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Hotel-Motel

Baymont by Wyndham Tulsa

9020 E 71st Street, Tulsa, OK 74133

Listing Price: $3,200,000

Cap Rate
8.62%
Number of Rooms
64
RevPAR
$31
Price/Room
$50,000
RRM
4.38
Year Built
1996

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 Baymont Tulsa (‘Hotel’ or ‘Property’) located in Tulsa, Oklahoma. The Wyndham-branded Hotel is offered at $3,200,000 or $50,000 per key. The Baymont Tulsa is a 64-room, three-story Hotel stationed at 9020 East 71st Street, just off U.S. Highway 169. Various common area amenities at the Property include a heated indoor pool, sundries market, and business center. Each guest room features flat-screen television, a work desk, and an ironing board. Tulsa, Oklahoma is located on the Arkansas River in northeast Oklahoma, about 100 miles east of Oklahoma City, Oklahoma and 180 miles from Wichita, Kansas and Springfield, Missouri. The Hotels proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy. The region is known for its energy, entertainment, and manufacturing industries and attracts over nine million visitors annually. Tulsa is home to one Fortune 1000 company, Dollar Thrifty Automotive Group (6.1 miles), and two Fortune 500 companies, Oneok (12.3 miles) and Williams Companies (4.5 miles). Entertainment demand drivers for the city include one of the top 50 fine arts museums in the U.S., Philbrook Museum of Art (10.2 miles), as well as the Gilcrease Museum (16.4 miles), the largest collection of art and artifacts from the American West. Additional room demand generators that provide entertainment for local tourist include the Woody Guthrie Center (12.2 miles), Tulsa Air and Space Museum & Planetarium (14 miles), and the Oklahoma Aquarium (7.8 miles). The Saint Francis Health System and QuickTrip, two of the city’s largest employers are located 3.7 miles and 5 miles from the Hotel, respectively and are prime revenue drivers for the surrounding area. Another major employer that is responsible for a significant portion of the workforce is American Airlines maintenance base. Located at the Tulsa International Airport (13.7 miles), American Airlines invested over $550 million throughout the last two years into its Tulsa location, adding over 600 new jobs in the area. In 2019, the limited-service Hotel recorded room revenues of over $582 thousand and a net operating income just below $179 thousand, or 30.7 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. RevPAR has continued to steadily increase year-over-year, increasing over 25 percent from 2019 through August 2021. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.

Investment Highlights

  • Three-Story, 64-Room, Interior-Corridor Hotel
  • Priced Below Replacement Cost at $50,000 Per Key
  • Located within the Tulsa MSA
  • Easily Accessible and Highly Visible from the U.S. Highway 169
  • Situated near Tulsa's Largest Employers and Highest Valued Businesses

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s) OK: 181981

    Oklahoma

Financing By

Hotel-Motel

Baymont by Wyndham Tulsa

Listing Price: $3,200,000

Cap Rate
8.62%
Number of Rooms
64
RevPAR
$31
Price/Room
$50,000
RRM
4.38
Year Built
1996

Investment Highlights

  • Three-Story, 64-Room, Interior-Corridor Hotel
  • Priced Below Replacement Cost at $50,000 Per Key
  • Located within the Tulsa MSA
  • Easily Accessible and Highly Visible from the U.S. Highway 169
  • Situated near Tulsa's Largest Employers and Highest Valued Businesses

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 Baymont Tulsa (‘Hotel’ or ‘Property’) located in Tulsa, Oklahoma. The Wyndham-branded Hotel is offered at $3,200,000 or $50,000 per key. The Baymont Tulsa is a 64-room, three-story Hotel stationed at 9020 East 71st Street, just off U.S. Highway 169. Various common area amenities at the Property include a heated indoor pool, sundries market, and business center. Each guest room features flat-screen television, a work desk, and an ironing board. Tulsa, Oklahoma is located on the Arkansas River in northeast Oklahoma, about 100 miles east of Oklahoma City, Oklahoma and 180 miles from Wichita, Kansas and Springfield, Missouri. The Hotels proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy. The region is known for its energy, entertainment, and manufacturing industries and attracts over nine million visitors annually. Tulsa is home to one Fortune 1000 company, Dollar Thrifty Automotive Group (6.1 miles), and two Fortune 500 companies, Oneok (12.3 miles) and Williams Companies (4.5 miles). Entertainment demand drivers for the city include one of the top 50 fine arts museums in the U.S., Philbrook Museum of Art (10.2 miles), as well as the Gilcrease Museum (16.4 miles), the largest collection of art and artifacts from the American West. Additional room demand generators that provide entertainment for local tourist include the Woody Guthrie Center (12.2 miles), Tulsa Air and Space Museum & Planetarium (14 miles), and the Oklahoma Aquarium (7.8 miles). The Saint Francis Health System and QuickTrip, two of the city’s largest employers are located 3.7 miles and 5 miles from the Hotel, respectively and are prime revenue drivers for the surrounding area. Another major employer that is responsible for a significant portion of the workforce is American Airlines maintenance base. Located at the Tulsa International Airport (13.7 miles), American Airlines invested over $550 million throughout the last two years into its Tulsa location, adding over 600 new jobs in the area. In 2019, the limited-service Hotel recorded room revenues of over $582 thousand and a net operating income just below $179 thousand, or 30.7 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. RevPAR has continued to steadily increase year-over-year, increasing over 25 percent from 2019 through August 2021. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s): OK: 181981

    Oklahoma

Financing By

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