casper’s Central Business District (CBD), just 1/2 block from N. Beverly Street. East Yellowstone Hwy. becomes First Street through the CBD and is a 4-lane with center turn lane for much of its length.

The surrounding land uses include a car dealership, a non-branded family restaurant, a welding/fabrication building, and various other warehouses, shops, office buildings, and retail and service businesses. The Casper Rail Trail, a pedestrian walkway and part of the Platte River Trails system, lies along the southern boundary of the property.

SITE DATA

The site is 2.66 acres (115,869.6 SF) and currently zoned C2: General Business. With ±403 ft. of frontage along Yellowstone, there are 4 curb cuts in the concrete curbs, plus concrete gutters and sidewalks.

The property is generally level, but does slope slightly to the north, toward Yellowstone.

All public utilities are available, with Police and Fire Protection provided by the City of Casper.

REAL PROPERTY TAXES FOR THE YEAR: 2015

PARCEL ID DESCRIPTION TOTAL LAND

AREA

TOTAL BUILDING

AREA

ESTIMATED

TOTAL TAX

33790232800100 MASTERSON PLACE LOT 1

COMMERCIAL EXEMPT

115,869.6 SQ. FT.

(2.66 ACRES)

11,227 SQ. FT.

(BUILDING #1) N/A*

8,190 SQ. FT.

(BUILDING #2) N/A*

*The subject property is currently owned by a non-profit organization and has been exempt from property taxes.


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PROPERTY FEATURES

DESCRIPTION OF IMPROVEMENTS

±2.66 Acre Site with 2 Buildings

Building #1: ±11,161 Sq. Ft.

Building #2: ±8,060 Sq. Ft.

Two (2) Nice Garden Areas for Guests

Office Space

Laundry Facilities

40 Total Rooms (26 and 14, Respectively) Ample Paved Parking

BUILDING #1 - MAIN BUILDING

Building #1 is the original u-shaped motor court-style motel, constructed in 1949. The facility boasts 26 rooms, each with a private bath. Room sizes vary, but most are in the ±240 to ±290 SF range. Room types include one Queen-sized bed, one King-sized bed, or two Queen-sized beds.

Typical furnishings include the bed(s), a table and two chairs, night stand, TV, dresser, mini-fridge, and microwave.

The office and an apartment that previously served as the owner’s quarters are at the north end of the west wing. The structure also has guest laundry facilities, commercial laundry facilities, a storage room, and the mechanical basement.

The courtyard has a lovely old-growth cottonwood tree, beautiful landscaping, and two picnic tables.

BUILDING #2 - ANNEX

Building #2 serves as the two-story annex, and has 14 rooms—each with a private bath. The rooms in the building are larger, averaging around ±430 SF. They contain two beds: either one Queen-sized and one King-sized bed or two Queen-sized beds.

Typical furnishings for the rooms in this building include the beds, a desk and chair, dresser, TV, full-sized refrigerator, night stand, and recliner.

The annex has a beautiful garden area with paved walkways, benches with arbors, and a large pergola with picnic tables.


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PROPERTY FEATURES

ENVIRONMENTAL No representation is made nor implied by BrokerOne Real Estate as to the presence, at any location on the property, of any known hazardous material as defined by the United States Environmental Protection Agency or the Wyoming Department of Environmental Quality. A prospective purchaser should retain the services of independent professionals qualified to render opinions and/or determinations as to the presence of hazardous materials.

PURCHASE PRICE

The offered price is $750,000.


