Skip to main content

Hotel-Motel

Rodeway Inn Cozad

809 S Meridian Ave, Cozad, NE 69130

Listing Price: $1,700,000

Cap Rate
8.50%
Number of Rooms
47
RevPAR
$23
Price/Room
$36,170
RRM
4.37
Year Built
1996

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 Rodeway Inn Cozad (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $1,700,000 or $36,170 per key. The Rodeway Inn Cozad is a 47-room, interior-corridor, economy Hotel located at 809 S Meridian Avenue, just off Interstate 80. The Property is approximately 19,500 square feet across two floors and has various amenities including an exercise room, laundry facilities, picnic area, and sundry shop. Current ownership has pridefully maintained the limited-service Hotel, investing nearly $150 thousand in Property improvements including new roofing, new LED lights, 25 new AC units, a new Rodeway Inn sign, new table lamps, and new carpet in all guest rooms, breakfast rooms, and hallways. Cozad is a city in Dawson County and positioned on the Great Plains of Central Nebraska central region of Nebraska. The Hotel is ideally positioned off Interstate 80, the city’s major thoroughfare, providing accessibility to east/west 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 health care and retail trade. Cozad Community Health Center and Paulsen Incorporated, two of the city’s largest employers, located approximately two miles from the Hotel, are prime revenue drivers for the surrounding area. Revenue generators in the area, like the Robert Henri Museum, 100th Meridian Museum, Sod House Museum, Dawson County Museum, Johnson Lake State Recreation Area, and Gallagher Canyon State Recreation Area help bring additional revenue to the Hotel through an increase in transient business. The limited-service Hotel recorded room revenues over $388 thousand in 2021 and a net operating income of over $144,500, or 36.5 percent of total revenues after a 4 percent reserve for capital replacement. In the same period, RevPAR was recorded at just $22.62, leading to a RevPAR penetration index of only 45 percent compared to the STR-defined competitive set. An experienced owner-operator can expect to significantly increase revenues through revenue management strategies and market penetration tactics.

Investment Highlights

  • Two-Story, 47-Room, Economy Hotel
  • Nearly $150 Thousand of Property Improvements Completed in 2020-2021
  • Priced Below Replacement Cost at $36,170 Per Key
  • Strategic Interstate Highway Position Offering Superb Visibility and Accessibility
  • Excellent Opportunity to Implement Strategic Marketing and Operational Strategies to Increase Performance and Cash Flow

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) NE: 20200223

    Nebraska

Hotel-Motel

Rodeway Inn Cozad

Listing Price: $1,700,000

Cap Rate
8.50%
Number of Rooms
47
RevPAR
$23
Price/Room
$36,170
RRM
4.37
Year Built
1996

Investment Highlights

  • Two-Story, 47-Room, Economy Hotel
  • Nearly $150 Thousand of Property Improvements Completed in 2020-2021
  • Priced Below Replacement Cost at $36,170 Per Key
  • Strategic Interstate Highway Position Offering Superb Visibility and Accessibility
  • Excellent Opportunity to Implement Strategic Marketing and Operational Strategies to Increase Performance and Cash Flow

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 Rodeway Inn Cozad (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $1,700,000 or $36,170 per key. The Rodeway Inn Cozad is a 47-room, interior-corridor, economy Hotel located at 809 S Meridian Avenue, just off Interstate 80. The Property is approximately 19,500 square feet across two floors and has various amenities including an exercise room, laundry facilities, picnic area, and sundry shop. Current ownership has pridefully maintained the limited-service Hotel, investing nearly $150 thousand in Property improvements including new roofing, new LED lights, 25 new AC units, a new Rodeway Inn sign, new table lamps, and new carpet in all guest rooms, breakfast rooms, and hallways. Cozad is a city in Dawson County and positioned on the Great Plains of Central Nebraska central region of Nebraska. The Hotel is ideally positioned off Interstate 80, the city’s major thoroughfare, providing accessibility to east/west 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 health care and retail trade. Cozad Community Health Center and Paulsen Incorporated, two of the city’s largest employers, located approximately two miles from the Hotel, are prime revenue drivers for the surrounding area. Revenue generators in the area, like the Robert Henri Museum, 100th Meridian Museum, Sod House Museum, Dawson County Museum, Johnson Lake State Recreation Area, and Gallagher Canyon State Recreation Area help bring additional revenue to the Hotel through an increase in transient business. The limited-service Hotel recorded room revenues over $388 thousand in 2021 and a net operating income of over $144,500, or 36.5 percent of total revenues after a 4 percent reserve for capital replacement. In the same period, RevPAR was recorded at just $22.62, leading to a RevPAR penetration index of only 45 percent compared to the STR-defined competitive set. An experienced owner-operator can expect to significantly increase revenues through revenue management strategies and market penetration tactics.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): NE: 20200223

    Nebraska

MM Texture Background
MM Textured Background Lower