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Hotel-Motel

Rodeway Inn Fort Smith I-40

6001 Rogers Ave, Fort Smith, AR 72903

Listing Price: $2,900,000

Cap Rate
9.54%
Number of Rooms
100
RevPAR
$23
Price/Room
$29,000
RRM
3.46
Year Built
1965

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 Rodeway Inn Fort Smith I-40 (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $2,900,000 or $29,000 per key. The Rodeway Inn Fort Smith I-40 is a 100-room, two-story economy Hotel, well-equipped with an outdoor pool and laundry facilities. The limited-service Hotel is positioned at 6001 Rogers Avenue in Fort Smith, Arkansas, just off Interstate 540 and Highway 22. Fort Smith, Arkansas is located in the western part of the state bordering Oklahoma. The city is near the junction of Interstates 40 and 540, and ?ve miles from Van Buren, 47 miles from Arkansas’ wine country, and 63 miles from Fayetteville. There are three casinos within a 20-minute drive from the Hotel and each offers year-round private and business events, gaming, dining, and center stage performers. Fort Smith is a regional manufacturing center, and there are also several of these notable businesses within the region that is near the hotel including Rheem Manufacturing (3.9 miles), Baldor Electric Company (5.6 miles), Trane Company (4.9 miles), ArcBest Corporation (2.5 miles), Georgia - Paci?c (6.2 miles), Planters Peanuts (5.6 miles), OK Foods (4.0 miles), Dillon Manufacturing (4.5 miles), McCourt Manufacturing (3.5 miles), and Gerber Products Company (6.6 miles) to note a few. The region also has a well-known military presence and is home to the Ebbing Air National Guard Base (3.5 miles), the Arkansas Air National Guard's 188th Wing, which is a remotely piloted aircraft and intelligence base. Healthcare and educational institutions also have a presence in the region, which includes the University of Arkansas Fort Smith (2.1 miles), Mercy Hospital (1.4 miles), and Spark Health Systems (1.3 miles) which was recorded as the largest employer. Leisure attractions for travelers are also the Fort Smith National Historic Site (4.2 miles), Central Mall (0.8 miles), and Ben Geren Regional Park (4.8 miles). On the outskirts of the Property is the Fort Smith Regional Airport (2.1 miles) which is also used as a public use joint civil-military airport. Operationally, the subject property achieved room revenues of over $838 thousand through 2021. A major renovation would present a substantial value add opportunity and assist new ownership significantly in garnering real rate growth, not only driving RevPAR but also increasing bottom-line savings.

Investment Highlights

  • 100-room Rodeway Inn Located in a Strong Commercial Hub just 4 Miles West of Downtown Fort Smith, Arkansas
  • Surrounded By an Abundance of Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities
  • Value-Add Opportunity to Undergo a Major Renovation and Increase Performance and Cash Flow
  • Nearby demand drivers include University of Arkansas Fort Smith, Mercy Hospital, Spark Health Systems, Fort Smith National Historic Site, Central Mall, Ben Geren Regional Park, and Fort Smith Regional Airport

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s) AR: PB00066390

    Arkansas

Hotel-Motel

Rodeway Inn Fort Smith I-40

Listing Price: $2,900,000

Cap Rate
9.54%
Number of Rooms
100
RevPAR
$23
Price/Room
$29,000
RRM
3.46
Year Built
1965

Investment Highlights

  • 100-room Rodeway Inn Located in a Strong Commercial Hub just 4 Miles West of Downtown Fort Smith, Arkansas
  • Surrounded By an Abundance of Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities
  • Value-Add Opportunity to Undergo a Major Renovation and Increase Performance and Cash Flow
  • Nearby demand drivers include University of Arkansas Fort Smith, Mercy Hospital, Spark Health Systems, Fort Smith National Historic Site, Central Mall, Ben Geren Regional Park, and Fort Smith Regional Airport

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 Rodeway Inn Fort Smith I-40 (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $2,900,000 or $29,000 per key. The Rodeway Inn Fort Smith I-40 is a 100-room, two-story economy Hotel, well-equipped with an outdoor pool and laundry facilities. The limited-service Hotel is positioned at 6001 Rogers Avenue in Fort Smith, Arkansas, just off Interstate 540 and Highway 22. Fort Smith, Arkansas is located in the western part of the state bordering Oklahoma. The city is near the junction of Interstates 40 and 540, and ?ve miles from Van Buren, 47 miles from Arkansas’ wine country, and 63 miles from Fayetteville. There are three casinos within a 20-minute drive from the Hotel and each offers year-round private and business events, gaming, dining, and center stage performers. Fort Smith is a regional manufacturing center, and there are also several of these notable businesses within the region that is near the hotel including Rheem Manufacturing (3.9 miles), Baldor Electric Company (5.6 miles), Trane Company (4.9 miles), ArcBest Corporation (2.5 miles), Georgia - Paci?c (6.2 miles), Planters Peanuts (5.6 miles), OK Foods (4.0 miles), Dillon Manufacturing (4.5 miles), McCourt Manufacturing (3.5 miles), and Gerber Products Company (6.6 miles) to note a few. The region also has a well-known military presence and is home to the Ebbing Air National Guard Base (3.5 miles), the Arkansas Air National Guard's 188th Wing, which is a remotely piloted aircraft and intelligence base. Healthcare and educational institutions also have a presence in the region, which includes the University of Arkansas Fort Smith (2.1 miles), Mercy Hospital (1.4 miles), and Spark Health Systems (1.3 miles) which was recorded as the largest employer. Leisure attractions for travelers are also the Fort Smith National Historic Site (4.2 miles), Central Mall (0.8 miles), and Ben Geren Regional Park (4.8 miles). On the outskirts of the Property is the Fort Smith Regional Airport (2.1 miles) which is also used as a public use joint civil-military airport. Operationally, the subject property achieved room revenues of over $838 thousand through 2021. A major renovation would present a substantial value add opportunity and assist new ownership significantly in garnering real rate growth, not only driving RevPAR but also increasing bottom-line savings.

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s): AR: PB00066390

    Arkansas

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