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2204 Central Avenue - America's Best Value Inn, Hot Springs, AR

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2204 Central Avenue - America's Best Value Inn

Hot Springs, AR 71901

Property Type:Hospitality Number of Rooms:80 Status:Existing Year Built:1950
Stories:10 Building Size:101,550 SF Land Area:2.27 AC (98,881 SF)
For Sale Price:$4,995,000 Price/Room:$62,438 Cap Rate:10.79 %


Sale Notes:
Please see the attached Executive Summary for detailed information. Cap rate shown is for the Days Inn portion of the property only based on a $2,500,000 purchase price.

The Days Inn; 2008 Central Avenue: Sitting on 1.74 acres, this 80 room, 29,220sq.ft. (per the public record), two-story hotel/motel has undergone recent and extensive renovations. After closing its doors back in 2014, the property reopened in April of 2015 with a fresh new look. As a result of the updated, nicely appointed rooms and its central location, occupancy has been steady since reopening.

The Proposed Ramada Plaza Hotel; 2004 Central Avenue: Sitting on 2.29 acres, this is an 86-room, 66,879 sq.ft. (per the public record), 10-story mid-rise hotel building consisting of a large lobby, conference rooms, a banquet room, restaurant area, pool and spa. Located on the western edge of the property is an approximate 4,000 sq.ft. structure which is used as storage /maintenance for the hotels. Per the owner, $2,500,000.00 has spent on the restoration of this building in recent years, but the restoration project needs to be completed.

Berkshire Hathaway HomesServices California
John Duguid
(626) 440-5100

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