Cash Flowing Property with Strong and Steady Demand for Long Term Rentals from Newly Expanded Steel Mill. Property includes 60 unit Rodeway Inn hotel, plus adjacent leased restaurant and bar, and extra land with potential for development. Located 50 miles Northeast from Memphis, Arkansas, along the Mississippi River. Hotel gets $67K Revenue per year from leased restaurant and bar. Extra land can be used as RV Parking facility. Take advantage of significant extended stay from different industries and transient business from Interstate 55. Revenues about $580,000 in 2019 and 2020. New owner projected Net Operating Income of $291,341. Projected 14% Cap Rate and 43% cash on cash return.
Hotel is under ground lease until 2071. Monthly fixed cost, with no escalation costs.
Renovation: Restaurant and Bar 2019
Type of Service: Limited-Service
Source of Business: Commercial, Leisure, Corporate, Transient
Hotel Amenities: Non-Smoking Hotel, Outdoor Seasonal Pool, Game Center, Conference Room, Restaurant & Bar, High Speed Internet, Free Parking & Electric Charging Station.
Room Amenities: Room Service, Petr Friendly, Refrigerator, Microwave, Iron & Iron Board.