$2,800,000
$2,950,000
5.1%For more information regarding the value of a property, please contact us for a free consultation.
72.78 Acres Lot
SOLD DATE : 10/28/2022
Key Details
Sold Price $2,800,000
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Sold
Purchase Type For Sale
Subdivision Red Canyon Lodge
MLS Listing ID 1748618
Sold Date 10/28/22
Construction Status Blt./Standing
HOA Y/N No
Year Built 1991
Annual Tax Amount $8,847
Lot Size 72.780 Acres
Acres 72.78
Lot Dimensions 0.0x0.0x0.0
Property Description
Don't miss this once in a lifetime opportunity to own the historic Red Canyon Lodge business in the Flaming Gorge National Recreation Area surrounded by the majestic Ashley National Forest. Red Canyon Lodge has been proudly serving forest visitors since 1930, offering public lodging, recreation, and dining. Located just minutes from the Green River, Flaming Gorge Reservoir, and the Red Canyon Overlook, it is a popular vacation spot for anglers, outdoor enthusiasts, hikers, bikers, hunters, and families. Flaming Gorge also lies in the direct travel path between Yellowstone National Park and Utah's Mighty 5 National Parks and it benefits from the global traffic of National Park visitors. Red Canyon Lodge has been meticulously cared for by the same owner for 30 years with great attention to detail and evident pride of ownership. It is situated on a 72.89 acre US Forest Service permit area that includes East Greens Lake, West Greens Lake and a kid's fishing pond. Lodge visitors can fish in the private stocked lakes and kid's pond without a Utah state fishing license since Red Canyon Lodge owns three priority water rights that allow for the operation of a private fee fishery. The main lodge building is home to the top-rated restaurant in the Flaming Gorge area making it a popular eatery for tourists and locals. The main lodge building also houses a grocery & gift store, a well-appointed kitchen, upstairs banquet room, and storage areas for housekeeping, restaurant and maintenance. Onsite employee housing is available year-round. Guest accommodations include 18 cabin units (6 Alpine Cabins and 6 Ponderosa duplex style cabins). The cabins are notable for their incredibly scenic setting. Guests can also visit the corral to enjoy horseback riding, take a paddle board or kayak out on one of the lakes or hit the trails for a hike or a mountain bike ride. A new owner can take advantage of immediate upside potential without adding cabins or amenities. Even with recent substantial cabin rate increases, demand for year-round occupancy continues to climb, suggesting there is upside potential for a new owner to continue increasing rates annually. Opportunities also exist for a new owner to increase revenue by adding more cabins while utilizing the existing utility infrastructure, increasing winter lodging availability, expanding restaurant hours and outdoor dining capacity, expanding outfitter guide operations and hosting more weddings or special events. Please contact us for the full Offering Memorandum and view the video attached to this listing. Any and all financial projections and information are provided for general reference purposes only and have been gathered from sources deemed reliable. Certain assumptions have been made related to the general economy, market conditions, competition and other factors beyond the control of the seller or Windermere Real Estate. Therefore, all projections and other information provided and made herein are provided as a courtesy.
Location
State UT
County Daggett
Area Dutch John; Greendale
Zoning Commercial
Interior
Interior Features Alarm: Fire, Dishwasher, Fireplace, Kitchen, Laundry: Central, Range/Oven, Refrigerator, Restroom: Private, Restroom: Public
Heating See Remarks, Electric, Propane, Space Heater, Baseboard, Wood Stove
Cooling See Remarks, Central Air, Window Unit(s)
Flooring Carpet, Laminate, Linoleum, Tile
Fireplace false
Window Features Blinds
Appliance Furniture, Supplies
Exterior
Exterior Feature Barn, Out Buildings, Corral(s), Rec. Facilities, Rv Parking, Security Lighting, Storage
Utilities Available 120/240 V 1 Phase, Gas: Propane
Waterfront No
View Y/N No
Roof Type See Remarks,Asphalt,Wood
Present Use Commercial
Accessibility See Remarks
Private Pool false
Building
Faces West
New Construction No
Construction Status Blt./Standing
Others
Senior Community No
Tax ID 03-0400-0043
Acceptable Financing Cash, Conventional
Horse Property Yes
Listing Terms Cash, Conventional
Financing Seller Financing
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Bought with NON-MLS