The Property, a complete breakdown
The Mizpah property consists of 6 buildings and three parking lots, situated on 5 parcels with a total area
of 60,450 square feet or 1.387 acres. Approximately half of the total property area is parking.
· To Reno
The property is described by Assessor’s Parcel Number (APN) on the above shown map.
They are:
08-131-04 (lots 1 - 3), block “J”
08-132-01 (lots 1 - 4), right side of block “C”
08-132-02 (lots 5-9, part of 10), left side of block “C”
08-133-04 (lots 4,5, pt of 6), left side of block “B”
08-133-05 (lots 1 - 3), right side of block “B”
The buildings are:
Hotel
Hotel Annex
“Fun Palace”
Storage shed
Block building
Boiler building
Much of the following property information was acquired from a comprehensive report: Current
conditions and estimate of repairs, which was prepared on behalf of the owners by Creative Consulting in
December, 2002 and updated in February, 2003. Qualified parties with serious interest may obtain a copy of the
report from Trish Rippie Realty, Inc.
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Hotel building and Annex - APN 08-133-05; 5,100 sq. ft. unfinished basement under both buildings and a
4,608 sq. ft. paved parking area is located on the parcel..
Hotel/Casino building - 25,500 square feet
This is a five-story brick and granite constructed building, as
described earlier. 1,500 amp, 208 three phase electric service is provided
by Sierra Pacific Power Co. Water is supplied by Tonopah Public Utilities
with a 6-inch line at the meter.
The building is protected by wet sprinkler and fire alarm systems
which controls door closers, elevator fire recall and alternate fire recall.
Smoke detectors are located in each room and at elevator lobbies on each
floor. A stand-alone, enclosed fire escape/stairwell to the rear of the
building meets all life safety codes.
The passenger elevator runs from the basement to the top floor and was overhauled in the mid1990's; it was re-cabled and equipped with a new solid state controller and a new traction motor. The car
is the original 1907 Otis, upgraded to meet all safety standards. A freight elevator runs from the basement
to the sidewalk on the east side of the hotel.
The basement area contains housekeeping offices; electrical switchgear; 250
kw backup power generator (sufficient for the entire property); equipment for the
complex’s PABX telephone system; heating, cooling and domestic use water supply
pumps and related equipment; maintenance shops; secured liquor storage and wine
cellar; and laundry facilities more than sufficient to meet the needs of the property’s
lodging and food/beverage departments.
The hotel occupies the second through fifth floors and contains 41 guest rooms, 4
parlour rooms and two meeting rooms; with a maid’s closet and spacious, fittingly
furnished elevator lobby on each floor.
When stepping out of the elevator and into the hallway, guests
and visitors are greeted by the posh 19th century atmosphere which is
the signature decor of all of the Mizpah Hotel rooms.
The parlour rooms are equipped with phone,
television, full bath, thermostatically controlled heating &
cooling, several chairs, coffee table, divan and a wet bar.
They can be rented by themselves as hospitality suites or
informal conference rooms, or in conjunction with one or
both adjoined bedrooms as parlours. In a pinch, they can
be equipped with roll-away beds and used as sleeping
rooms.
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Guest rooms are available in several designs, starting
with small - yet comfortable single queen bed units for
those who will not be spending much time in their room.
All guest rooms are appointed with a phone, tv, chairs,
armoire (with writing desk) and individually controlled
heating and cooling.
Two somewhat larger rooms are available with
twin single beds and a view north and west to
the Great Smoky Valley.
A few, even larger rooms await the tired
travelers who’s only desire is to relax in
quiet comfort after a quiet drink and fine
dinner
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The three largest rooms are furnished with two queen
beds and a wet bar.
The bath facilities are included in the signature
Mizpah decor. Most tubs are original enameled
iron claw foot tubs, deep and luxurious - by
turn-of-the-century standards. All toilets are
period oak and brass finished pull-chain types.
This is one of two meeting rooms on the
hotel side. Each seats 15 people
comfortably at tables, or 25 in a more
informal arrangement for receptions and
the like. Each has toilet facilities and two
coat closets. one room is equipped with a
wet bar.
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Hotel annex - 11,750 square feet.
Although one would think that the Mizpah is one building, it is actually two.
Originally opened in 1904 for a bank and offices, the hotel annex building is named the
Brougher-Govan Block. The sprinkler, fire alarm, electrical, plumbing, heating/cooling
and telephone are common to both buildings. A detached, non-enclosed steel fire
escape to the rear is fire code compliant.
