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Available For Sale - Hospitality

65,239 SF | Show Pricing $

AVAILABILITY DETAILS

Size
65,239 SF
Price/SF
Show Pricing $
Listing ID
SA438987
Notes
NAI Capital is pleased to offer for sale the fee simple interest in the 151-key Clarion Inn located in Elk City, OK. Built in 1978, the building consists of 65,239 SF and is situated on 8.6 acres. The guest room mix consists of single kings and double doubles and the property offers a restaurant, bar and conference/event rooms.



https://www.choicehotels.com/okl...



SELLER FINANCING IS AVAILABLE!



This is a great owner operator opportunity to acquire a gem property with an established business and to improve the current operations. Potential buyers have the opportunity to create value through a renovation and repositioning of the asset, currently under an out of state absentee ownership. The hotel is being offered unencumbered by management, which will be an advantage to new operator investment groups to have maximum control over the day to day operations, aggressively control costs and implement a more effective management strategy.



The December 2019 competitive data shows Occupancy of 48.0%, ADR of $74.44 and RevPAR of $35.73. The competitive RevPar indicates a potential for his asset to generate over $1.9M in annual revenues.



The property is situated on a large 8.6 acre parcel. With the RV industry booming, this is a potential opportunity to utilize the additional land as a RV park for additional revenues. A new owner can capitalize on the Interstate 40 location with a starting point in California and runs through Arizona, New Mexico, Texas, Arkansas, Tennessee and North Carolina. This offers an ideal central point for RV travelers going across the coast.



The Clarion Inn brand is a member of the Choice Hotels International chain of hotels. A new owner can continue with the current brand but has the flexibility of re-branding per the current franchise agreement.



https://choicehotelsdevelopment....

Uses
Hospitality

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Steve Liu, NAI Capital
BRE# 01323150