This 79 key Rodeway Inn has 2 stories and is on 1.51 acres. It is easy to run as an owner operator with low property taxes. Revenues in 2019 close to $700,000 and 30% Net Operating Income of $208,000 in 2019. Offered at 12.4% Cap Rate based on 2019 and at 2.34 times the revenue. Premium location right off the main-highway with very easy access. Local economy is growing with diverse demand from industry, commercial, and leisure. Renovated in 2018-2019 to convert from Motel 6 to Rodeway Inn over $350,000 in improvements.
Type of Service: Limited-Service
Source of Business: Commercial, Leisure, Transient
Hotel Amenities: Non-Smoking Hotel, Free Parking, High Speed Internet, Vending Machines.
|Average Daily Rate||$46.11|
|Net Operating Income||$208,143|
|Per Unit Price||$20,253|
|Room Revenue Multiplier||2.3|
|Gross Income Multiplier||2.3|
|Room Revenue per Room||$8,715|