685 Main St
Deadwood, SD 57732
Hickok's Hotel & Gaming · Hospitality Property For Sale · 19,524 SF
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PROPERTY FACTS
AMENITIES
- Restaurant
- On-Site Retail
- High Speed Internet Access
- Patio
- On-Site Bar
- On-Site Casino
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
ABOUT 685 MAIN ST , DEADWOOD, SD 57732
Hickok’s Hotel & Casino occupies a premier location on historic Main Street in Deadwood, South Dakota. Originally built in 1898 the current building was completely remodeled and renovated in the early part of the 1990’s when Deadwood brought gambling back to Deadwood. Today, Hickok’s has a fully licensed and operating casino on the street level with state of the art slot machines with the capability to provide other games of chance such as keno, roulette, blackjack, poker, and craps. Hickok’s currently utilizes a professional third party operator for the gambling machines while retaining the option to bring the operation in-house at specified later dates. On the upper floors are 22 spacious and unique hotel rooms each decorated in elegant Victorian décor. Historical occupancy rates for the May through September summer season are extremely high and the hotel part of the business has enjoyed constantly increasing room rentals from 2016 through 2018. Hickok’s Hotel sits on one corner of Deadwood’s primary intersection. The main entrance is on historic Main Street and is adjacent to the under construction Outlaw Square. In development for almost a decade the new Square will provide a primary, central gathering place for locals and tourists that had not previously existed. Slated to be completed by Labor Day in 2019 (Con_file_B_HH) (Con_file_B_Denver) the Square will host concerts, special events and provide a wide range of family oriented activities throughout the year as well as a wide green space and pavilion. Similar multi-use facilities have been extremely successful for other towns and it’s a safe bet that Outlaw Square will be a huge addition to Deadwood. The current Outlaw Square design (OS_design_final) calls for a total reconstruction of the Street which runs along one side of Hickok’s Hotel and Gaming. Pedestrian traffic is heavy through this main intersection and Hickok’s will be in the center of all the action and will profit from the increased foot traffic. On the side opposite the Outlaw Square is the newly remodeled Harley Davidson retail store. Finished in 2017 the Harley Store has an interior passage between the retail store and Hickok’s Hotel casino floor. Since the retail store opened, and with some creative cross marketing between the two businesses, foot traffic and sales have increased dramatically for both entities. The hilly topography of the area and historic essence of downtown Deadwood makes the entire town very walkable and pedestrian friendly. From the primary intersection occupied by Hickok’s Hotel it is an easy walk to all of downtown. This includes the historic railroad station, Adam’s Museum, brothel museum, as well as the many downtown restaurants and businesses. Hickok’s Hotel & Gaming is a boutique hotel with 22 rooms. There is a profitable main floor casino and the business has a full liquor license, restaurant, and banquet facilities. Access to the new Outlaw Square is out one door and an inside passage provides access to the Harley retail store. Stepping out the front door puts you on historic Main Street, right in the center of all the action. Hickok’s Hotel had a new roof installed in 2018 and all mechanical systems for the entire building are new since 1992. The room fit and furnishings are from the Victorian era and of high quality. The current owners have been diligent with upkeep, maintenance, and repairs so few capital expenditures should be necessary for a new owner. Management is stable and highly professional and Hickok’s is known locally as having the best location in Deadwood with the best pizza. 2016-2018 EBITDA yearly average yields a 10% cap rate for the $4.8M purchase price.
PROPERTY TAXES
Parcel Number | 30025-01800-075-00 | Improvements Assessment | $3,159,520 |
Land Assessment | $363,880 | Total Assessment | $3,523,400 |
ZONING
Zoning Code | Commercial |
Listing ID: 3624310
Date on Market: 9/23/2016
Last Updated:
Address: 685 Main St, Deadwood, SD 57732
The Hospitality Property at 685 Main St, Deadwood, SD 57732 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.