UPSIDE POTENTIAL – REPOSITIONING OPPORTUNITY – ON US HWY (CLEMS-JH4025)

$1,900,000.00

Listing Description

StateMississippi
Listed By (One of the following must be checked):Broker / Agent
Number of Units120
Type of ListingIndependent
# of Floors2
# of Buildings4
Features:Array

Comments

120-unit hotel built as a full-service property, currently operating as an 80-unit, limited-service independent hotel with 3 sets of living quarters. Despite minimal on-line presence, 2020 income exceeded 2019. The property is comprised of 4 buildings on a large 4-lane US highway frontage lot. 3 buildings house 40 guestrooms each (2 currently in operation). The fourth building houses the front desk and lobby plus restaurant/lounge space (currently not operating). The buildings are arranged so that 80 units can be split from the 40 and reception building. Improvements to the property include new roofing. This property offers multiple possibilities such as dual branding, extended-stay or apartment conversions for much needed housing in the area. Located in county seat town with a university campus and 2 community colleges. Listed at $1,900,000

(JH4025)

Contact: John Hillenburg
SOUTHEAST INTERNATIONAL HOTEL BROKERS
1930 E. Meadowmere #101
Springfield, MO 65804
417-865-2520
info@southeastinternational.com
http://www.southeastinternational.com