Cooke City, Montana

COOKE CITY, MONTANA

Mike Icardo Realty

Contact ‐ Marc Wass Licensed in Idaho and Montana ID ‐ (208) 660‐6198 MT (406) 671‐6355 (Voice) [email protected]

Cooke City, Montana Summary of Offering

32 Room Updated Hotel

Additional Land For Parking

Full Service Restaurant and Bar

Fully Equipped and stocked Maintenance Shops

Guest Laundry Area

Well Equipped Commercial Laundry

USPS Lease Space

Offsite Manager’s Residence Cooke City, Montana

Table of Contents

Section 1 Property Description

Section 2 Location Analysis

Section 3 Pricing and Financial Analysis

Section 4 Demographic Links

Mike Icardo Realty Cooke City, Montana

Property Description

Section 1

Mike Icardo Realty Investment Overview

Cooke City, Montana

Investment Highlights

 Current Absentee Ownership

 Increasing Revenue Stream and Cash Flow

 Recent Room and Restaurant Renovaon

 Three‐story, Interior Corridor Property

 Located at the Northeast Entrance to Yellowstone Na‐ onal Park

 Located On the Beartooth Highway

This independent hotel is a full service hotel which includes renovated standard rooms and larger family suites for guests. The hotel offers a full service restaurant and lounge open seven days per week. The hotel has just finished a major renovaon of most guest rooms, and restaurant and lounge area. The renovaon included a stud up renovaon. Upon entry guests are welcomed by a grand fire‐ place and mbered lobby area. The hotel is ideally located on Highway 212 just outside the entrance to Yellowstone Naonal Park and Scenic Beartooth Highway.

The property has excellent proximity to guest amenies. An Exxon gas staon is located conguous to the West and the US postal service has a leased facility onsite. A souvenir shop is located across the street. The onsite Restaurant and Lounge oﬀers a full service menu that includes all meal services including steaks and seafood for the dinner hour. The lounge oﬀers all beverage service and owned gaming machines for an addional revenue source.

This informaon has been secured from sources we believe to be reliable, but we make no representaons or warranes, expressed or implied, as to the accura‐ cy of the informaon. References to square footage or age are approximate. Buyer must verify the informaon and bears all risk for any inaccuracies. Mike Icardo Realty Property Summary

Cooke City, Montana

The Offering

Property Soda Butte Lodge

Property Address 210 Main Street E, Cooke City , Montana 59019 Tax ID 0000051210, 0000050880, 0000050885 and 000M006039 Site Description Total Area 1.7Acres

