Hotel-Motel

Candlewood Suites Muskogee

1601 N 32nd St, Muskogee, OK 74401

Listing Price: Request For Offer

Number of Rooms
67
RevPAR
$43
Gross SF
10,679
Year Built
2016

Investment Overview

Marcus & Millichaps National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Candlewood Suites Muskogee. The InterContinental Hotels Group-branded hotel is priced on a Call for Offers basis. A recently converted property, constructed in 2016, is located along North 32nd Street, one mile from Saint Francis Hospital Muskogee.

This three-story, 67-room hotel presents a new owner the opportunity to acquire a value-add asset 50 miles southeast of Tulsa in a high transient centric market. An investor, looking to act as an owner-operator, can furthermore maximize profits through a reduction in management costs for the property. The hotel is well-equipped with a fitness center, business center, and meeting room.

Operationally, the hotel is projected to achieve $1,048,741 in room revenue, resulting in a net operating income of approximately 31.4 percent of total revenue; this translates to about $329,118 before debt service. With added focus on increasing the hotels operational efficiency, a new owner can see an additional boost in hotel performance and an increase in the hotels EBITDA. The property RevPAR has further upside potential through rate escalation due to recent hotel conversion.

The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.

Investment Highlights

  • 67-Room, Interior Corridor, Midscale Hotel Built in 2016
  • Closest Franchised Extended-Stay Hotel to St. Francis Hospital Muskogee
  • Well Positioned with Excellent Visibility from 32nd Street
  • Operational Upside for Prospective Hands-On Owner-Operator Investor
  • Upside Potential Through Implementation of Strategic Cost Control
  • Recently Converted to Candlewood Suites June 2020

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    License(s): OK: 181981

    Oklahoma

Hotel-Motel

Candlewood Suites Muskogee

Listing Price: Request For Offer

Number of Rooms
67
RevPAR
$43
Gross SF
10,679
Year Built
2016

Investment Highlights

  • 67-Room, Interior Corridor, Midscale Hotel Built in 2016
  • Closest Franchised Extended-Stay Hotel to St. Francis Hospital Muskogee
  • Well Positioned with Excellent Visibility from 32nd Street
  • Operational Upside for Prospective Hands-On Owner-Operator Investor
  • Upside Potential Through Implementation of Strategic Cost Control
  • Recently Converted to Candlewood Suites June 2020

Investment Overview

Marcus & Millichaps National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Candlewood Suites Muskogee. The InterContinental Hotels Group-branded hotel is priced on a Call for Offers basis. A recently converted property, constructed in 2016, is located along North 32nd Street, one mile from Saint Francis Hospital Muskogee.

This three-story, 67-room hotel presents a new owner the opportunity to acquire a value-add asset 50 miles southeast of Tulsa in a high transient centric market. An investor, looking to act as an owner-operator, can furthermore maximize profits through a reduction in management costs for the property. The hotel is well-equipped with a fitness center, business center, and meeting room.

Operationally, the hotel is projected to achieve $1,048,741 in room revenue, resulting in a net operating income of approximately 31.4 percent of total revenue; this translates to about $329,118 before debt service. With added focus on increasing the hotels operational efficiency, a new owner can see an additional boost in hotel performance and an increase in the hotels EBITDA. The property RevPAR has further upside potential through rate escalation due to recent hotel conversion.

The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    License(s): OK: 181981

    Oklahoma

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