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Hotel-Motel

Days Inn by Wyndham Joplin

3500 S Rangeline Rd, Joplin, MO 64804

Listing Price: $4,750,000

Cap Rate
7.46%
Number of Rooms
106
RevPAR
$34
Price/Room
$44,811
RRM
3.59
Year Built
1986

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Days Inn Joplin (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $4,750,000 or $44,811 per key. The Days Inn Joplin is a 106-room, interior-corridor, economy Hotel located at 3500 South Rangeline Road Street, just off Interstate 44. The Property is approximately 51,300 square feet across two floors and has various amenities including an outdoor pool, banquet/event space, business center, and guest laundry facilities. Joplin, Missouri is the principal city for a 50-mile radius serving as the metropolitan center of the tri-state district, covering southeast Kansas, northeast Oklahoma, and southwest Missouri. The Days Inn Joplin is ideally positioned off South Rangeline Road, providing accessibility to north/south transient and business travelers. With the region’s employers and popular revenue generators near the Property, this sought-after Hotel benefits from many key industries of the city which include lead and zinc mining, manufacturing, logistics, and education. Freeman Health Systems and Tamko Building Products, two of the city’s largest employers, located approximately four miles from the Hotel, are prime revenue drivers for the surrounding area. Other major employers responsible for a significant portion of the workforce include Mercy Hospital, Eagle-Picher Technologies, Alorica, Contract Freighters Inc., General Mills, Schaeffler Group, Bemis Company, and Hampshire Pet Products. Additionally, Amazon announced a new distribution facility in Joplin, which will employ 300+ residents and increase room demand from business travel. Revenue generators in the area, like the Precious Moments Chapel, Downstream Casino, and George Washington Carver National Monument help bring additional revenue to the Hotel through an increase in transient business. The limited-service Hotel recorded room revenues of over $1.32 million in 2021, a significant 23 percent increase from 2019. Operationally, the Hotel maintained healthy cashflows with a pass-through net operating income of approximately 26.8 percent after a 4 percent capital replacement reserve, which equates to $354.5 thousand. The recently renovated Property is up to date with Wyndham’s Days Inn standards and offers minimal to no PIP for a new investor.

Investment Highlights

  • Two-Story, 106-Room, Economy, Wyndham-Branded Hotel
  • Priced Below Replacement Cost at $44,811 per Key
  • Located in a Strong Commercial Hub with Strategic Highway Position Offering Excellent Visibility
  • 2021 Room Revenues of Over $1.32 Million and RevPAR Penetration of 112 Percent
  • Recently Renovated and Up to Date with Wyndham's Brand Standards Offering Minimal or No PIP for a New Investor

Exclusively Listed By

Hotel-Motel

Days Inn by Wyndham Joplin

Listing Price: $4,750,000

Cap Rate
7.46%
Number of Rooms
106
RevPAR
$34
Price/Room
$44,811
RRM
3.59
Year Built
1986

Investment Highlights

  • Two-Story, 106-Room, Economy, Wyndham-Branded Hotel
  • Priced Below Replacement Cost at $44,811 per Key
  • Located in a Strong Commercial Hub with Strategic Highway Position Offering Excellent Visibility
  • 2021 Room Revenues of Over $1.32 Million and RevPAR Penetration of 112 Percent
  • Recently Renovated and Up to Date with Wyndham's Brand Standards Offering Minimal or No PIP for a New Investor

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Days Inn Joplin (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $4,750,000 or $44,811 per key. The Days Inn Joplin is a 106-room, interior-corridor, economy Hotel located at 3500 South Rangeline Road Street, just off Interstate 44. The Property is approximately 51,300 square feet across two floors and has various amenities including an outdoor pool, banquet/event space, business center, and guest laundry facilities. Joplin, Missouri is the principal city for a 50-mile radius serving as the metropolitan center of the tri-state district, covering southeast Kansas, northeast Oklahoma, and southwest Missouri. The Days Inn Joplin is ideally positioned off South Rangeline Road, providing accessibility to north/south transient and business travelers. With the region’s employers and popular revenue generators near the Property, this sought-after Hotel benefits from many key industries of the city which include lead and zinc mining, manufacturing, logistics, and education. Freeman Health Systems and Tamko Building Products, two of the city’s largest employers, located approximately four miles from the Hotel, are prime revenue drivers for the surrounding area. Other major employers responsible for a significant portion of the workforce include Mercy Hospital, Eagle-Picher Technologies, Alorica, Contract Freighters Inc., General Mills, Schaeffler Group, Bemis Company, and Hampshire Pet Products. Additionally, Amazon announced a new distribution facility in Joplin, which will employ 300+ residents and increase room demand from business travel. Revenue generators in the area, like the Precious Moments Chapel, Downstream Casino, and George Washington Carver National Monument help bring additional revenue to the Hotel through an increase in transient business. The limited-service Hotel recorded room revenues of over $1.32 million in 2021, a significant 23 percent increase from 2019. Operationally, the Hotel maintained healthy cashflows with a pass-through net operating income of approximately 26.8 percent after a 4 percent capital replacement reserve, which equates to $354.5 thousand. The recently renovated Property is up to date with Wyndham’s Days Inn standards and offers minimal to no PIP for a new investor.

Exclusively Listed By

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