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Hotel-Motel

Knights Inn Flint

2324 Austins Pkwy, Flint, MI 48507

Listing Price: $3,100,000

Cap Rate
17.79%
Number of Rooms
108
RevPAR
$33
Price/Room
$28,704
RRM
2.27
Year Built
1985

Investment Overview

Marcus & Millichaps National Hospitality Group is pleased to announce the exclusive listing of the Knights Inn Flint. Located in close proximity to Flints Bishop International Airport, Interstate 75, and Interstate 69, this hotel is perfectly positioned to serve travelers in the Flint metro. Offering direct flights to eight destinations on three different airlines, Bishop International Airport serves as a major demand generator for the Flint region through serving over 600,000 travelers annually.

Regarding operations, this asset produced a 2020 occupancy of 71.69 percent, despite the Covid-19 pandemic. This high occupancy level is up from 60.42 percent in 2019, leading to a RevPAR of $32.95 in 2020, compared to $25.38 in 2019. In 2020, this asset also brought in $1,367,228 in revenue, resulting in an NOI of $551,609.

Listed at $3,100,000, this asset presents investors the opportunity to acquire an upward-trending hospitality property, benefit from competitive pricing, and utilize hands-on revenue management strategies to increase ADR growth. This property is well-positioned geographically and allows investors to purchase a well-maintained limited-service asset that will likely benefit from a projected uptick in tourism.

Investment Highlights

  • 17.79% Cap Rate
  • 2.27 Room Revenue Multiplier
  • 2020 NOI of $551,609

Exclusively Listed By

Listing Price: $3,100,000

Cap Rate
17.79%
Number of Rooms
108
RevPAR
$33
Price/Room
$28,704
RRM
2.27
Year Built
1985

Investment Highlights

  • 17.79% Cap Rate
  • 2.27 Room Revenue Multiplier
  • 2020 NOI of $551,609

Investment Overview

Marcus & Millichaps National Hospitality Group is pleased to announce the exclusive listing of the Knights Inn Flint. Located in close proximity to Flints Bishop International Airport, Interstate 75, and Interstate 69, this hotel is perfectly positioned to serve travelers in the Flint metro. Offering direct flights to eight destinations on three different airlines, Bishop International Airport serves as a major demand generator for the Flint region through serving over 600,000 travelers annually.

Regarding operations, this asset produced a 2020 occupancy of 71.69 percent, despite the Covid-19 pandemic. This high occupancy level is up from 60.42 percent in 2019, leading to a RevPAR of $32.95 in 2020, compared to $25.38 in 2019. In 2020, this asset also brought in $1,367,228 in revenue, resulting in an NOI of $551,609.

Listed at $3,100,000, this asset presents investors the opportunity to acquire an upward-trending hospitality property, benefit from competitive pricing, and utilize hands-on revenue management strategies to increase ADR growth. This property is well-positioned geographically and allows investors to purchase a well-maintained limited-service asset that will likely benefit from a projected uptick in tourism.

Exclusively Listed By

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