Hotel-Motel

Quality Inn & Suites and Baymont Inn & Suites

2050 Market St, Reno, NV 89502

Listing Price: $14,000,000

Cap Rate
7.85%
Number of Rooms
203
RevPAR
$54
Gross SF
57,102
Price/Room
$68,966
RRM
3.75
Price/Gross SF
$245.18
Year Built
1977

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Quality Inn & Suites and Baymont Inn & Suites located in Reno, Nevada, minutes to several casinos, attractions and employers. The hotels are 4-story, interior corridor properties that sit on one parcel across the freeway from Reno-Tahoe International Airport. Both properties provide amenities including a fitness center, business center, complimentary breakfast buffet and guest laundry facilities, with a shared one-bedroom one-bathroom managers unit and seasonal outdoor pool.

The Quality Inn & Suites and Baymont Inn & Suites represents the opportunity to acquire two franchised hotels in a stable market supported by both leisure and business demand. Our Pro Forma analysis assumes an investor will increase operating efficiencies through management upside. The hotels have been renovated with new boilers, redone parking lot and redone pool. The Baymont Inn & Suites exterior was recently repainted and the hotel is currently in the process of getting a new roof. We estimate the PIPs for each property to be a maximum of $5,000 per room. Once the PIPs are completed, an additional estimated $10-$15 ADR can be achieved. Upon acquisition in December 2019, both properties received a new 20-year franchise renewal.

Investment Highlights

  • Currently Undergoing Renovations
  • Management Upside | Absentee Owner
  • 1 Mile to Reno-Tahoe International Airport | 4.4M+ Passengers in 2019
  • 2 Miles to University of Nevada Reno | 21k+ Current Enrollment
  • 2 Miles to Three Medical Centers
  • Leisure Demand: 4.8M+ Visitors to the Area in 2019 | ~$5B in Annual Gaming Revenue

Exclusively Listed By

Hotel-Motel

Quality Inn & Suites and Baymont Inn & Suites

Listing Price: $14,000,000

Cap Rate
7.85%
Number of Rooms
203
RevPAR
$54
Gross SF
57,102
Price/Room
$68,966
RRM
3.75
Price/Gross SF
$245.18
Year Built
1977

Investment Highlights

  • Currently Undergoing Renovations
  • Management Upside | Absentee Owner
  • 1 Mile to Reno-Tahoe International Airport | 4.4M+ Passengers in 2019
  • 2 Miles to University of Nevada Reno | 21k+ Current Enrollment
  • 2 Miles to Three Medical Centers
  • Leisure Demand: 4.8M+ Visitors to the Area in 2019 | ~$5B in Annual Gaming Revenue

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Quality Inn & Suites and Baymont Inn & Suites located in Reno, Nevada, minutes to several casinos, attractions and employers. The hotels are 4-story, interior corridor properties that sit on one parcel across the freeway from Reno-Tahoe International Airport. Both properties provide amenities including a fitness center, business center, complimentary breakfast buffet and guest laundry facilities, with a shared one-bedroom one-bathroom managers unit and seasonal outdoor pool.

The Quality Inn & Suites and Baymont Inn & Suites represents the opportunity to acquire two franchised hotels in a stable market supported by both leisure and business demand. Our Pro Forma analysis assumes an investor will increase operating efficiencies through management upside. The hotels have been renovated with new boilers, redone parking lot and redone pool. The Baymont Inn & Suites exterior was recently repainted and the hotel is currently in the process of getting a new roof. We estimate the PIPs for each property to be a maximum of $5,000 per room. Once the PIPs are completed, an additional estimated $10-$15 ADR can be achieved. Upon acquisition in December 2019, both properties received a new 20-year franchise renewal.

Exclusively Listed By

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