Hotel-Motel
Motel 6 Springfield, IL
6011 S 6th St, Springfield, IL 62712
Listing Price: $4,295,000
Investment Overview
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Motel 6 Springfield (‘Hotel’ or ‘Property’) located in Springfield, Illinois. The G6 Hospitality -branded Hotel is offered at $4,295,000 or $42,525 per key.
The Motel 6 Springfield is a 101-room, three-story Hotel stationed at 6011 S 6th St in Springfield, Illinois, just off Interstate 55. Various common area amenities at the Property include a lobby sitting area, laundry facility, and ample parking for buses or large trucks.
Springfield, Illinois, the capital city of the state, is steeped in history and known for its significant role in American politics. It is most famous as the home of Abraham Lincoln, the 16th President of the United States. The city boasts numerous Lincoln-related historic sites, including the Abraham Lincoln Presidential Library and Museum, the Lincoln Home National Historic Site, and the Old State Capitol State Historic Site, which played a pivotal role in Lincoln's political career.The city's Route 66 heritage is celebrated at the Cozy Dog Drive In and the Route 66 Twin Drive-In Theater, offering glimpses into the iconic highway's past. Springfield also offers a wide range of dining experiences, from classic diners to upscale restaurants, serving local and international cuisine. Springfield's educational institutions, such as the University of Illinois Springfield, contribute to its dynamic and intellectual environment. Additionally, the city's parks and recreational areas, like Washington Park and Lake Springfield, offer opportunities for outdoor activities and relaxation. With its historical landmarks, cultural attractions, educational institutions, and outdoor spaces, Springfield provides a multifaceted experience for residents and visitors interested in exploring its rich history and vibrant culture.
Springfield has a large healthcare sector, which is a major employer in the area. The industry employs over 13,000 residents and includes Memorial Health System, St. John's Hospital, Hospital Sisters Health System, and Springfield Clinic. Additionally, the State of Illinois is also a large employer, with nearly 18,000 people working in government-related jobs.
In the trailing twelve-month period ending in August 2023, the Hotel recorded room revenues over $1.1 million and a net operating income just over $357 thousand, or 30.7 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. Twelve-month RevPAR in the Springfield/Decatur hotel submarket was up sharply as of September and climbed at a 15.0 percent year-over-year rate. That's stronger than the otherwise considerable 7.2 percent increase observed market wide. Additionally, the Springfield/Decatur area doesn't face supply-side pressures on occupancies or room rates in the near-term. 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.
Investment Highlights
- Three-Story, 101-Room, G6 Hospitality-Branded Hotel
- Located Less Than 2 Miles from University of Illinois Springfield and 7 Miles from Downtown Springfield
- Easily Accessible from Interstate 55 and 11 Miles from Abraham Lincoln Capital Airport
- TTM Aug 2023 Room Revenues Exceeded $1.1 Million while Maintaining a NOI Over $357,000
- Twelve-Month RevPAR in the Springfield/Decatur Hotel Submarket was up Sharply as of September, and Climbed at a 15.0 Percent Year-Over-Year Rate
- Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
Listing Price: $4,295,000
Investment Highlights
- Three-Story, 101-Room, G6 Hospitality-Branded Hotel
- Located Less Than 2 Miles from University of Illinois Springfield and 7 Miles from Downtown Springfield
- Easily Accessible from Interstate 55 and 11 Miles from Abraham Lincoln Capital Airport
- TTM Aug 2023 Room Revenues Exceeded $1.1 Million while Maintaining a NOI Over $357,000
- Twelve-Month RevPAR in the Springfield/Decatur Hotel Submarket was up Sharply as of September, and Climbed at a 15.0 Percent Year-Over-Year Rate
- Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
Investment Overview
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Motel 6 Springfield (‘Hotel’ or ‘Property’) located in Springfield, Illinois. The G6 Hospitality -branded Hotel is offered at $4,295,000 or $42,525 per key. The Motel 6 Springfield is a 101-room, three-story Hotel stationed at 6011 S 6th St in Springfield, Illinois, just off Interstate 55. Various common area amenities at the Property include a lobby sitting area, laundry facility, and ample parking for buses or large trucks. Springfield, Illinois, the capital city of the state, is steeped in history and known for its significant role in American politics. It is most famous as the home of Abraham Lincoln, the 16th President of the United States. The city boasts numerous Lincoln-related historic sites, including the Abraham Lincoln Presidential Library and Museum, the Lincoln Home National Historic Site, and the Old State Capitol State Historic Site, which played a pivotal role in Lincoln's political career.The city's Route 66 heritage is celebrated at the Cozy Dog Drive In and the Route 66 Twin Drive-In Theater, offering glimpses into the iconic highway's past. Springfield also offers a wide range of dining experiences, from classic diners to upscale restaurants, serving local and international cuisine. Springfield's educational institutions, such as the University of Illinois Springfield, contribute to its dynamic and intellectual environment. Additionally, the city's parks and recreational areas, like Washington Park and Lake Springfield, offer opportunities for outdoor activities and relaxation. With its historical landmarks, cultural attractions, educational institutions, and outdoor spaces, Springfield provides a multifaceted experience for residents and visitors interested in exploring its rich history and vibrant culture. Springfield has a large healthcare sector, which is a major employer in the area. The industry employs over 13,000 residents and includes Memorial Health System, St. John's Hospital, Hospital Sisters Health System, and Springfield Clinic. Additionally, the State of Illinois is also a large employer, with nearly 18,000 people working in government-related jobs. In the trailing twelve-month period ending in August 2023, the Hotel recorded room revenues over $1.1 million and a net operating income just over $357 thousand, or 30.7 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. Twelve-month RevPAR in the Springfield/Decatur hotel submarket was up sharply as of September and climbed at a 15.0 percent year-over-year rate. That's stronger than the otherwise considerable 7.2 percent increase observed market wide. Additionally, the Springfield/Decatur area doesn't face supply-side pressures on occupancies or room rates in the near-term. 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.

