Hotel-Motel
OYO Silver Spur Burns Hwy 20
789 N Broadway Ave, Burns, OR 97720
Listing Price: $1,200,000
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 OYO Silver Spur Burns Hwy 20 (‘Hotel’ or ‘Property’) located in Burns, Oregon. The OYO Hotels-branded Hotel is offered at $1,200,000 or $46,154 per key. The OYO Silver Spur Burns Hwy 20 is a 26-room, two-story Hotel stationed at 789 N Broadway Ave in Burns, Oregon, just off State Highway 20. Various common area amenities at the Property include a breakfast area, lobby sitting area, and an outdoor patio. Burns is in the high desert region of Eastern Oregon and the county seat of Harney County, located about 3 miles northeast of Hines and 30 miles north of the Malheur National Wildlife Refuge. Surrounded by natural beauty, the city is filled with outdoor recreation opportunities and rich history. One of the more popular attractions in the area is Steens Mountain, a stunning mountain range that offers scenic drives, hiking trails, and opportunities for birdwatching. Just north of there is the Diamond Craters Outstanding Natural Area, a sprawling 17,000 acres of the most diverse basaltic volcanic formations in the nation, which features a beautiful hike through its unique craters, cinder cones, lava tubes, and more. The Harney County Historical Museum exhibits the region’s history, including its Native American roots and early settlers. In fact, the city is adjacent to the Burns Paiute Indian Reservation, a group of Native Americans indigenous to the region. Fishing and boating in the Malheur River and birdwatching at the Hart Mountain National Antelope Refuge are also popular activities for visitors. The town also hosts the annual Harney County Fair and Rodeo, which draws large crowds and provides a fun, family-friendly event for both visitors and locals alike. In the trailing twelve-month period ending in October 2022, the limited-service Hotel recorded room revenues of over $355 thousand and a net operating income just over $162 thousand, or 45.6 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.
OYO Silver Spur Burns Hwy 20
Investment Highlights
- Two-Story, 26-Room OYO Hotels-Branded Hotel
- Priced at an Attractive 3.38 Room Revenue Multiplier and 13.5 Percent Cap Rate for $46,154 Per Key
- Easily Accessible and Highly Visible from the Intersection of State Highway 20
- Located Less Than 3 Miles from Hines and 30 Miles from the Malheur National Wildlife Refuge
- Situated Near a Wide Varity of Outdoor Activities, Landmarks, and Natural Attractions
- TTM October 2022 Revenues over $355 Thousand while maintaining an NOI Greater than $162 Thousand
- Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
Listing Price: $1,200,000
Investment Highlights
- Two-Story, 26-Room OYO Hotels-Branded Hotel
- Priced at an Attractive 3.38 Room Revenue Multiplier and 13.5 Percent Cap Rate for $46,154 Per Key
- Easily Accessible and Highly Visible from the Intersection of State Highway 20
- Located Less Than 3 Miles from Hines and 30 Miles from the Malheur National Wildlife Refuge
- Situated Near a Wide Varity of Outdoor Activities, Landmarks, and Natural Attractions
- TTM October 2022 Revenues over $355 Thousand while maintaining an NOI Greater than $162 Thousand
- Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
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 OYO Silver Spur Burns Hwy 20 (‘Hotel’ or ‘Property’) located in Burns, Oregon. The OYO Hotels-branded Hotel is offered at $1,200,000 or $46,154 per key. The OYO Silver Spur Burns Hwy 20 is a 26-room, two-story Hotel stationed at 789 N Broadway Ave in Burns, Oregon, just off State Highway 20. Various common area amenities at the Property include a breakfast area, lobby sitting area, and an outdoor patio. Burns is in the high desert region of Eastern Oregon and the county seat of Harney County, located about 3 miles northeast of Hines and 30 miles north of the Malheur National Wildlife Refuge. Surrounded by natural beauty, the city is filled with outdoor recreation opportunities and rich history. One of the more popular attractions in the area is Steens Mountain, a stunning mountain range that offers scenic drives, hiking trails, and opportunities for birdwatching. Just north of there is the Diamond Craters Outstanding Natural Area, a sprawling 17,000 acres of the most diverse basaltic volcanic formations in the nation, which features a beautiful hike through its unique craters, cinder cones, lava tubes, and more. The Harney County Historical Museum exhibits the region’s history, including its Native American roots and early settlers. In fact, the city is adjacent to the Burns Paiute Indian Reservation, a group of Native Americans indigenous to the region. Fishing and boating in the Malheur River and birdwatching at the Hart Mountain National Antelope Refuge are also popular activities for visitors. The town also hosts the annual Harney County Fair and Rodeo, which draws large crowds and provides a fun, family-friendly event for both visitors and locals alike. In the trailing twelve-month period ending in October 2022, the limited-service Hotel recorded room revenues of over $355 thousand and a net operating income just over $162 thousand, or 45.6 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.
