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Hotel-Motel

Comfort Suites Oshkosh

400 S Koeller St, Oshkosh, WI 54902

Listing Price: $6,395,000

Cap Rate
2.80%
Year Built
2008

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Group is pleased to present for sale to qualified investors the Comfort Suites Oshkosh. The Choice Hotels International branded hotel is offered at $6,395,000 or $79,938 per key. The hotel was built in 2008 on 1.88 acres and fully renovated in 2019. Situated off Interstate 41, the hotel is poised to capitalize on daily traffic counts exceeding 60,000. Located near many key demand generators, such as the Wittman Regional Airport, University of Wisconsin-Oshkosh, and Fox Valley Technical College, the hotel is perfectly positioned to take advantage of business and leisure travel in the market. Lake Winnebago attracts recreational travelers from all over for its shoreline concerts, fishing tournaments, powerboat events, pleasure boating rallies, windsurfing, sail runs, and ice racing. Corporate demand in the city of Oshkosh is anticipated to increase because of its expanding manufacturing industry. Oshkosh Defense recently won a contract to produce the next generation United States Postal Service mail trucks and is expected to manufacture between 50,000 and 165,000 new vehicles over the next decade. The hotel is two miles south of the new Oshkosh Corporation headquarters. Operationally, the property produced room revenues of over $1.5 million in 2019 during a renovation and with absentee ownership. Over the trailing 12-month period ending March 2021, the hotel achieved a RevPAR of $30.75; which equates to a 105 percent market RevPAR penetration index. Room revenues have increased approximately 26 percent over the trailing 12-month period ending March 2021 and net-operating income has improved by 11 percent over the same period. The Property is the newest built hotel amongst its STR-defined competitive set and currently ranks four out of six hotels in RevPAR. A significant investment opportunity exists for an experienced investor or owner-operator who can stabilize operations. Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered a fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • Fully-Renovated, Priced Below Replacement Cost at $79,938 per Key
  • Four-Story, Midscale All-Suite Hotel with 80-Rooms and Two Elevators
  • Built in 2008 and Recently Renovated in 2019
  • 26 Percent Increase in Room Revenues Over the Trailing 12-Month Period Ending March 2021
  • Ideal Asset for Hands-On Owner-Operator Looking to Maximize Operational Efficiency
  • Three Miles from Wittman Regional Airport and close to the University of Wisconsin-Oshkosh and Fox Valley Technical College
  • Anticipated to be a Minimal Transfer Fee

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s) WI: 56163-90

    Wisconsin

Hotel-Motel

Comfort Suites Oshkosh

Listing Price: $6,395,000

Cap Rate
2.80%
Year Built
2008

Investment Highlights

  • Fully-Renovated, Priced Below Replacement Cost at $79,938 per Key
  • Four-Story, Midscale All-Suite Hotel with 80-Rooms and Two Elevators
  • Built in 2008 and Recently Renovated in 2019
  • 26 Percent Increase in Room Revenues Over the Trailing 12-Month Period Ending March 2021
  • Ideal Asset for Hands-On Owner-Operator Looking to Maximize Operational Efficiency
  • Three Miles from Wittman Regional Airport and close to the University of Wisconsin-Oshkosh and Fox Valley Technical College
  • Anticipated to be a Minimal Transfer Fee

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Group is pleased to present for sale to qualified investors the Comfort Suites Oshkosh. The Choice Hotels International branded hotel is offered at $6,395,000 or $79,938 per key. The hotel was built in 2008 on 1.88 acres and fully renovated in 2019. Situated off Interstate 41, the hotel is poised to capitalize on daily traffic counts exceeding 60,000. Located near many key demand generators, such as the Wittman Regional Airport, University of Wisconsin-Oshkosh, and Fox Valley Technical College, the hotel is perfectly positioned to take advantage of business and leisure travel in the market. Lake Winnebago attracts recreational travelers from all over for its shoreline concerts, fishing tournaments, powerboat events, pleasure boating rallies, windsurfing, sail runs, and ice racing. Corporate demand in the city of Oshkosh is anticipated to increase because of its expanding manufacturing industry. Oshkosh Defense recently won a contract to produce the next generation United States Postal Service mail trucks and is expected to manufacture between 50,000 and 165,000 new vehicles over the next decade. The hotel is two miles south of the new Oshkosh Corporation headquarters. Operationally, the property produced room revenues of over $1.5 million in 2019 during a renovation and with absentee ownership. Over the trailing 12-month period ending March 2021, the hotel achieved a RevPAR of $30.75; which equates to a 105 percent market RevPAR penetration index. Room revenues have increased approximately 26 percent over the trailing 12-month period ending March 2021 and net-operating income has improved by 11 percent over the same period. The Property is the newest built hotel amongst its STR-defined competitive set and currently ranks four out of six hotels in RevPAR. A significant investment opportunity exists for an experienced investor or owner-operator who can stabilize operations. Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered a fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s): WI: 56163-90

    Wisconsin

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