- 67-Room, Interior Corridor, Midscale Hotel Built in 2016
- Closest Franchised Extended-Stay Hotel to St. Francis Hospital Muskogee
- Well Positioned with Excellent Visibility from 32nd Street
- Operational Upside for Prospective Hands-On Owner-Operator Investor
- Upside Potential Through Implementation of Strategic Cost Control
- Recently Converted to Candlewood Suites June 2020
Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Candlewood Suites Muskogee. The InterContinental Hotels Group-branded hotel is priced on a Call for Offers basis. A recently converted property, constructed in 2016, is located along North 32nd Street, one mile from Saint Francis Hospital Muskogee.
This three-story, 67-room hotel presents a new owner the opportunity to acquire a value-add asset 50 miles southeast of Tulsa in a high transient centric market. An investor, looking to act as an owner-operator, can furthermore maximize profits through a reduction in management costs for the property. The hotel is well-equipped with a fitness center, business center, and meeting room.
The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.
The Candlewood Suites Muskogee is an InterContinental Hotels Group-branded property and has 67 rooms spread throughout three stories. The midscale hotel includes common area features such as an on-site business center, outdoor gazebo grill, and a recently renovated fitness center. Each guest room features a flat-screen television, spacious fully equipped kitchen, and appliances.
Muskogee, Oklahoma is in the eastern part of the state and is positioned 47 miles southeast from Tulsa. The Candlewood Suites Muskogee is located directly off of Highway 69 and is nearby several room demand generators. The hotel is 1.5 miles from medical facilities that include the VA Hospital and Sant Francis Hospital. Another market demand generator is the Port of Muskogee which is a 445-mile waterway that connects the Verdigris and Arkansas Rivers, the Arkansas Post Canal, the Mississippi River, and the White River. With the port being five miles from the city's business district the City of Muskogee continuously develops investment and business opportunities in and around Muskogee. Recently new construction began on the Cherokee Springs Plaza by the Cherokee Nation which will be 154-acre retail, dining, and entertainment district. The tribe has an ongoing effort to recruit national and regional businesses, focused on bringing dining, retail, and entertainment to the region.
Broker of Record
License: OK 181981