Year Renovated Current

Type of Ownership Fee Simple

Parking Above Average

Handicapped Parking Ample

Truck/Trailer/Motor Home Parking Good

Property Tier Independent, Standard Plus

Location Type Destination/Resort/Recreational

Room Breakdown

Total Number of Guest Rooms 32 Rooms

Total Employee Rooms 7 Rooms

Manager Home (Manufactured/Offsite) 1 Home

Owners Living Quarters (Onsite) 1 Bedroom Apartment

Cooke City, Montana

Construction/Mechanical

Foundation/Framing Concrete/Wood/Timbers

Exterior Siding

Parking Surface Asphalt/Gravel /Concrete

Elevator None

Roof Rolled/Shingle/Metal

HVAC Boilers + Electric BB

Fire/Life/Safety Fire Extinguishers, Smoke Detectors

Interior Room Detail

HVAC/Condition Mixed/Good-Excellent

Type of Bath/Shower/Condition Tub/Shower and Combo/Good-Excellent

Bath Floor Type/Condition Tile/Good-Excellent

Furnishings/Condition Newer Rustic Appropriate/Good-Excellent

Window Covering/Condition Draperies/Good-Excellent

Room Floor Type/Condition Carpet/Mixed Average-Excellent

Wall Coverings/Condition Paint Good–Excellent

Television Type/Condition Flat Screen Good

Phone System Available

Voice Mail Available

Internet Access Wireless - High Speed

Cooke City, Montana

Common Area Features Full Service Restaurant

Lounge Area with Gaming Machines

Renovated Public Bathrooms

Warm Timbered Recepon Area

Cooke City, Montana

Room Amenies Flat Screen TVs Large Family Suites

Updated FF&E Package Updated Bathrooms/Vanies

Newer Bedding

Some Creek View Rooms

Location

Section 2

Cooke City, Montana

Cooke City is located only a few miles from the Northeast Gate of Yellowstone Naonal Park, it is surrounded by Yellowstone Naonal Park, Custer/Gallan Naonal Forest and two Scenic Byways; The Beartooth Highway and Chief Joseph Highway. In 2016 Yellowstone Naonal Park had 5,130,513 visits with 231,267 occurring through the Northeast Gate of the Park.

The population in the Colter Pass, Cooke City, Silver Gate area is ap- proximately 100 people year round and 300 people during the sum- mer. The one room school serves K-8th grades. For school information contact the Park County School District. Enrollment in the recent past has ranged from 3 to 10 students.

Mike Icardo Realty Location

Cooke City, Montana

The Chief Joseph Scenic Highway, State Hwy 296 is a spectacular 46 mile drive from Cody, Wyoming to Cooke City, Montana allowing passengers to view the beauful landscape and abundant wildlife. The drive allows access to the Northeast entrance of Yellowstone Naonal Park and the Beartooth Highway. The Chief Joseph Scenic Highway, also known as the Sunlight Basin Road, starng just outside Cody, Wyoming, passes breathtaking sights such as the Yellowstone River and Heart Mountain. Visitors have the opportunity to view a huge array of wildlife at each turn. The Chief Joseph Highway oﬀers unbeatable views of Wyoming and the chance to view areas of geo‐ logical interest. From May 31 – September 30th total traﬃc on the Beartooth highway was 178,904 vehicles. Nonresidents represented

91% of total traﬃc: 76,147 through YNP NE entrance; 57,727 from Red Lodge; 28,391 from WY Highway 296 .

From the Cooke City, Montana area, visitors who leave Yellow- stone National Park through the northeast entrance will find themselves on the Beartooth All- American Road. The Road trav- els through the historic mining communities of Silver Gate and Cooke City, Montana, and contin- ues on for 68 breathtaking miles past the Beartooth-Absaroka Wilderness and over the Beartooth Plateau at an elevation of 10970 feet and to Red Lodge, Montana.

Mike Icardo Realty Location

Cooke City, Montana

Cooke City is a lile town nestled in the heart of some amazing mountain scenery right along the Montana/Wyoming border, just outside the north‐ east corner of Yellowstone Naonal Park. Ever wondered what exactly was placed at the edge of the earth? Well, in the winterme, the answer would be every snowmobiler's paradise‐Cooke City. Aer the snow ﬂies, there is only one way in and one way out of this quaint lile town, giving you the feeling this really is the end of the earth. Upon arrival you'll ﬁnd there is no reason to travel on any further.

The Colter Pass, Cooke City, Silver Gate area provides the state’s best snowmobiling as supported by SnoW‐ est Magazine who rated Cooke City #1 in 2004. Oﬀer‐ ing 60 miles of groomed trails that are maintained by the local volunteer snowmobile club.

Cooke City snowmobiling can start in early November and can end in late June or July. Cooke City is famous for late riding where winter snow condions can oen be seen in the late spring. Cooke City spring riding al‐ lows access to areas that may have been out of reach for some in normal mid‐winter condions—so extend your riding season and come to Cooke City.

SnoWest “Just west of the Beartooth Pass (elevaon 10,947 feet) is some of the best backcountry riding Montana has to oﬀer. You liter‐ ally ride from your lodging's doorstep (Soda Bue Lodge) and you quickly rise from Cooke City's elevaon at 7,600 feet to more than 10,000 feet in no me at all. While the trail map only shows 60 miles of groomed trails, we challenge you to cover it all over the course of three or four days. “

Mike Icardo Realty Location

Cooke City, Montana

Cooke City Snowmobiling

“Steep and Deep”

One of the World's

Premiere

Snowmobiling Destinations

Mike Icardo Realty Competitive Properties

Cooke City, Montana

Soda Bue Lodge is one of two major hotel properes in Cooke City. It is the only major full service facility in the Cook City Area. The primary compeon is the Limited Service Cooke City Super 8®. Various other mom and pop, small room count motels and cabin type resorts are in the area. In addion to tradional lodging opon Vacaon Rental By Owner and bed and breakfast opons are also available.

