- 100-Room, Four-Story, Upper Midscale, Limited-Service Hotel
- In Close Proximity to Multiple Room Demand Generators
- Harding University is less than Three Miles from the Subject Property
- On-site Restaurant Delivery Available
- IHG Green Engage System
- Three Meeting Rooms Available
Investment Overview:
Marcus & Millichap's National Hospitality Group, as an exclusive representative of the Seller, is pleased to present for sale to qualified investors the Holiday Inn Express & Suites Searcy. The IHG-branded hotel is priced at $6,350,000 or $63,500 price per room; this represents a 3X multiple on trailing 12-month room revenues. An established property, constructed in 2009, is conveniently located along the highway corridor and provides great visibility for transient business. The hotel features a heated outdoor pool, on-site restaurant delivery, and three meetings rooms.
Priced at an attractive 11.36 percent capitalization rate, this four-story, 100-room hotel presents a new owner the opportunity to acquire a fully stabilized asset within the Little Rock MSA. The expenses include provisions for a 3 percent management fee and 4 percent reserves for capital replacement. The hotel is offered unencumbered by management and debt.
Property Overview:
The Holiday Inn Express & Suites Searcy is a 100-room, four-story, limited-service, interior corridor hotel. Built in 2009, the Green Engage upper-midscale hotel offers many common area and guest room amenities. The spacious guest rooms come well-equipped with in-room heating and A/C Controls, sofa bed/sleeper couch, mini refrigerator, microwave, flat-screen television, and DVD player. The hotel's common area amenities include a heated outdoor pool, fitness center, business center with computer station, three meeting rooms, and on-site restaurant delivery available.
Location Overview:
Searcy, Arkansas is the largest city located in White County and 52.6 miles from Little Rock. The Holiday Inn Express & Suites is positioned on 3660 Ferren Trail with direct access to Highway 64. The hotel is in close proximity to multiple popular revenue generators and major employers. Revenue generators in the area consist of a multitude of shopping centers which include JCPenney (0.6 miles), The Boutique (3.2 miles), and Maurices (0.7 miles). Harding University (2.6 miles) has 5,904 students, 336 instructional faculty members, and 18 intercollegiate sports and generates room demand throughout the year. Manufacturing and distribution play a vital role in Searcy's economy and approximately 10% of the workforce is employed in these areas.
Broker of Record
Anne Williams
License: AR SA00066390
