200 MILL ST RENO NV 89501

Lakemill Lodge at Reno, Nevada presents a rare opportunity to acquire a 125-key dual-building hospitality asset in one of Northern Nevada's most dynamic lodging markets. Featuring two independent structures with separate entrances and elevator systems, the property offers exceptional flexibility for dual-branding, phased renovations, segmented guest experiences, or alternative operating strategies.

Currently performing below market, this asset is ideally positioned for a value-add investor seeking to capitalize on Reno's ongoing evolution from a traditional gaming destination into a vibrant boutique and lifestyle corridor. Existing on-site amenities, including a ground-level bar and convenience store, provide immediate income with additional upside through repositioning and enhanced programming.

Located within a high-demand, experience-driven area with limited non-gaming lifestyle hotel supply, the property benefits from strong weekend, event-driven, and California drive-to demand. Comparable boutique and branded hotels in Reno demonstrate meaningful ADR and RevPAR upside, supporting a compelling renovation and repositioning thesis.

With in-place cash flow, operational flexibility, and strong market fundamentals, Lakemill Lodge offers investors the chance to create a differentiated hospitality destination with substantial revenue growth and long-term value creation.

Highlights

The Opportunity: A rare 125-key dual-building hospitality asset in the rapidly evolving Reno market 4 currently operating below market performance, creating a clear mark-to-market opportunity.

Property Structure: Two independent structures 4 Building A (75 keys) and Building B (50 keys) 4 each with separate entrances and elevator systems, enabling flexible operations, dual-branding, or phased repositioning.

Dual-Building: Rare independent configuration.