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Hotel-Motel

Candlewood Suites Tulsa Oklahoma

10008 E 73rd St, Tulsa, OK 74133

Listing Price: Request For Offer

Number of Rooms
72
RevPAR
$48
Gross SF
54,014
Year Built
2004

Investment Overview

Marcus & Millichap, as an exclusive representative of the seller, is pleased to present for sale the Candlewood Suites Tulsa. The subject property is a 3-story 72-room, interior corridor hotel, with a lot size of 1.24 acres, built in 2004 off major thoroughfares Mingo Valley Expressway and E 71st St. The asset consists of studio suites, two-bed studio suites, and one-bedroom suites. All rooms are equipped with full-size fridges, stovetops, microwaves, dishwashers, and ample counter space. The area surrounding the property hosts a variety of demand generators including Saint Francis Hospital, Northeastern State University, and Tulsa Raceway Park. Prospective buyers have the opportunity to invest in an expanding market in Oklahoma while operating a robust extended stay brand business.

Investment Highlights

  • Tulsa's economy is on the cusp of becoming a national contender for sustainable wage companies and high-skill talent. Just this year, international companies like Tesla Products and Muncie Power knock
  • Currently encumbered by IHG's Candlewood Suites, the property maintains a strong historical reservation system with limited product in the area.
  • Operationally, the property has achieved an excess of revenue from pre-pandemic levels. In 2021, the hotel received $1,288,498 in gross revenue.
  • Opportunity to purchase and convert an operating premium branded extended stay hotel to multifamily, assisted living, or alternative asset.
  • The property currently maintains a strong reputation in the community with positive reviews in online travel agencies.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s) OK: 149994

    Oklahoma

Financing By

Hotel-Motel

Candlewood Suites Tulsa Oklahoma

Listing Price: Request For Offer

Number of Rooms
72
RevPAR
$48
Gross SF
54,014
Year Built
2004

Investment Highlights

  • Tulsa's economy is on the cusp of becoming a national contender for sustainable wage companies and high-skill talent. Just this year, international companies like Tesla Products and Muncie Power knock
  • Currently encumbered by IHG's Candlewood Suites, the property maintains a strong historical reservation system with limited product in the area.
  • Operationally, the property has achieved an excess of revenue from pre-pandemic levels. In 2021, the hotel received $1,288,498 in gross revenue.
  • Opportunity to purchase and convert an operating premium branded extended stay hotel to multifamily, assisted living, or alternative asset.
  • The property currently maintains a strong reputation in the community with positive reviews in online travel agencies.

Investment Overview

Marcus & Millichap, as an exclusive representative of the seller, is pleased to present for sale the Candlewood Suites Tulsa. The subject property is a 3-story 72-room, interior corridor hotel, with a lot size of 1.24 acres, built in 2004 off major thoroughfares Mingo Valley Expressway and E 71st St. The asset consists of studio suites, two-bed studio suites, and one-bedroom suites. All rooms are equipped with full-size fridges, stovetops, microwaves, dishwashers, and ample counter space. The area surrounding the property hosts a variety of demand generators including Saint Francis Hospital, Northeastern State University, and Tulsa Raceway Park. Prospective buyers have the opportunity to invest in an expanding market in Oklahoma while operating a robust extended stay brand business.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s): OK: 149994

    Oklahoma

Financing By

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