SAN ANTONIO, TX210.696.999610999 IH-10 West,Ste. 175San Antonio, TX 78230
RAV SINGH, CCIMAssociate Broker0: 210.696.9996C: [email protected] #0560351
Sleep Inn & Suites Coffeyville, KS
OFFERING MEMORANDUM
PRESENTED BY:
COFFEYVILLE, KS
OFFERING MEMORANDUM
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OFFERING SUMMARY
SALE PRICE: $2,750,000
ROOMS: 71
PRICE/ROOM: $38,732
RRM: 3.5X
REVENUE (2018) $784,000
OCCUPANCY: 40%
ADR: $75
LOT SIZE: 2.75 Acres
YEAR BUILT: 2008
BUILDING SIZE: 39,789 SF
ZONING: Commercial
PRICE / SF: $69.11
PROPERTY OVERVIEWSleep Inn & Suites is a 71 room limited service hotel located in Coffeyville, Kansas.The three-story hotel was built in 2008. The hotel features large spacious guestsuites, indoor heated swimming pool and hot tub, and all other standard amenitiesthat come with a similar Choice Hotels branded property.
The hotel is well-maintained, and a new owner may expect a PIP from thefranchisor. Full change of ownership PIP is ordered and available for seriousbuyers. For buyers wishing to run as an independent hotel, current owners has theability for an “early out” they can exercise for serious buyers.
Property includes a pad site for future development.
Listed in Cooperation with KS Licensee, Shelley Koster License# BR00233151
LOCATION OVERVIEWTraveling north on Hwy 169 - West at the Hwy 169/166 intersection and proceedone block to 202 W 11th. Traveling south on Hwy 169 - proceed into Coffeyvilleand continue West past the Hwy 169/166 intersection to 202 W 11th.
Executive Summary
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SALE HIGHLIGHTS
• The subject hotel is currently under performing its immediate
comp-set properties and priced significantly below replacement
cost. 40% OCC and $75 ADR on TTM Statistics
• Value-Add opportunity to acquire an under performing property
currently operating with a $37 RevPar vs Competitor's $47
RevPar on running TTM
• Full change of ownership PIP is ordered and available for
serious buyers
• Current franchise license at this location is expiring in 2020,
therefore new Buyer has an opportunity to de-brand the hotel
as a boutique or independent hotel, adding potential upside and
increase in NOI. Current owners have the ability for an “early
out” for serious buyers.
• New ownership will also have the option to keep the property in
the Choice Hotels family or reflag with other franchises
• Interested buyers is also getting the opportunity to acquire
additional land adjoining the hotel
• The hotel is highly reviewed achieving 4 stars on TripAdvisor
INVESTMENT HIGHLIGHTS
• The hotel is selling below replacement cost at $38, 732/room
that includes the hotel, land, and the padsite
• The business has many opportunities for reduced overhead
expenses and greater profitability for new ownership and is
ready to be managed by Owner - Operator, with the ability to
control costs and increase revenue
Complete Highlights
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Additional Photos
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Additional Photos
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Sleep Inn & SuitesCoffeyville, KS
Regional Map
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Demographics (Key Facts)
SLEEP INN & SUITES COFFEYVILLE, KS |
