Updated Jan 7, 2026
Marcus & Millichap Sells 60-Room Super 8 Hotel In Spearfish South Dakota For $2.4M
440 Heritage Drive
$2,400,000
Building Size
—
Asset Type
Hotel
Closing
Jan 7, 2026
About this deal
AI
A 60-room Super 8 hotel located at 440 Heritage Drive in Spearfish, SD, has been sold for $2,400,000. The hotel was built in 1977 and is situated on 2.03 acres near I-90. It is conveniently positioned close to attractions such as Spearfish Canyon, Mount Rushmore, and Deadwood.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $2,400,000
- Keys: 60
- Price Per Key: $40,000
- Date of Sale: 01/07/2026
The transaction was managed by brokers Jon Ruzicka, Joseph Ferguson, and Reed Gizinski from Marcus & Millichap, representing the seller in this deal.
On the Map
$2,400,000
Hotel
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Spearfish Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93