The first floor of this three-story
granite building holds the hotel front desk
and telephone switchboard in front, casino
public restrooms, Jack Dempsey Room in the
center and kitchen, dishwashing room and a
walk-in refrigerator and walk-in freezer to the
rear. 4,608 sq. ft. of paved parking lies next
to the building.
The second floor contains offices- including an executive office with
reception area, wet bar and private toilet; a spacious accounting office with two store rooms and internal cashiers
cage (for hotel and food/beverage shift change bank accounting out of the public view); copier room; employee change
rooms with lockers and showers and a security/surveillance office wired for the required casino, count room and vault
video observation and recording equipment.
A three-room suite overlooks Main street from the second floor, consisting of two large bedrooms (with private
baths) and a parlour room. This suite has most often been used as part of an incentive package for resident
managers or department heads, ie: salary plus room and board. The two bedrooms can also be used separately as
employee housing or rented out to guests during times of high occupancy, either individually or as a suite. The Parlour
is not suited for sleeping.
The third floor hosts yet another three room suite, as well as four additional guest rooms (one with a small
sitting room which overlooks Mount Oddie and the mining park) which historically have been used for employee lodging
and a maid’s or housekeeping room.
Also on the third floor is a mid-sized meeting room which seats 65 comfortably for meetings or 45 for meals
and an adjacent room for more intimate meetings or discussions of 6 or fewer.
Usage of the second and third floors of the annex building are constrained by ADA requirements as there is
no elevator.
The basement area under the annex primarily houses all kitchen dry storage and food preparation facilities.
It also accommodates a walk in refrigerator and a walk in freezer, neither of which currently operates and have been
most recently used for additional storage. The casino slot machine repair shop is also situated in this basement area.
Fun Palace - APN 08-133-04: This 10,500 square foot building once housed the town’s bowling alley. It was
refurbished in 1977 and used as the hotel’s casino and a coffee shop for three years before the casino was
relocated to it’s present place in the hotel. Subsequently it was remodeled for use as a youth center or “Fun
Palace”, dance hall and most effectively as convention
facilities.
A full service kitchen occupies the left rear corner of
the first floor, including a walk-in cooler and dishwashing
area, with the currently unfurnished dining area capable of
seating 40 people comfortably. An ADA-compliant public
restroom is situated near the front entrance.
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Upstairs was originally used as a bingo parlor. It now houses
an office, small conference room, restrooms and a large meeting
room which will seat 125 easily in meeting configuration or seat 85
comfortably for dinner. To the rear of the meeting room is a large
food and beverage service area and waitress station with private
stairs leading directly down to the kitchen. Public access to the
upper floor is by stairs at the front, there is no elevator, making
upstairs non-ADA compliant. The Bingo equipment is still in place.
An 825 square foot finished basement lies under the left 1/3
of the building with public restrooms, shoe shine booth and repair
shop in the front, the remainder of the basement area is used for maintenance and kitchen storage.
The right 2/3 of the Fun Palace is currently configured for
dancing and larger assemblies.
The room includes a 10 x 25 foot stage, an orchestra pit and
large railed dance or meeting area with a capacity for 225 sitting
or 180 dining. Three smaller rooms to the rear can be used for
offices or small conference rooms.
7A full service bar runs across the front of the main room
The building is supplied with sewer and water service
separately from the Hotel/Casino. Electric service was at one time
separate but the switchgear is out of code and the building is
currently supplied with 200 amp/208 volt 3-phase service via the hotel main panel. Telephone service is
provided via the hotel PABX system. No sprinkler system exists as none was required for a building of this
size.
“The building will require extensive repairs before it can be occupied: The roof leaks, primarily over the bar
area, which has caused a small portion of the flooring to collapse. A large window is missing in the second story
food service area and the large meeting room is ventilated by uncovered openings in the wall. A decision will
be required as to whether it will be more cost-effective to either refurbish or raze the building.”1
Points to consider when evaluating this parcel: Tonopah’s convention center is not large enough to
house all the conventions booked and buildings throughout town are often rented for additional space. The
Mizpah’s Fun Palace is the only property in town with facilities to accommodate two hundred or more people
for meetings and complete meal service, as well as stand-alone catering service to the convention center and
provide box lunches to the many sight-seeing tour busses that travel the vicinity.
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1
Source: Mizpah Hotel - A report on current conditions and repair estimates by Creative Consulting, January
2003 - page 9. A copy is available to qualified parties.