This informaon has been secured from sources we believe to be reliable, but we make no representaons or warranes, expressed or implied, as to the accuracy of the informaon. References to square footage or age are approximate. Buyer must verify the informaon and bears all risk for any inaccuracies. Mike Icardo Realty Cooke City, Montana

Pricing and Financial Analysis

Section 3

Mike Icardo Realty Financial Analysis

Cooke City, Montana

SUBJECT OFFERING

PROPOSED FINANCING

Proposed Loan Amount $1,725,000

Loan Type Proposed New

Interest Rate 5.25% Total Investment $2,300,000 Amortization 20 Years Lodge/Restaurant/Lounge $1,700,000 Additional Property (Optional)* $600,000 Loan Program Conventional Total Guest Rooms 32 Loan to Value 75%

Additional Parking Area* Ample Annualized Payments $141,368 Manager’s Residence* 1 Generator Building 1 Total Land Area ±1.7 Acres Type of Ownership Fee Simple

Total Investment

Price $2,300,000 Down Payment (25%) $575,000 Proposed New Loan $1,725,000 Offered at less than 1.5x Gross

Cap Rate ±15%

Cooke City, Montana

DEMOGRAPHIC LINKS AND INFORMATION hp://beartoothhighway.com/ hp://www.parkcounty.org/ hps://www.nps.gov/yell/index.htm hp://www.yellowstonecountry.org/what‐to‐do/scenic‐byways/ chief‐joseph‐scenic‐byway/ hp://www.cookecitychamber.org/

The informaon contained in the following Markeng Brochure is proprietary and strictly confidenal. It is intended to be reviewed only by the party receiving it from Associated Brokers/Mike Icardo Realty and should not be made available to any other person or enty without the wrien consent of Associated Brokers/Mike Icardo Realty. This Markeng Brochure has been prepared to provide summary, unverified infor‐ maon to prospecve purchasers, and to establish only a preliminary level of interest in the subject property. The informaon contained herein is not a substute for a thorough due diligence invesgaon. Associated Brokers/Mike Icardo Realty has not made any invesgaon, and makes no warranty or representaon, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminang sub‐ stances, PCB's or asbestos, the compliance with State and Federal regulaons, the physical condion of the improvements thereon, or the financial condion or business prospects of any tenant, or any tenant’s plans or intenons to con nue its occupancy of the subject property. The informaon contained in this Marke ng Brochure has been obtained from sources we believe to be reliable; however, Associated Bro‐ kers/Mike Icardo Realty has not verified, and will not verify, any of the informaon contained herein, nor has Associated Brokers/Mike Icardo Realty conducted any invesgaon regarding these maers and makes no warranty or representaon whatsoever regarding the accuracy or completeness of the informaon provided. All potenal buyers must take appropriate measures to verify all of the informaon set forth here‐ in.

Associated Brokers/Mike Icardo Realty is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee idenfied in this markeng package. The presence of any corporaon’s logo or name is not intended to indicate or imply affiliaon with, or sponsorship or endorsement by, said corporaon of Associated Brokers/Mike Icardo Realty, its affiliates or subsidiaries, or any agent, product, service, or commercial lisng of Associated Brokers/Mike Icardo Realty, and is solely included for the purpose of providing tenant lessee informaon about this lisng to prospecve customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR ASSOCIATED BROKERS AGENT FOR MORE DETAILS.

Contact ‐ Marc Wass, Licensed in Idaho and Montana

ID ‐ (208) 660‐6198 MT (406) 671‐6355 (Voice) Mike Icardo Realty [email protected]