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Hotel-Motel

Super 8 Blackwell

1014 W Doolin Ave, Blackwell, OK 74631

Listing Price: $895,000

Cap Rate
8.22%
Number of Rooms
43
RevPAR
$22
Price/Room
$20,814
RRM
2.56
Year Built
1984

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 in Blackwell, Oklahoma (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $895,000 or $20,814 per key. The offering also includes a restaurant on-site, ran by a third party generating additional monthly income, and a one-bedroom manager’s apartment. The Super 8 Blackwell is a 43-room, two-story Hotel stationed off Highway 11, near Interstate 35 and Highway 177. The Hotel features breakfast area, lobby, bus/oversize truck parking and fitness center access. Specious guest rooms offer a microwave, refrigerator, television, coffee/tea maker, hair dryer and work desk. Blackwell, Oklahoma is located in the central-north region of the state, equidistant from Tulsa, Ok Oklahoma City, OK and Wichita, KS. With the city's popular room generators near the Property, this Hotel benefits from many key industries of the city. The region’s economy is supported by agricultural and fossil fuel operations. Leisure demand generators include Top of Oklahoma Museum (1.5 miles), Statue of Liberty monument (2.3 miles), and Kaw Lake (27.6 miles)- a popular hunting, fishing, and boating spot. The Hotel is conveniently located right across from the Walmart, walking distance to bank and restaurants. Although the Property is in good condition, a minor renovation would present a substantial value add opportunity and assist new ownership significantly in garnering real rate growth. In 2019, the limited-service Hotel recorded room revenues of over $274,900. RevPAR has continued to steadily increase year-over-year, averaging 26 percent from 2019 through October 2021. Focusing on increasing the Hotel’s operational efficiency, a new owner can see a significant boost in the Hotel’s performance, seeing a larger portion of both top-line revenues and operating income.

Investment Highlights

  • Two-Story, 43-Room, Interior-Corridor Hotel with On-Site Restaurant and Manager's Apartment
  • Priced Below Replacement Cost at $20,814 Per Key
  • Highly Visible and Easily Accessible from Highway 11, Near Interstate 35 and Highway 177
  • Steady Increase in RevPAR Year-Over-Year
  • Opportunity for New Investor to Capitalize on Expected Increase in RevPAR and Bottom-Line Revenues, Returning a Higher Yield on Investment
  • Seller Financing Available to Qualified Buyers with $250K Down Payment with Favorable Terms
  • The Asset includes the onsite restaurant, which is currently rented to a third party, and generates $18,000 per year in rental income.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s) OK: 181981

    Oklahoma

Financing By

Hotel-Motel

Super 8 Blackwell

Listing Price: $895,000

Cap Rate
8.22%
Number of Rooms
43
RevPAR
$22
Price/Room
$20,814
RRM
2.56
Year Built
1984

Investment Highlights

  • Two-Story, 43-Room, Interior-Corridor Hotel with On-Site Restaurant and Manager's Apartment
  • Priced Below Replacement Cost at $20,814 Per Key
  • Highly Visible and Easily Accessible from Highway 11, Near Interstate 35 and Highway 177
  • Steady Increase in RevPAR Year-Over-Year
  • Opportunity for New Investor to Capitalize on Expected Increase in RevPAR and Bottom-Line Revenues, Returning a Higher Yield on Investment
  • Seller Financing Available to Qualified Buyers with $250K Down Payment with Favorable Terms
  • The Asset includes the onsite restaurant, which is currently rented to a third party, and generates $18,000 per year in rental income.

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 in Blackwell, Oklahoma (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $895,000 or $20,814 per key. The offering also includes a restaurant on-site, ran by a third party generating additional monthly income, and a one-bedroom manager’s apartment. The Super 8 Blackwell is a 43-room, two-story Hotel stationed off Highway 11, near Interstate 35 and Highway 177. The Hotel features breakfast area, lobby, bus/oversize truck parking and fitness center access. Specious guest rooms offer a microwave, refrigerator, television, coffee/tea maker, hair dryer and work desk. Blackwell, Oklahoma is located in the central-north region of the state, equidistant from Tulsa, Ok Oklahoma City, OK and Wichita, KS. With the city's popular room generators near the Property, this Hotel benefits from many key industries of the city. The region’s economy is supported by agricultural and fossil fuel operations. Leisure demand generators include Top of Oklahoma Museum (1.5 miles), Statue of Liberty monument (2.3 miles), and Kaw Lake (27.6 miles)- a popular hunting, fishing, and boating spot. The Hotel is conveniently located right across from the Walmart, walking distance to bank and restaurants. Although the Property is in good condition, a minor renovation would present a substantial value add opportunity and assist new ownership significantly in garnering real rate growth. In 2019, the limited-service Hotel recorded room revenues of over $274,900. RevPAR has continued to steadily increase year-over-year, averaging 26 percent from 2019 through October 2021. Focusing on increasing the Hotel’s operational efficiency, a new owner can see a significant boost in the Hotel’s performance, seeing a larger portion of both top-line revenues and operating income.

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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