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Hotel-Motel

Candlewood Suites Lincoln

4100 Pioneer Woods Dr, Lincoln, NE 68520

Listing Price: $7,600,000

Cap Rate
6.27%
Number of Rooms
85
RevPAR
$40
Gross SF
82,328
Price/Room
$89,412
RRM
6.09
Price/Gross SF
$92.31
Year Built
2006

Investment Overview

Property Attributes: The midscale Candlewood Suites Lincoln features 85 spacious guestrooms spread throughout four stories. The extended-stay Hotel was built in 2006 on 1.89 acres in Lincoln, Nebraska.
Recently Renovated: The Hotel ownership has pridefully maintained the property, investing more than $2 million in renovations from 2019 through 2020.

Minimal Anticipated Change of Ownership PIP: The Property has been well kept and the franchise may require a minimal transfer of ownership PIP, if any.

Prime Location: The Candlewood Suites Lincoln is located within the second-largest metropolitan statistical area (MSA) in Nebraska: Lincoln MSA. Located just over 10 miles from Lincoln Airport, the hotel enjoys a healthy mix of leisure and corporate business. Nearby demand generators in Lincoln, NE include the University of Nebraska, Duncan Aviation, Crete Carrier Corp, Ameritas Life Insurance, and Bryan Health.

Cash Flowing Asset: During 2019, the Hotel generated approximately $825K in net operating income, and $710K after provision for 4% FFE Reserves and 3% Management Fee. Despite Covid-19, the hotel maintained a positive cash flow in 2020, boasting net operating income over $475K after provision for FFE Reserves and Management Fee.

Excellent Market RevPAR Penetration: In 2020, the hotel outperformed the submarket in occupancy resulting in a RevPAR penetration index of 134 percent, and is positioned as a leading hotel amongst its STR defined competitive set.

Unencumbered Offering: The Hotel is offered fee simple, unencumbered by management or debt.

Investment Highlights

  • Four Story, 85-Room, Extended-Stay Candlewood Suites in Lincoln, Nebraska
  • Recent Renovations over $2 Million through 2019 and 2020
  • Outperforming the STR Comp Set RevPAR by 34% in 2020
  • Strong Historical Net Operating Income of 43.3% of GR in 2019 and 37.7% of GR in 2020
  • The Hotel is offered fee simple, unencumbered by management or debt
  • Minimal Change of Ownership PIP

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) NE: 20200223

    Nebraska

Listing Price: $7,600,000

Cap Rate
6.27%
Number of Rooms
85
RevPAR
$40
Gross SF
82,328
Price/Room
$89,412
RRM
6.09
Price/Gross SF
$92.31
Year Built
2006

Investment Highlights

  • Four Story, 85-Room, Extended-Stay Candlewood Suites in Lincoln, Nebraska
  • Recent Renovations over $2 Million through 2019 and 2020
  • Outperforming the STR Comp Set RevPAR by 34% in 2020
  • Strong Historical Net Operating Income of 43.3% of GR in 2019 and 37.7% of GR in 2020
  • The Hotel is offered fee simple, unencumbered by management or debt
  • Minimal Change of Ownership PIP

Investment Overview

Property Attributes: The midscale Candlewood Suites Lincoln features 85 spacious guestrooms spread throughout four stories. The extended-stay Hotel was built in 2006 on 1.89 acres in Lincoln, Nebraska.
Recently Renovated: The Hotel ownership has pridefully maintained the property, investing more than $2 million in renovations from 2019 through 2020.

Minimal Anticipated Change of Ownership PIP: The Property has been well kept and the franchise may require a minimal transfer of ownership PIP, if any.

Prime Location: The Candlewood Suites Lincoln is located within the second-largest metropolitan statistical area (MSA) in Nebraska: Lincoln MSA. Located just over 10 miles from Lincoln Airport, the hotel enjoys a healthy mix of leisure and corporate business. Nearby demand generators in Lincoln, NE include the University of Nebraska, Duncan Aviation, Crete Carrier Corp, Ameritas Life Insurance, and Bryan Health.

Cash Flowing Asset: During 2019, the Hotel generated approximately $825K in net operating income, and $710K after provision for 4% FFE Reserves and 3% Management Fee. Despite Covid-19, the hotel maintained a positive cash flow in 2020, boasting net operating income over $475K after provision for FFE Reserves and Management Fee.

Excellent Market RevPAR Penetration: In 2020, the hotel outperformed the submarket in occupancy resulting in a RevPAR penetration index of 134 percent, and is positioned as a leading hotel amongst its STR defined competitive set.

Unencumbered Offering: The Hotel is offered fee simple, unencumbered by management or debt.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): NE: 20200223

    Nebraska

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