2980 E Main St, Barstow, CA 92311

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Building Details:

• Year Built: 1973

This easily accessible 81 room apartment motel was built in 1973 and has been operating as an independent apartment hotel under the name of The Pennywise Inn. The building is approx. 23,000 sq.ft./ and is situated on a 1.48 acre lot. The construction is wood frame/stucco there are more than 81 parking places. The hotel is located immediately off The 40 Freeway and next to the entrance to the Marine Corps Logistics Base in Barstow. Currently the hotel is serving the needs of people who are renting rooms on a weekly/monthly basis with some rooms reserved for overnight guests. The Sellers report that of the 81 rooms, 45 are rented at the rate of $599 a month and the overnights have a rack rate of $40 for 1 person/1 bed, $45 for 2 persons/1 bed, $50 for 2 persons/2 beds, $55 for 3 persons/2 beds and $60 for 4 persons/2 beds. Guest laundry features 3 coin operated washers and dryers. Seller will also consider a lease with an option to purchase for buyers with excellent credit and substantial option money. Barstow is located mid way between Los Angeles and Las Vegas on both Interstate 15 and Interstate 40/. It is home to Fort Irwin U.S. Army base and the U.S. Marine Corps Logistics Base. The population in the immediate Barstow area is estimated to change from 35,433 to 38,730 resulting in a growth of 9% between the years 2005 and 2010. Over the same five year period, the population in the United States is estimated to grow by only 6% 2008 Estimated Population 10 Mile Radius 15 Mile Radius 20 Mile Radius Total Population 35,780 36,214 166,007 Workforce (age 25-64) 36.54% 38.03% 36.32% Civilian Employed (16+) 86.8% 86.8% 86.9% Median Age 31.96 yrs 32.13 yrs 31.99 yrs 2010 Estimates Total Population 38,730 41,206 43,732 Workforce (age 25-64) 49.4% 49.5% 49.6% Civilian Employed (16+) 87.7% 87.6% 87.7% Median Age 32.8 yrs 33.1 yrs 33.8 yrs