2200 S Court St - Hospitality FOR SALE


Grayville, IL 62844
$2,900,000 USD
818-851-3314
2200 S Court St, Grayville, IL for Sale
$2,900,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

2200 S Court St
Grayville, IL 62844


HIGHLIGHTS

  • 60 Room, Interior Corridor Hotel
  • Bar, Swimming Pool, and Restaurant are All Closed, Upside Opportunity for Experienced Hotelier
  • Direct Access to Interstate 64
  • Located Midway between Louisville and St. Louis and 3 Miles from Indiana Border
  • Profitable Despite Hands-Off Ownership, Net Income in 2024 was $368,369.45 which is a Cap Rate of 12.7%
  • Seller Financing May be Available to Qualified Buyer with 20% Down

OVERVIEW

This 60 unit, two-story interior-corridor hotel is located in Grayville, Illinois, within White County. Ideally situated between Louisville and St. Louis and just three miles from the Indiana border, the property offers convenient access to Interstate 64. The hotel is in excellent condition, having undergone numerous interior renovations, with only minimal updates remaining. The hotel is a solid concrete build, and all rooms were updated in 2019. The hotel has empty rooms for offices and maintenance, which could be converted into a large 4-5 room manager's apartment as well. Several amenities such as the bar, swimming pool, and restaurant are currently closed, presenting an opportunity for a new owner to reopen them and maximize profitability. Despite these closures, the property continues to offer a variety of guest amenities, including a fitness center, continental breakfast area, casino room, laundry facilities, and 147 parking spaces with dedicated truck and RV parking that generates additional income. Gaming machines produce approximately $25,000 of revenues annually. Grayville is historically known for its oil and gas drilling, among other demand generators in the area. The city is diversifying its economy through growth in renewable energy, such as wind and solar power, and advanced manufacturing. Local initiatives aim to attract technology firms and other emerging sectors to reduce dependence on traditional industries and create new employment opportunities.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$47 USD /SF

# OF ROOMS

60

PRICE/ROOM

$48,333 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn Grayville

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1986

PARKING SPACES

60

LAND DETAILS

LAND ACRES

3.17 AC

LAND SF

138,085 SF

ZONING

C

APN/PARCEL ID

05-29-400-006

ASK ABOUT THIS PROPERTY

Tim TakaoAmber Hotel CompanyMore Info
818-851-3314

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Tim TakaoAmber Hotel CompanyMore Info
818-851-3314

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.