Basics
- Date added: Added 4 months ago
- Category: Hotel
- Type: Limited Service
- Status: For Sale
- Guestrooms: 93
- Floors: 3
- Area, sq ft: 75953 sq ft
- Lot size, sq ft: 164221.2 sq ft
- Year built: 2003
- Price per sq ft: $98.75
- Price Per Key: $80,645
- Cap rate: 8.35
- NOI: 626,057
- Occupancy: 59.91
- Broker: Hotel Brokers of America
- Agent: Brian Brockman
- Agent Phone: 661-808-4998
- Agent Email: Deals@hbofamerica.com
- Website:: https://hotelbrokersinc.com/
Description
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Description:
Details
Property TypeHospitalitySubtypeHotelSquare Footage75,953Price/Sq Ft$98.75Cap Rate8.35%Occupancy59.91%NOI$626,057Keys93Year Built2003Stories3Lot Size (acres)3.77APNAPN: 011.07.26.0.00.008.000Marketing Description
Thank you for your interest in the 94-room Quality Inn and Suites strategically located near major cities, including Quincy, Illinois, and 2 hours North of St. Louis, Missouri.
Highlights & Location:
- Long term absentee ownership
- Prime location in the city
- This limited-service hotel has a fully operational bar and 4800 sq feet of meeting space.
- The hotel is currently underperforming the comp set running at an average occupancy of 59% at a $105 rate while the market is at 67% at $124 rate showing the upside with on-site management and operational optimizations.
- PIP estimated at $490k
Corporate Generators:
- General Mills
- BASF
- Watlow Electric Manufacturing Company
- Hannibal Regional Healthcare System
- Local Agriculture
Demand Generators:
- Mark Twain Boyhood Home and Museum
- Mark Twain Cave Complex
- Mississippi Riverfront
- Rockcliffe Mansion
- Hannibal Trolley Tours
- Molly Brown Birthplace and Museum
- Sawyer's Creek Fun Park
- Riverview Park
- Hannibal History Museum
- Hannibal Arts Council Gallery
LOAN & FINANCING:
This hotel will qualify for a USDA, SBA 7A, SBA 504 loan with 20% down. H3O Capital with Hotel Brokers of America will be able to connect a new buyer with a direct lender directly.Missouri Broker of Record:
Brian Brockman
Bor@bangrealty.com
MO DRE 2017032771Bang Realty-Missouri Inc
Investment Highlights
Highlights & Location:
- Long term absentee ownership
- Prime location in the city
- This limited-service hotel has a fully operational bar and 4800 sq feet of meeting space.
- The hotel is currently underperforming the comp set running at an average occupancy of 59% at a $105 rate while the market is at 67% at $124 rate showing the upside with on-site management and operational optimizations.
- PIP on file and estimated at $750k