Home2 Suites Fort Smith

$10,350,000

7400 Phoenix Avenue, Fort Smith, AR 72903

Details

  • $10,350,000

Home2 Suites Fort Smith is a 90-unit, interior-corridor, select-service, upper-midscale hotel. This four-story hotel features outdoor parking, breakfast and dining area, beverage area, indoor swimming pool, fitness center, meeting room, business center, laundry facilities, snack shop and wireless internet access. Each suite contains living, cooking and sleeping areas, and is fitted with air conditioning, coffee maker, refrigerator, microwave, dishwasher, work desk with chair, hair dryer, iron with ironing board, HDTV and wireless internet access.

Located near the city center, the subject hotel is within walking distance of the local retail and restaurant hub and two blocks from Fort Smith Regional Airport. It’s 2.2 miles from Central Mall and within six miles from Museum of History and Fort Smith National Historic Site. Ideal for corporate travelers, this hotel is six miles southeast of the Fort Smith Convention Center and near many businesses such as Rheem Manufacturing, Mac Steel, Baldor, Trane, Gerber Products, Coca Cola Corporation, etc.

The property currently resides on a small land lease with favorable terms. The 50-year land lease is owned by the Fort Smith Airport Commission, and renews with each new tenant starting at $26,016 for the first 5 years.  In years 6 through 10, the rent will increase to $39,026 per year.  Beginning in Year 11 and every 5th year thereafter during the primary term the rent shall increase 6 percent.

 

Broker of Record:
Anne Williams
License: AR SA00066390

Agent for this listing

Steve Swenholt

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