600 E McElroy Rd - Hospitality FOR SALE


Stillwater, OK 74075
$3,490,000 USD
405-810-1414
600 E McElroy Rd, Stillwater, OK for Sale
$3,490,000 USD
Hospitality - FOR SALE
1/10
null | Request Cap Rate

600 E McElroy Rd
Stillwater, OK 74075


OVERVIEW

• Priced at 2.6X Room Revenue • Offered at 20% of replacement / $28.8K per room (approx.) • Positive NOI & CAP rate each of the last 3 years • Income trending upward  • Various re-branding opportunities  The 121 room, 4 story, Wyndham Garden Hotel is a tremendous opportunity with excellent investment upside and good existing cash flows. The hotel is highly desirably located on US 177 & Highway 51, less than a mile from Oklahoma State University. It is also the closest full service hotel to the new $5.6B Cushing refinery construction project breaking ground in late 2024. Just 20 minutes away. Additionally, the immediate campus area has recently seen nearly $1B in new development and renovation including the new world class McKnight Center for the Performing Arts, the $70M O'Brate Baseball Stadium, and the state of the art OSU / Greenwood Tennis Complex which will be home to the 2024 NCAA Tennis Championships. Existing Boone Pickens Stadium, Gallagher-Iba Arena and the National Wrestling Hall of Fame & Museum have all had recent renovations as well. Other Stillwater demand generators include Stillwater Regional Medical Center, Stillwater Regional Airport, Cooperland Raceway & Motocross Track, Tumbleweed's Bar & Event Center, 3 PGA rated golf courses including Karsten Creek Golf Club, Lakes Carl Blackwell and Mercury, a major Wal-Mart distribution center, Kicker Manufacturing and Design Studios, and Armstrong Worldwide. A number of large electronic firms have manufacturing facilities as well: Kicker, Nomadics, Frontier Electronics and National Standard all have headquarters in Stillwater. Originally built as a Sheraton Inn, the hotel could potentially have rebranding, repositioning options as well.

FOR SALE DETAILS

PRICE

$3,490,000 USD

PRICE/SF

$47 USD /SF

# OF ROOMS

121

PRICE/ROOM

$28,843 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wyndham Garden Hotel Stillwater

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1982

PARKING SPACES

157

LAND DETAILS

LAND ACRES

4.62 AC

LAND SF

201,247 SF

ZONING

CS

APN/PARCEL ID

600011702

ASK ABOUT THIS PROPERTY

Peter HolmesHotelBrokerOneMore Info
405-810-1414

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Peter HolmesHotelBrokerOneMore Info
405-810-1414

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