900 Miners Ave, Lead, SD 57754

Auctions: 11:00 AM 3/29/2019 Nominal Opening Bid: Sells to the highest bidder at auction above the opening bid of $644,000. Full service hotel approximately 65,000+/-sf built in 1989 on 2.17+/- ac with 75 double rooms and 15 suites on five floors including large commercial kitchen, lounge and meeting spaces on the main floor. Common areas throughout first floor with several amenity options. Completed rooms finished to new construction standards. In 2014 updates and remodeling began in the fourth and fifth floor of which 25 hotel rooms have been converted into 15 luxury suites at 90% complete on the fifth floor and the renovations on the fourth floor are in the beginning state of construction with most of this to the bare studs. Property was originally built to accommodate a wide variety of meetings, regional conventions and special events while providing a convenient, central location for tourists and visitors to enjoy the many sights and natural beauty in the Black Hills. Located halfway between Terry Peak and Deadwood, the property is only 32 minutes from Sturgis, which holds annually the largest motorcycle rally since 1938. With frontage on Alt US Highway 14 and US Highway 85, the property can easily reach the historic downtown of Deadwood 9 minutes away, as well as reach Mt Rushmore and Rapid City airport within an hour. The Sanford Lab Homestake Visitor Center is less than a mile away--originally an open cut goldmine with tunnels under city, now neutrino lab. New owners, marketing, management, and focus are needed now to meet the increased, unmet, new demand for reasonably priced, quality hotel rooms for tourism as well as for those created by the Sanford Underground Research Facility expansion in the next 24-36 months. A recent housing study commissioned by the Deadwood/Lead Economic Development Corporation estimates shortages for all housing categories and is available for review by interested parties. Note: A Buyer's Premium (Buyer's Fee in WI) will apply for this property. Please see Terms of Sale for details. Broker Licenses: SD Philip Heiliger RE LIC 17570; Williams & Williams Mrktg Srvcs, Inc. RE LIC 12782; Cody Lowderman AUC LIC RE 17883