2101 S Meridian Ave - Hospitality FOR SALE


Oklahoma City, OK 73108
$5,800,000 USD
818-851-3300
2101 S Meridian Ave, Oklahoma City, OK for Sale
$5,800,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

2101 S Meridian Ave
Oklahoma City, OK 73108


HIGHLIGHTS

  • 244 Room, Full Service, 2 Story, Interior Corridor Hotel with Indoor Pool and Restaurant
  • Total Revenue $2,055,473 in 2022 and $2,129,187 in 2023 ; Asking $23.7k/Key
  • Underperforming at 51% of the RevPAR for Comp Set
  • Excellent Location just 3 Miles from OKC's Will Rogers International Airport, nearby to Interstate 44 & Interstate 40
  • OKC is Oklahoma's Most Populous City with over 649,000 Residents, Growing 12.5% over the Past 10 Years. Diverse Demand Generators Nearby
  • Underutilized Banquet and Event Facilities: 1,800 (+/-) Square Foot Atrium and Grand Ballroom Able to Host 350 Guests

OVERVIEW

The Wyndham Garden is a 244 room, 2 story interior corridor hotel located in Oklahoma City, just a few miles from Will Rogers International Airport. As of late 2023, 146 Rooms remain active with Wyndham's PMS and 98 rooms in a building wing are removed from Wyndham's system to reduce cost. The Seller considered a dual brand for those rooms, but is currently exploring converting those rooms to office rentals for a mixed use space, which is why the STR report for April & June 2024 shows occupancy so much higher than the year prior. Oklahoma City continues to grow quickly, and is ranked as the Number 1 city for lowest cost of living among large cities in 2023 by C2ER. Demand generators are very broad, including the Oklahoma City Zoo, Oklahoma City National Memorial and Museum, and the hotel is nearby to OKC's city center and many corporations. With on-site dining, free airport shuttle service, and extensive meeting and event space, our hotel is the perfect destination for business and leisure travelers alike. The hotel is poised to capture a larger share of the market given its proximity to the airport and higher room count, with banquet and event services available to host in the hotels' Grand Ballroom which seats up to 350 guests in the 1,800 square foot atrium. Will Rogers World Airport recently completed renovations and construction totaling $89 million to include additional airline gates, security improvements and modernized public areas.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$42 USD /SF

# OF ROOMS

146

PRICE/ROOM

$39,726 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wyndham Garden Oklahoma City Airport

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1982

PARKING SPACES

260

LAND DETAILS

LAND ACRES

11.21 AC

LAND SF

488,308 SF

ZONING

C

APN/PARCEL ID

148801000

ASK ABOUT THIS PROPERTY

Tim TakaoAmber Hotel CompanyMore Info
818-851-3300

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

Tim TakaoAmber Hotel CompanyMore Info
818-851-3300

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