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 The Historic Olive Hotel

~Established in 1899, The Olive offers good cash flow in a Historic Package~

Property Overview :  The Olive Hotel was built in 1899 and originally known as the Leighton Hotel.  In 1908 Albert W. Kinney acquired the Hotel and named the "Olive" after his daughter.  The Hotel was expanded and eventually included a Motel portion with additional rooms across the street.  Total Gross revenues from July 1, 2008 to May 25, 2009 were in excess of $400,000 which included income from apartment rentals, hotel overnight and weekly, motel overnight and weekly, gaming (video poker), Live Poker, ATM, vending, lounge sales (alcohol), and  restaurant rental.  (P&L statement is available to qualified purchasers)  The Hotel has been modernized and updated.  

The Olive Hotel:  The Olive Hotel includes 19 apartments with 100% occupancy and 20 hotel rooms, all beverage liquor license and lounge, commercial kitchen and dining room, (leased to "Mexico Lindo" the only mexican restaurant in town) poker room, and historic  lobby.  Total Square Footage of the Hotel is +/- 55,428.  Price is $595,000

Quick Facts:    Olive Hotel

  • -Olive Hotel is +/- 55,428 sq ft

  • -Olive includes 19 apartments with 100% occupancy 

  • -Olive has 20 hotel rooms including historic "Olive" room

  • -Olive is updated and modernized

  • -Olive includes all beverage liquor license and lounge

  • -Commercial kitchen and dining room leased to Mexico Lindo

  • -Excellent income from gaming, poker, alcohol sales, rentals, and hotel rooms

  • -11-month Gross income of +/- $314,000

  • -$595,000

  • -Download additional pictures and information

  • -Contact Steve Krutzfeldt @ 406-580-4207 for P&L and showings

The Motel Building:  The motel building consists of +/- 16,464 square feet and is located across the street west of the Olive Hotel.  It has 34 Units which generated +/- $59,784 gross income from July 1, 2008 to May 25, 2009.  This building could be converted into efficiency or larger apartments which are in demand in Miles City.  $269,000

Quick Facts:    Olive Motel Building

  • -+/- 16,464 sq ft

  • -34 Units,  Good addition to the Hotel or potential apartments

  • -11 month gross income of $59,784+/- 

  • --Price-$269,000

  • -Contact Steve Krutzfeldt @ 406-580-4207

The "Coke" Building:  +/- 20,160 sq feet.  This building is located on the block to the west of the hotel.  Originally used as a bottling facility for Coke, the building offers substantial space for storage.  Ideal for any business or entity that requires drive in and out capability with large bays at both ends of the building.  $159,000.

Contact:  Please contact Steve Krutzfeldt  at 406-580-4207 to schedule a showing. This is an exclusive listing of SK Realty, Inc. and an agent of SK Realty, Inc. must be present for all showings. 

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Offering is subject to errors, omissions, withdrawal, previous offers, and approval of purchase by owner.  All efforts have been made to insure the accuracy of the details though any potential buyer is advised to seek independent counsel as to the character of the property. Property is subject to price change, withdrawal, and approval of purchase by the owner. Property is being conveyed and buyer is accepting in its current "as is" condition