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Hotel-Motel

Super 8 Rice Lake

2401 South Main Street, Rice Lake, WI 54868

Listing Price: $1,595,000

Cap Rate
9.40%
Number of Rooms
46
RevPAR
$25
Price/Room
$34,674
RRM
3.73
Year Built
1985

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Super 8 Rice Lake (‘Hotel’ or ‘Property’). The Wyndham branded hotel is offered at $1,595,000 or $34,674 per key. Rice Lake is the largest community in Barron County and serves as a center for commerce, manufacturing, health, and educational services. The property is located off South Main Street, which runs through the heart of downtown Rice Lake and records over 15,000 cars per day: offering easy access to the variety of leisure and business demand in the area. Tourism can be accredited to the nature in the area; with over 1,000 acres of water nearby- fishing, hiking, and weddings bring a vast majority of visitors. Business demand is driven by Birchwood Manufacturing (1.9 miles), FG Products Incorporated (0.8 miles), Quanex Building Products (1.3 miles), and Marshfield Medical Center (3.8 miles). In 2019, the hotel produced room revenues above $464,500 and maintained a healthy net-operating income of 36.9 percent of total revenues, which translates to about $171,260. A new investor has the opportunity to implement better revenue management strategies to see an improvement in overall value. Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • 46-Room, Two-Story, Interior-Corridor Hotel Recently Renovated
  • Priced Below Replacement Cost at $34,674 per Key
  • Located in Downtown Rice Lake
  • Recorded a Healthy Net-Operating Income of 36.9 Percent of Total Revenues
  • Offered 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

Listing Price: $1,595,000

Cap Rate
9.40%
Number of Rooms
46
RevPAR
$25
Price/Room
$34,674
RRM
3.73
Year Built
1985

Investment Highlights

  • 46-Room, Two-Story, Interior-Corridor Hotel Recently Renovated
  • Priced Below Replacement Cost at $34,674 per Key
  • Located in Downtown Rice Lake
  • Recorded a Healthy Net-Operating Income of 36.9 Percent of Total Revenues
  • Offered Fee Simple, Unencumbered by a Management Contract or Debt

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Super 8 Rice Lake (‘Hotel’ or ‘Property’). The Wyndham branded hotel is offered at $1,595,000 or $34,674 per key. Rice Lake is the largest community in Barron County and serves as a center for commerce, manufacturing, health, and educational services. The property is located off South Main Street, which runs through the heart of downtown Rice Lake and records over 15,000 cars per day: offering easy access to the variety of leisure and business demand in the area. Tourism can be accredited to the nature in the area; with over 1,000 acres of water nearby- fishing, hiking, and weddings bring a vast majority of visitors. Business demand is driven by Birchwood Manufacturing (1.9 miles), FG Products Incorporated (0.8 miles), Quanex Building Products (1.3 miles), and Marshfield Medical Center (3.8 miles). In 2019, the hotel produced room revenues above $464,500 and maintained a healthy net-operating income of 36.9 percent of total revenues, which translates to about $171,260. A new investor has the opportunity to implement better revenue management strategies to see an improvement in overall value. Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered 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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