DenMill Cedar Lodge 302 N Main St
17 Room Hotel Melbourne, AR 72556 $399,000 ($23,471/Room)
INVESTMENT HIGHLIGHTS
- 17 Rooms and a Large Manager's Quarters
- Mostly Ground-Level Rooms
- Located 1.2 Miles from Ozarka College
- +/- 5,140 SF Spanning Across Two Buildings
- Significant Upgrades in Lobby & Rooms
- All Furniture (except the tools and antique buffet) is included
EXECUTIVE SUMMARY
Located in the heart of Downtown Melbourne, AR, DenMill Cedar Lodge presents a unique investment opportunity with 17 rooms and a spacious manager's quarters. The property currently features 4 rooms rented out long-term (2 as rentals and 2 to businesses), 11 rooms available for nightly rentals ($70/night for single bed or $80/night for double bed room), and 2 rooms currently unavailable - one serving as storage and the other cleared out for an unfinished coffee shop. Spanning +/- 5,140 SF across two buildings, the lodge offers mostly ground-level rooms with convenient parking right outside the entrances, ensuring ease of access for guests. With affordable housing scarce in Melbourne, the best use of the property may be long-term rentals. The current owners have invested in significant upgrades to both the lobby and rooms, including a complete update to the manager's quarters that now features a kitchen, a large bedroom big enough for 2 queen beds, and 2 full bathrooms. The lobby was also recently built out, having used to be a small 7'x9' room with a counter, now offering a more welcoming entrance to the hotel. Additionally, DenMill Cedar Lodge is located +/- 1.2 miles from Ozarka College, a technical college with an enrollment of +/- 1,000 students each semester, making it a prime choice for both visitors and residents seeking nearby accommodations.
Tools and antique buffet in the lobby are not included in the sale.
Tools and antique buffet in the lobby are not included in the sale.
PROPERTY FACTS
| Price | $399,000 |
| Price Per Room | $23,471 |
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 5,140 SF |
| No. Rooms | 17 |
| No. Stories | 2 |
| Year Built/Renovated | 1979/2023 |
| Parking Ratio | 3.89/1,000 SF |
| Corridor | Exterior |
AMENITIES
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 17 | $75.00 | - |
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PROPERTY TAXES
| Parcel Number | 485-00118-000 | Improvements Assessment | $36,000 |
| Land Assessment | $4,880 | Total Assessment | $40,880 |
ZONING
| Zoning Code | Multi Family, Motel (Multi Family, Motel) |
