Best Western Oasis Inn

$4,950,000

303 S 2nd St, Canadian, TX 79014

Details

  • $4,950,000

Investment Overview:

Marcus & Millichap’s National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Best Western Oasis Inn. The property is a 55-room, interior corridor, three-story hotel located in Canadian, Texas directly off of South 2nd Street, and approximately 100 miles northeast of Amarillo, Texas, The hotel is located directly off of State Highway 60.

The Best Western Oasis Inn is being offered at 3.88 times the July 2017 trailing twelve month revenue. This represents a capitalization rate of 10.5 percent. The property is well maintained and Best Western International membership transfer PIP is expected to be minimal.

 

Property Overview:

The Best Western Oasis Inn is a 56-room, interior corridor, mid-scale hotel located in Canadian, Texas. Conveniently located off Highway 60 in Hemphill County, this hotel offers ideal amenities and accommodations for both business and leisure travelers. Each guest room offers a microwave, refrigerator, 32-inch LCD television with cable, and desk. The hotel features a business center and meeting/conference facility for hosting corporate and family events. The Best Western Oasis Inn also offers an indoor heated swimming pool, fitness center, and continental breakfast bar with dining area. Travelers coming to town seeking hotel accommodations for rodeos, festivals, and local events.

Location Overview:

The Best Western Oasis Inn is conveniently located just one mile from the Palace Theater. This hotel is also close to the Black Kettle National Grassland Park and several oil and gas businesses. Canadian, is located on U.S. highways 60 and 83 in the northern Texas panhandle and is the county seat of Hemphill County. Canadian Texas is situated on a frequently traveled route connecting Amarillo, Texas, Tulsa, and Oklahoma. In addition to the town’s annual rodeo, the annual Midsummer Music Festival in August, the Autumn Foliage Tour in October and a burgeoning artist community which attracts visitors. Other attractions include the River Valley Pioneer Museum in Canadian, and Lake Marvin and the Gene Howe Wildlife Management area just east of the town.

Agent for this listing

Allan Miller

First Vice President Investments | Senior Director, National Hospitality Group
Office: (512) 338-7831
Mobile: (512) 203-9154
Fax: (512) 338-7810
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Steve Swenholt

Senior Associate, National Hospitality Group
Office: (512) 338-7826
Mobile: (972) 824-5483
Fax: (512) 338-7810
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