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PROPERTY LAYOUT


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PROPERTY PHOTOS

MAIN BUILDING: FRONT VIEW ANNEX: FRONT VIEW

MAIN BUILDING: MOTOR COURT MAIN BUILDING: COURTYARD


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PROPERTY PHOTOS

COURTYARD COURTYARD

MAIN BUILDING: TYPICAL DOUBLE QUEEN ROOM MAIN BUILDING: TYPICAL DOUBLE QUEEN ROOM


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PROPERTY PHOTOS

MAIN BUILDING: TYPICAL BATHROOM

MAIN BUILDING: TYPICAL BATHROOM

MAIN BUILDING: TYPICAL DOUBLE QUEEN ROOM


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PROPERTY PHOTOS

MAIN BUILDING: TYPICAL SINGLE KING ROOM

MAIN BUILDING: TYPICAL SINGLE KING ROOM

MAIN BUILDING: KING ROOM BATH


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PROPERTY PHOTOS

MAIN BUILDING: STORAGE

MAIN BUILDING: EMPLOYEE KITCHEN

MAIN BUILDING: LAUNDRY FACILITIES


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PROPERTY PHOTOS

MAIN BUILDING: OFFICE SPACE MAIN BUILDING: GUEST LOBBY

MAIN BUILDING: GUEST LOBBY MAIN BUILDING: FRONT DESK


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PROPERTY PHOTOS

ANNEX: FRONT ELEVATION ANNEX: GUEST GARDEN

ANNEX: GUEST GARDEN ANNEX: GUEST GARDEN


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PROPERTY PHOTOS

ANNEX: LOBBY & GUEST VENDING ANNEX: LOBBY & GUEST VENDING

ANNEX: TYPICAL KING & QUEEN ROOM ANNEX: TYPICAL KING & QUEEN ROOM


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PROPERTY PHOTOS

ANNEX: TYPICAL GUEST BATH ANNEX: TYPICAL GUEST BATH


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REGIONAL SERVICE: CASPER

CASPER Casper, Wyoming is one of the most outstanding communities in the Rocky Mountain region. Casper has the amenities of a metro area with the convenience and accessibility of a smaller community. As the 2nd largest metropolitan area in Wyoming, and located within Natrona County, Casper has diverse outdoor recreation opportunities within a 20 minute drive and the best variety of indoor recreation within a 10 minute drive. From downhill skiing to Broadway shows, Casper offers it all. Casper cradles a broad industry base built around natural resources and expanding to manufacturers who desire low overhead with a central western presence. Available business parks offer locations that put business close to suppliers, customers and transportation hubs. The Casper economy continues to thrive. Companies are opening new facilities in the Casper area, while established industries are expanding; creating new jobs, infusing new capital and solidifying their investments. Casper’s strategic location allows superb access to companies worldwide:

Through Wyoming’s only International Airport

Via enhanced freight routes along I-25

Superior rail yard, routes and service on BNSF

With a new trans-load facility

Via unsurpassed telecommunications capabilities

The ability to get goods and services to more markets makes Casper businesses more efficient and more profitable. As one of the fastest growing economic centers in the western United States, it is known for its pro-business attitude, and pro-industry growth. Its location and business community drives the need for FedEx and UPS to service a regional hub out of the Casper/Natrona County International Airport. In the last 10 years, Casper has been experiencing a huge economic boom and its economy has continued to grow despite the national economic downturn. Forbes Magazine rated Casper, Wyoming (July 2014) as one of the “Best Small Places for Business and Careers,” with “a median household income of $54,237, Unemployment 3.7%, and Cost of Living 5.0% below national average. The development of coal and uranium fields in recent decades has helped Casper continue its role as a center in the energy industry.” Casper’s 2015 median household income is $55,074, while the average household income is $71,481.

5,369 Square Miles (Natrona County)……………..

5,125 ft. Elevation (City of Casper)……………………


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REGIONAL SERVICE: CASPER & WYOMING

CASPER

Casper, Wyoming has something for everyone, offering all the advantages of a bigger city and serving as a central hub for Wyoming. Casper is rich in the arts with several theater groups, the Wyoming Symphony Orchestra, concerts, festivals, and museums. The Casper community is very proud to include the National Historic Trails Interpretive Center as one of its major attractions. The Interpretive Center displays exhibits of the pioneer days on the Oregon, California, Mormon and Pony Express Trails. The Casper Events Center, with a seating capacity of 10,000, is another major attraction that offers many entertainment opportunities. Casper is host to the College National Finals Rodeo in June, concerts, off Broadway plays, and a plethora of other family entertainment at the Events Center. Casper is also a wonderful place for indoor and outdoor sports. The Three Crowns golf course is a new 18-hole championship course—a terrific addition to Casper's existing three golf courses. Outdoor recreation on the North Platte River offers fishing, rafting, and kayaking. Several lakes are just a short distance away for boating, swimming, fishing, and camping. Winter skiing & snowboarding are enjoyed on Casper Mountain. Casper's central location has made the city a focal point for regional, financial, retail, and medical services.

