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800 Salem Drive - Fairfield Inn, Owensboro, KY

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800 Salem Drive - Fairfield Inn

Owensboro, KY 42303


Property Type:Hospitality Number of Rooms:100 Status:Existing Year Built:1997
Stories:4 Building Size:75,828 SF Land Area:1.82 AC (79,279 SF)
For Sale Price:$8,000,000 Price/Room:$80,000 Cap Rate:9.60 %

Parking:-


Highlights
2 Hotel Package Featuring Premium Franchise Affiliation 97 Room Fairfield Inn - Owensboro, KY - Marriott International Strong Financials Generating nearly $2.2M in annual revenues Generating nearly $800K in annual NOI Recently renovated to Fairfield Inn Generation 4 specifications featuring the newest and most desirable Fairfield product available Priced at a significant discount to replacement costs Can be delivered unencumbered of management
Description
The Fairfield Inn Owensboro, a recently renovated, four story, block and plank constructed property features the latest Fairfield Inn Generation 4 design package by Marriott. The Trailing-12 Kentucky West Area tract hotel market in which the Fairfield Inn Owensboro is located, has reflected a respectable 7.8% RevPar growth. The Hotel has increased significantly, reflecting an outstanding 11.5% RevPar increase Y-O-Y while the competitive set has actually declined 3.4%. The Hotel's excellent condition and brand affiliation should continue to allow the Property to over penetrate the comp set and deliver consistent, stable results.
Conveniently located near the intersection of US. Rts. 60 and 431
Minutes from Kentucky Wesleyan University and Brescia University
4 miles from Downtown Owensboro

Sale Notes:
The Fairfield Inn Owensboro, a recently renovated, four story, block and plank constructed property features the latest Fairfield Inn Generation 4 design package by Marriott. The Trailing-12 Kentucky West Areatract hotel market in which the Fairfield Inn Owensborois located, has reflected a respectable 7.8% RevPargrowth. The Hotel has increased significantly, reflecting an outstanding 11.5% RevPar increase Y-O-Ywhile thecompetitive set has actually declined 3.4%. The Hotel'sexcellent condition and brand affiliation should continue to allow the Property to over penetrate the comp set and deliver consistent, stable results.

SVN | HPW Commercial
Jeff Roike
(919) 789-5215




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