A full service bar runs across the front of the main room Boiler building and rear parking area - APN 08-13201: 1,400 square feet of paved and lighted parking area with 320 sq. ft boiler
building and a chiller plant. The building and boilers were installed in 1991 and the
boilers are undergoing complete overhauls and re-tubing as of this writing. The
chiller plant was installed in 1979, eliminating the need for individual guest room
air conditioning units.
Storage shed and parking - APN 08-132-02: .29 acres of paved parking and one
old 2,852 sq foot tin shed. The shed still contains some equipment and old
memorabilia but requires restoration, replacement or razing for additional
parking. The parcel surrounds a privately owned home on three sides.
Old stone building and parking - APN 08-131-04: 11,200 (±) lot with 2,190 sq. foot
stone building. This building served the area as a brewery for many years, having
been built for that purpose. Later, it was incorporated into the Mizpah property
and the interior was rebuilt as housing for employees.
“Currently the corrugated roof is partially missing and the interior is trashed. The
doors and windows have been secured and all utilities have been disconnected. The
foundations and walls are still sound and the building is of some historic value. It may be worth preserving in
a state of arrested decay until a decision is made as to its future.”2
Several casinos in the Las Vegas and Reno areas have taken advantage of the very popular microbrewery concept. This stone building could be restored as a charming and historical micro-brewery.
Financial facts and figures
The property is taxed at a combined rate of $3.64 per $100 of assessed value (the maximum allowable rate
under state law) for land and improvements (buildings), assessed value is 35% of the county Assessor’s
appraised value. Furnishings, equipment and “personal property” are not factored into county appraisals
or property tax assessments. The latest fee-simple appraisal determined a market value of between
$2,800,000 and $3,000,0003
Assessed evaluations and taxes:
APN
Description
08-131-04
Stone “brewery”/parking
08-132-01
Boiler building/parking
08-132-02
Tin shed/parking
08-133-04
Fun Palace
08-133-05
Hotel/casino/annex
TOTAL ASSESSED VALUATION=
TOTAL TAXES ASSESSED IN 2002=
COUNTY APPRAISED VALUE=
2
3
Ibid
Assessed value (in $)
16,502
33,136
35,412
60,333
207,963
$353,346.00
taxes paid in 2002 (in $)
632
1,240
1,330
2,300
7,800
$13,302.00
$1,009,560.00
16
Source: California Certified Appraisers, Burbank Calif. 6/30/2000
Listed price for this property:
$us 1,500,000.00
Financing:
The town’s sole bank; Nevada State Bank (a subsidiary of Zion Bancorp - Utah), can provide all banking
services related to a hotel/casino but traditionally does not finance casino construction or acquisitions.
Bank of America, NT&SA absorbed the former Valley National Bank of Nevada, which catered
extensively to Nevada’s Gaming/Hospitality interests. They, or numerous private and commercial lending
institutions, are the leading source of Hotel/Casino financing.
The property owners: Blackburne and Brown Mortgage Co., Inc. will provide financing on approved
credit up to $900,000.00 - at 9% interest amortized over 30 years - due in 5. Payments on these terms
would be approximately $7,242 per month.
Tax incentives:
Although the state of Nevada offers many tax and other incentives for business startups and
relocations, none apply specifically to gaming properties. Further information can be obtained by contacting:
Nevada State Commission on Economic Development
108 East Proctor Street
Carson City, NV 89701
www.bizopp.state.nv.us
(775) 687-4325
The Mizpah was at one time listed on the National Register of Historic Properties but was removed
by a previous owner. The National Register is managed by the National Park Service.
“Owners of properties listed in the National Register may be eligible for a 20% investment tax credit for
the certified rehabilitation of income-producing certified historic structures such as commercial,
industrial, or rental residential buildings. This credit can be combined with a straight-line depreciation
period of 27.5 years for residential property and 31.5 years for nonresidential property for the
depreciable basis of the rehabilitated building reduced by the amount of the tax credit claimed. Federal
tax deductions are also available for charitable contributions for conservation purposes of partial
interests in historically important land areas or structures.” 4
For more information contact:
Nevada State Historic Preservation Office
Attn: Alicia Baldrica
100 North Stewart Street
Carson City NV 89701-4285
(775) 684-3448
Or go to the NPS web site at: www.cr.nps.gov/nr/
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4
Source: National Historic Preservation Act of 1966, title 106