Sylo by Ramada Richfield

333 North Main Stree | Richield | Utah | 84701 Back to Properties


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Confidentiality Agreement

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All materials and information received or derived from Apex Commercial Real Estate, LLC. KW South Valley Keller Williams its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without

representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, develop-ability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Apex Commercial Real Estate, LLC. KW South Valley Keller Williams, its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such parties. Apex Commercial Real Estate, LLC. KW South Valley Keller Williams will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations, including through appropriate third-party independent professionals selected by such parties. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Apex Commercial Real Estate, LLC. KW South Valley Keller Williams makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Apex Commercial Real Estate, LLC. KW South Valley Keller Williams does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Apex Commercial Real Estate, LLC. KW South Valley Keller Williams in compliance with all applicable fair housing and equal opportunity laws.

Property Highlights

  • Sylo By Ramada Richfield Apex Commercial Real Estate | KW South Valley Keller Williams is pleased to solicit offers on The Sylo by Ramada Richfield, Utah. This property is a new brand by Ramada. The Sylo is a interior corridor 3 story, 51 room hotel, with an attached restaurant, sitting on 1.05 acreas with CG Zoning. The Sylo is a limited-service lodging facilities. These properties feature all basic services for a properties of this type, and offers amenities including a swimming pool and spa, fitness center, breakfast area, lounge, sundries shop, business center, meeting space, and vending and ice machines.

Property Details

  • Available SF: 45,738 SF
  • Price: $ 1,600,000
  • Transaction Type: Under Contract
  • Property Type: Hotel
  • Property Sub Type: Midscale
  • Building Size: 10,000 SF
  • Lot Size: 1.05 AC
  • Sale Type: Fee Simple
  • Building Class: B
  • Year Built: 1979
  • No. Stories: 3
  • Zoning Description: CG
  • Cross Streets: Main Street & 300 North
  • APN/Parcel ID 1-47-10
  • Availability: Under Contract

Property Description

Increasing Market Demand
The Sylo offers an increase market demand as COVID restrictions are easing up allowing tourist and recreational guests the opportunity to vacation and stay at hotels. With the recent conversion of these 51 rooms and rooms being on the market and potential guests feeling the need to explore and rid themselves of cabin fever there can only be one way to go and that is up.

Strong Revenue and Upside Potential
Once travel restrictions are eased, the number of rooms sold are expected to increase there is no base line to gauge numbers off of because the property was bought after the Days Inn had closed down. Room rates are also expected to increase due to higher demand, more travel, and the decrease in rooms available in the local market.

Unencumbered by Management
The property is being offered unencumbered by management, providing the new ownership group with full optionality, including new management.

Purchase, Conversion, and One of a kind Boutique
This is a property that was recently converted from a Days Inn. When the clients purchased the property the hotel had been closed completely for some time. When the current owners purchased this beautiful hotel they completely renovated and positioned it with a Ramada Flag. Then proceeded to have a new brand of Ramada created. They worked with Ramada to accommodate both of their needs and wants and the product came as SYLO. A never before type of boutique hotel.

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Property Amenities

  • Free WiFi
  • Pool
  • Complimentary Breakfast
  • Business Center
  • ADA Accessible
  • Full Service Restaurant

Financial Summary (Actual - )

Annual Annual Per SF
Gross Rental Income: - -
Other Income: - -
Vacancy Loss: - -
Effective Gross Income: - -
Net Operating Income: - -

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