Wyoming leads the nation in coal production (1st), uranium (1st), natural gas (3rd) and crude oil (7th). With over 40% of Americas low-sulphur coal coming from Wyoming mines, the coal industry continues to remain strong, and with export of Wyoming’s coal to other nations, coal remains a solid energy source. In addition, Wyoming is also ranked the leader in uranium production. With recent advances in uranium mining (in-situ), Wyoming produced 2.9 million pounds of yellow cake which was processed at surface locations throughout the state in 2014. This precious mineral is used throughout the world for energy production. The recent exploration and increased production in the northeast, central, and western parts of Wyoming, has expanded production levels that are projected to continue to rise for many years to come. Wyoming has 22 of the 23 counties producing natural gas and oil. Recorded sales were over 2,000 trillion cubic feet of natural gas in 2013 and 75.6 million barrels of crude oil in 2014. In addition there are over 27,300 miles of natural gas, crude oil and other petroleum based product pipelines throughout the state.

LIFESTYLE WYOMING


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CASPER MAP - DRIVE TIME


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CASPER MAP - SIGNIFICANT RETAIL


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CASPER MAP - DINING


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BROKER ONE COMMERCIAL TEAM

“There’s as much

risk in doing

nothing as in

doing something.”

31+ Years Commercial

Experience

Large Referral

Network

Dedicated, Diversified &

Knowledgeable

RANDALL S. HALL, CCIM

Principle Broker

Randy Hall has represented or facilitated transactions with an extraordinary number of national and regional companies. He is a full-time commercial broker, experienced in almost every aspect of commercial and investment real estate brokerage, and holds the highly respected designation of Certified Commercial Investment Member (CCIM) from the CCIM Institute. Randy is past president of the Wyoming Association of REALTORS®, past member of the Casper Planning & Zoning Commission and current member of the Wyoming Real Estate Commission.

“I can do all

things through

Christ which

strengtheneth me.”

- Philippians 4:13

Broad Business

Background

10+ Years Real

Estate Experience

Reliable &

Determined

KENT HAMBRICK

Associate Broker

Kent has been a real estate professional in Casper since returning to Wyoming in 2003. Before his return, Kent pursued a successful 23 year career in marketing, largely in the hospitality and retail industries. Kent has the skills and expertise to serve your commercial, investment, relocation and residential real estate needs. He earned a B.A. from the University of Nebraska and an M.B.A. from Southern Methodist University.


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BROKER ONE COMMERCIAL TEAM

“Results, not

excuses.”

27 Years Commercial Real

Estate Experience

Knowledge

Innovation

CHUCK HAWLEY

Commercial Sales & Leasing

Chuck brings an array of skills, knowledge, and over 19 years of commercial and retail experience. Before returning to Casper with his family, Chuck provided management oversight for over 3.4 million square feet of commercial office buildings in Los Angeles and more recently, was the general manager of Eastridge Mall, in Casper. He is a Casper College and University of Wyoming graduate with a B.S. degree in business management.

“Success doesn’t

come to you…

you go to it.”

26 Years Commercial

Banking

10 Years Real

Estate Experience

Committed, Detailed &

Client Oriented

DENNIS BAKER

Associate Broker

Experience counts. With over 27 years of real estate experience, Dennis Baker brings unique expertise, proficiency and insight to BrokerOne. He is a seasoned expert in commercial real estate and real estate lending practices. His keen knowledge and understanding about cash flow analysis, loan structures and debt analysis have proven invaluable to clients during negotiations. Dennis is dedicated to building strong and lasting relationships in the real estate industry and the community.

COMMERCIAL PROPERTIES - LoopNet · opportunities within a 20 minute drive and the best variety of...

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