120 Lindsey Dr - Hospitality FOR SALE


Hannibal, MO 63401
$7,500,000 USD
661-978-3109
120 Lindsey Dr, Hannibal, MO for Sale
$7,500,000 USD
Hospitality - FOR SALE
1/19
null | 8.35% Cap Rate

120 Lindsey Dr
Hannibal, MO 63401


HIGHLIGHTS

  • Priced to sell at $8,000,000
  • Strong ADR Market
  • Massive Upside Potential
  • Fully Operational Bar & 4,800 SQFT Meeting Space

OVERVIEW

Thank you for your interest in the 94-room Quality Inn and Suites strategically located near major cities, including Quincy, Illinois, and 2 hours North of St. Louis, Missouri. * Highlights & Location: * Long term absentee ownership * Prime location in the city * This limited-service hotel has a fully operational bar and 4800 sq feet of meeting space. * The hotel is currently underperforming the comp set running at an average occupancy of 59% at a $105 rate while the market is at 67% at $124 rate showing the upside with on-site management and operational optimizations. * PIP estimated at $490k  * Corporate Generators: General Mills  BASF  Watlow Electric Manufacturing Company  Hannibal Regional Healthcare System  Local Agriculture  *  Demand Generators: Mark Twain Boyhood Home and Museum  Mark Twain Cave Complex  Mississippi Riverfront  Rockcliffe Mansion Hannibal Trolley Tours  Molly Brown Birthplace and Museum Sawyer's Creek Fun Park  Riverview Park  Hannibal History Museum Hannibal Arts Council Gallery  * LOAN & FINANCING: This hotel will qualify for a USDA, SBA 7A, SBA 504 loan with 20% down. H3O Capital with Hotel Brokers of America will be able to connect a new buyer with a direct lender directly.   * * Missouri Broker of Record:Brian Brockman   Bor@bangrealty.com MO DRE 2017032771 Bang Realty-Missouri Inc

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$99 USD /SF

# OF ROOMS

94

PRICE/ROOM

$79,787 {currency}

CAP RATE

8.35%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn & Suites Hannibal, MO

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2003

PARKING SPACES

186

LAND DETAILS

LAND ACRES

3.8 AC

LAND SF

165,528 SF

ZONING

E

APN/PARCEL ID

011.07.26.0.00.008.000

ASK ABOUT THIS PROPERTY

Subhash NaikHotel Brokers of AmericaMore Info
661-978-3109

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Subhash NaikHotel Brokers of AmericaMore Info
661-978-3109

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