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Hotel-Motel

Comfort Inn & Suites Black River Falls I-94

n6295 Holiday Dr, Black River Falls, WI 54615

Listing Price: $5,495,000

Cap Rate
10.28%
Number of Rooms
75
RevPAR
$62
Price/Room
$73,267
RRM
3.23
Year Built
1997

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 Comfort Inn & Suites Black River Falls I-94 (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $5,495,000 or $73,267 per key. The Comfort Inn & Suites Black River Falls I-94 is located at N 6295 Holiday Dr in Black River Falls, Wisconsin, just off the intersection of Highway 54 and Interstate 94. The 75-room, interior-corridor, two-story building, was built in 1997 and stretches 6.76 acres. With approximately 45,000 square-feet between two floors, the Property maintains a plethora of common area amenities including an indoor pool with a hot tub, fitness room, business center, bus parking, game machines, three meeting rooms, and banquet space. The meeting rooms have a combined 2800 square-feet between the Cranberry Room (400 sq ft), Oaks Room (1200 sq ft), and Pines Room (1200 sq ft). Black River Falls, the county seat of Jackson County, was founded around the city’s namesake: the falls of the Black River. This area lies in the west-central region of Wisconsin, stretching across the northeast edge of the area where the river cuts through a region of granite, also known as the Driftless Area. Despite the smaller population, the city boasts a strong economy that’s anchored mostly by agriculture, tourism, logging, and lumber. The top employers within or adjacent to these market sectors include D and S Manufacturing (1.2 miles), Land O’Lakes Animal Milk Plant (0.9 miles), and Nelson Global Products (1.0 miles). Other major employers include Black River Memorial Hospital (2.7 miles) and Regal Beloit Corporation (0.9 miles), both of which still play important roles in the city’s economy. The tourist sector of the economy is upheld largely by the region’s primary demand generators which include Schaick Photo Gallery Museum, Jackson Co History Museum, Historical Murals, Skyline Golf Course, Majestic Pines Casino, Jackson County Farmers Market, Bear Bogging Adventure Tours, Lake Arbutus for Fishing and Water Sports, and Ho-Chuck Gaming. In 2021, the Hotel recorded a RevPAR of $62.20, a 15 percent increase from 2019’s RevPAR and a 130 percent RevPAR penetration index (RPI). The Hotel has consistently outperformed the STR-defined competitive set, averaging 152 percent RPI since 2018. Operationally, 2021 room revenues were listed at over $1.7 million and net operating income was just under $565 thousand or 32.2 percent of gross revenues, after a four percent capital replacement reserve.

Investment Highlights

  • Two-Story, 75-Room, Upper-Midscale, Choice Hotels International Branded Hotel
  • Priced at an Attractive 3.23 Room Revenue Multiplier and 10.3 Percent Cap Rate at $73,267 per Key
  • Highly Visible and Easily Accessible from Interstate 94 and Highway 54
  • Property Located Just 1.7 Miles from Black River Falls Airport and 3.7 Miles from Ho-Chunk Gaming Black River Falls
  • Surrounded by Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities
  • Less than Three Miles from Black River Memorial Hospital, Land O'Lakes Animal Milk Plant, D and S Manufacturing, Regal Beloit Corporation, and Nelson Global Products
  • 2021 RevPAR Penetration Index of 130 Percent and Four-Year RPI Average of 152 Percent (2018-2021)

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Hotel-Motel

Comfort Inn & Suites Black River Falls I-94

Listing Price: $5,495,000

Cap Rate
10.28%
Number of Rooms
75
RevPAR
$62
Price/Room
$73,267
RRM
3.23
Year Built
1997

Investment Highlights

  • Two-Story, 75-Room, Upper-Midscale, Choice Hotels International Branded Hotel
  • Priced at an Attractive 3.23 Room Revenue Multiplier and 10.3 Percent Cap Rate at $73,267 per Key
  • Highly Visible and Easily Accessible from Interstate 94 and Highway 54
  • Property Located Just 1.7 Miles from Black River Falls Airport and 3.7 Miles from Ho-Chunk Gaming Black River Falls
  • Surrounded by Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities
  • Less than Three Miles from Black River Memorial Hospital, Land O'Lakes Animal Milk Plant, D and S Manufacturing, Regal Beloit Corporation, and Nelson Global Products
  • 2021 RevPAR Penetration Index of 130 Percent and Four-Year RPI Average of 152 Percent (2018-2021)

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 Comfort Inn & Suites Black River Falls I-94 (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $5,495,000 or $73,267 per key. The Comfort Inn & Suites Black River Falls I-94 is located at N 6295 Holiday Dr in Black River Falls, Wisconsin, just off the intersection of Highway 54 and Interstate 94. The 75-room, interior-corridor, two-story building, was built in 1997 and stretches 6.76 acres. With approximately 45,000 square-feet between two floors, the Property maintains a plethora of common area amenities including an indoor pool with a hot tub, fitness room, business center, bus parking, game machines, three meeting rooms, and banquet space. The meeting rooms have a combined 2800 square-feet between the Cranberry Room (400 sq ft), Oaks Room (1200 sq ft), and Pines Room (1200 sq ft). Black River Falls, the county seat of Jackson County, was founded around the city’s namesake: the falls of the Black River. This area lies in the west-central region of Wisconsin, stretching across the northeast edge of the area where the river cuts through a region of granite, also known as the Driftless Area. Despite the smaller population, the city boasts a strong economy that’s anchored mostly by agriculture, tourism, logging, and lumber. The top employers within or adjacent to these market sectors include D and S Manufacturing (1.2 miles), Land O’Lakes Animal Milk Plant (0.9 miles), and Nelson Global Products (1.0 miles). Other major employers include Black River Memorial Hospital (2.7 miles) and Regal Beloit Corporation (0.9 miles), both of which still play important roles in the city’s economy. The tourist sector of the economy is upheld largely by the region’s primary demand generators which include Schaick Photo Gallery Museum, Jackson Co History Museum, Historical Murals, Skyline Golf Course, Majestic Pines Casino, Jackson County Farmers Market, Bear Bogging Adventure Tours, Lake Arbutus for Fishing and Water Sports, and Ho-Chuck Gaming. In 2021, the Hotel recorded a RevPAR of $62.20, a 15 percent increase from 2019’s RevPAR and a 130 percent RevPAR penetration index (RPI). The Hotel has consistently outperformed the STR-defined competitive set, averaging 152 percent RPI since 2018. Operationally, 2021 room revenues were listed at over $1.7 million and net operating income was just under $565 thousand or 32.2 percent of gross revenues, after a four percent capital replacement reserve.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

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