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Hotel-Motel

Super 6 Cleveland

900 South Davis Avenue, Cleveland, MS 38732

Listing Price: $1,875,000

Cap Rate
8.11%
Number of Rooms
119
RevPAR
$13
Price/Room
$15,756
RRM
3.40
Year Built
1960

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 6 Inn and Suites Cleveland (‘Hotel’ or ‘Property’). The Hotel is offered at $1,875,000 or $15,756 per key. Cleveland, Mississippi is the heart of the Mississippi Delta, 124 miles north of Jackson, Mississippi and 115 miles south of Memphis, Tennessee. The Hotel sits on 5.43 acres just off Highway 61, which records over 18,000 vehicles per day. The Hotel's location provides easy access to various demand generators such as Delta State University (1.5 miles), Dockery Farms (6.8 miles), and the Grammy Museum – Mississippi (1.7 miles). The city is known as the birthplace blues music, which attracts thousands of blues enthusiasts for concerts and conventions each year. The Hotel currently operates at two-thirds capacity, allowing a new investor the ability to implement 40 additional rooms and further increase revenues and market penetration. During the twelve-months ending June 2021, the Hotel recorded room revenues above $552,000, which represents an increase of 15.81 percent from year-end 2019. In the same period, the Hotel managed a healthy EBITDA over 27.6 percent of total revenues, which translates to approximately $152,000 after a 4 percent capital replacement reserve.

Investment Highlights

  • Four-Buildings, Two-Stories, 119-Rooms, Independent Hotel Built on 5.43 Acres
  • Priced Below Replacement Cost at $15,756 Per Key
  • Value-Add Opportunity for an Owner Operator to Implement 40 Additional Rooms
  • Excellent Location Near a Variety of Business and Leisure Demand Generators
  • Revenues Trending Upwards by 15.81 Percent Compared to Year-End 2019

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Financing By

Listing Price: $1,875,000

Cap Rate
8.11%
Number of Rooms
119
RevPAR
$13
Price/Room
$15,756
RRM
3.40
Year Built
1960

Investment Highlights

  • Four-Buildings, Two-Stories, 119-Rooms, Independent Hotel Built on 5.43 Acres
  • Priced Below Replacement Cost at $15,756 Per Key
  • Value-Add Opportunity for an Owner Operator to Implement 40 Additional Rooms
  • Excellent Location Near a Variety of Business and Leisure Demand Generators
  • Revenues Trending Upwards by 15.81 Percent Compared to Year-End 2019

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 6 Inn and Suites Cleveland (‘Hotel’ or ‘Property’). The Hotel is offered at $1,875,000 or $15,756 per key. Cleveland, Mississippi is the heart of the Mississippi Delta, 124 miles north of Jackson, Mississippi and 115 miles south of Memphis, Tennessee. The Hotel sits on 5.43 acres just off Highway 61, which records over 18,000 vehicles per day. The Hotel's location provides easy access to various demand generators such as Delta State University (1.5 miles), Dockery Farms (6.8 miles), and the Grammy Museum – Mississippi (1.7 miles). The city is known as the birthplace blues music, which attracts thousands of blues enthusiasts for concerts and conventions each year. The Hotel currently operates at two-thirds capacity, allowing a new investor the ability to implement 40 additional rooms and further increase revenues and market penetration. During the twelve-months ending June 2021, the Hotel recorded room revenues above $552,000, which represents an increase of 15.81 percent from year-end 2019. In the same period, the Hotel managed a healthy EBITDA over 27.6 percent of total revenues, which translates to approximately $152,000 after a 4 percent capital replacement reserve.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

Financing By

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