5696 I 49 N Service Rd - Hospitality FOR SALE


Opelousas, LA 70570
$9,250,000 USD
954-245-3426
5696 I 49 N Service Rd, Opelousas, LA for Sale
$9,250,000 USD
Hospitality - FOR SALE
1/28
null | 10.32% Cap Rate

5696 I 49 N Service Rd
Opelousas, LA 70570


HIGHLIGHTS

  • 78-room IHG-branded hotel - converted to Holiday Inn Express in 2022
  • Franchise agreement in place through 2036 with minimal Change of Ownership PIP expected
  • Consistently the #1 performer in its comp set for Occupancy, ADR, and RevPAR
  • Located directly off I-49, with proximity to I-10 and strong corporate/government demand drivers
  • Near Evangeline Downs, GEO Group’s ICE Facility, Tony Chachere’s, and Walmart Distribution

OVERVIEW

Altman Hotel Group with Marcus & Millichap is pleased to present the Holiday Inn Express & Suites Opelousas, a 78-room, interior corridor hotel located directly off I-49 in Opelousas, Louisiana. Originally built as a Holiday Inn and converted to a Holiday Inn Express in 2022, the property benefits from a strong franchise with minimal anticipated Change of Ownership PIP. The current IHG franchise agreement is in place through 2036, offering long-term brand stability for an incoming owner. The hotel has consistently outperformed its competitive set with a 3-year average RevPAR index of 148.8%, ranking #1 in Occupancy, ADR, and RevPAR for both 2023 and 2024. The property is strategically located near major demand drivers, including Evangeline Downs Racetrack & Casino, the GEO Group’s South Louisiana ICE Processing Center, Tony Chachere’s facility, and the Walmart Distribution Center. This offering presents a rare opportunity to acquire a top-performing, recently converted IHG asset in a stable tertiary market with proven upside and limited nearby competition.

FOR SALE DETAILS

PRICE

$9,250,000 USD

PRICE/SF

$139 USD /SF

# OF ROOMS

78

PRICE/ROOM

$118,590 {currency}

CAP RATE

10.32%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express & Suites Opelousas

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2001

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.53 AC

LAND SF

66,647 SF

ZONING

C2

APN/PARCEL ID

0102843500

ASK ABOUT THIS PROPERTY

David AltmanMarcus & MillichapMore Info
954-245-3426

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David AltmanMarcus & MillichapMore Info
954-245-3426

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