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Hotel-Motel

Fortune Inn & Suites

901 AR-367, Newport, AR 72112

Listing Price: $2,300,000

Cap Rate
12.90%
Number of Rooms
58
RevPAR
$33
Gross SF
22,046
Price/Room
$39,655
Price/Gross SF
$104.33
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 58-unit, Fortune Inn & Suites, located in Newport, Arkansas. The subject property is located on 3-acres of land and features 2 floors of well-maintained guest rooms. Common area amenities include complimentary continental breakfast, 24-hour front desk, outdoor seasonal pool with lounge chairs, free on-site parking and a fitness center. Each guest room is equipped with a flat-screen TV with cable channels, microwave, refrigerator, hairdryer, iron & ironing board, and desk with chair. Newport is located in northeast Arkansas with close proximity to all regional demand generators. Visitors have access to larger metros including Little Rock, AR, located 84 miles southeast and Memphis, TN, located 90 miles south west of Newport. Attractions in the areas include Arkansas Rock & Rock Highway-67 Museum, Craighead Forest Park, and Forrest L Wood Crowley’s Ridge Nature Center. Other outdoor attractions in the area included the White River which runs through Arkansas and flows into the Mississippi River. Arkansas State University – Newport, 5.5 miles away, is a 2-year accredited university part of the Arkansas State University system. Less than 2 miles away, the Unity Health Newport is a 24-hour hospital with 133-bed and provides a variety of medical services. The closest airports to the area include the Jonesboro Municipal Airport, 44.5 miles away, or the Bill and Hilary Clinton National Airport in Little Rock, AR, located 90.5 miles away.

Investment Highlights

  • Fee simple interest in the 58-unit, Fortune Inn & Suites, located in Newport, Arkansas
  • Close proximity to restaurants & retail options
  • Unity Health Newport, 1.5 miles away, is a 133-bed hosptial with a 24-hour emergency center and a variety of medicla services
  • Larger Metros | Little Rock, Arkansas (84 miles) and Memphis, Tennessee (90 miles)

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s) AR: PB00066390

    Arkansas

Hotel-Motel

Fortune Inn & Suites

Listing Price: $2,300,000

Cap Rate
12.90%
Number of Rooms
58
RevPAR
$33
Gross SF
22,046
Price/Room
$39,655
Price/Gross SF
$104.33
Year Built
1980

Investment Highlights

  • Fee simple interest in the 58-unit, Fortune Inn & Suites, located in Newport, Arkansas
  • Close proximity to restaurants & retail options
  • Unity Health Newport, 1.5 miles away, is a 133-bed hosptial with a 24-hour emergency center and a variety of medicla services
  • Larger Metros | Little Rock, Arkansas (84 miles) and Memphis, Tennessee (90 miles)

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 58-unit, Fortune Inn & Suites, located in Newport, Arkansas. The subject property is located on 3-acres of land and features 2 floors of well-maintained guest rooms. Common area amenities include complimentary continental breakfast, 24-hour front desk, outdoor seasonal pool with lounge chairs, free on-site parking and a fitness center. Each guest room is equipped with a flat-screen TV with cable channels, microwave, refrigerator, hairdryer, iron & ironing board, and desk with chair. Newport is located in northeast Arkansas with close proximity to all regional demand generators. Visitors have access to larger metros including Little Rock, AR, located 84 miles southeast and Memphis, TN, located 90 miles south west of Newport. Attractions in the areas include Arkansas Rock & Rock Highway-67 Museum, Craighead Forest Park, and Forrest L Wood Crowley’s Ridge Nature Center. Other outdoor attractions in the area included the White River which runs through Arkansas and flows into the Mississippi River. Arkansas State University – Newport, 5.5 miles away, is a 2-year accredited university part of the Arkansas State University system. Less than 2 miles away, the Unity Health Newport is a 24-hour hospital with 133-bed and provides a variety of medical services. The closest airports to the area include the Jonesboro Municipal Airport, 44.5 miles away, or the Bill and Hilary Clinton National Airport in Little Rock, AR, located 90.5 miles away.

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s): AR: PB00066390

    Arkansas

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