3125 N Kentwood Ave - Hospitality FOR SALE


Springfield, MO 65803
$3,300,000 USD
818-851-3300
3125 N Kentwood Ave, Springfield, MO for Sale
$3,300,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

3125 N Kentwood Ave
Springfield, MO 65803


HIGHLIGHTS

  • 53 Room, 2 Story, Interior Corridor Hotel, Direct Access to Interstate 44
  • 2023 Room Revenue: $887,645
  • Perfect for Owner Operator, Currently the Owner is Absentee
  • Property is Up-to-date on Owner's PIP Requirements with Numerous Upgrades Completed Recently
  • Excellent Location a Few Miles from 3 Universities, Springfield Expo Center, Ozark Empire Fairgrounds & Events Center, & Springfield Branson Airport
  • The Population in Springfield is 169,176 According to 2020 Census, Growing 3% Over the Past 3 Years - The Largest of Any Metro Area in Missouri

OVERVIEW

The Red Roof Inn is a 53-unit, two-story hotel with interior corridors, situated in Greene County, Springfield, Missouri. Located just a few miles from Missouri State University and Springfield Branson National Airport, the hotel is a perfect opportunity for an owner operator. Built in 1997 and recently updated, it boasts a modern design and offers competitive pricing for investors. Springfield is experiencing growth and is the largest metro area in Missouri, attracting developers in housing, commercial, and industrial sectors. The city has a wide range of demand generators, including three major universities, science museums, a fairgrounds and events center, parks, and remarkable caverns. The hotel is conveniently located near numerous corporations that provide year-round job opportunities. Revenues have been steady despite absentee ownership, with potential for further upside with an on-site manager. There is an ability to convert 1 or 2 rooms to be a manager's apartment onsite as well. The Owner has completed numerous upgrades to the property, including the replacement of curtains, beds, locks, and TVs within the last 3 years with nothing currently required of him to renovate. The Seller anticipates a minimal PIP for the next owner. The hotel is in excellent condition.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$181 USD /SF

# OF ROOMS

53

PRICE/ROOM

$62,264 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Roof Inn Springfield

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1997

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,806 SF

ZONING

INC

APN/PARCEL ID

12-06-108-043

ASK ABOUT THIS PROPERTY

Tim TakaoAmber Hotel CompanyMore Info
818-851-3300

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Tim TakaoAmber Hotel CompanyMore Info
818-851-3300

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