For Sale
$10,300,000

2520 Central AveHot Springs, AR 71901

120-Key Hotel, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 120-key Best Western hotel in Hot Springs, Arkansas, presents a compelling investment opportunity. Boasting a prime location across from Oaklawn Racing Casino Resort and just two miles from Hot Springs National Park and Convention Center, this property benefits from the city's robust tourism economy, attracting over 5 million visitors annually. The hotel, situated on a 3-acre lot, comprises five buildings with two stories each, and underwent renovations in 2022. Currently operating at 50.49% occupancy (as of December 31, 2023), the property generates a strong NOI of $1,070,915, with a pro-forma NOI projected at $1,200,000, representing a 10% current cap rate and an 11% pro-forma cap rate. The asking price is $10,300,000. Amenities include a free-standing building offering a made-to-order breakfast, a business center, a fitness center, an outdoor pool, and a picnic area with BBQ grills. Guest rooms feature flat-screen TVs, hair dryers, coffee makers, microwaves, refrigerators, and premium mattresses with down comforters. The hotel is zoned for commercial use and operates under an LLP ownership structure. This property's strong performance, desirable location, and recent renovations make it an attractive investment in a thriving tourism market. The Best Western has received a Certificate of Excellence from TripAdvisor and is recognized by Best Western for exceptional guest experience scores.

Highlights

  • Prime location in Hot Springs, AR, across from Oaklawn Racing Casino Resort and two miles from Hot Springs National Park & Convention Center, a major tourist destination with over 5 million annual visitors.
  • 120-key Best Western hotel on a 3-acre lot, featuring five two-story buildings, renovated in 2022.
  • Strong financial performance with a current NOI of $1,070,915 and a pro-forma NOI of $1,200,000, resulting in a 10% current cap rate and an 11% pro-forma cap rate. Asking price: $10,300,000.
  • Excellent guest amenities including a free-standing building with a made-to-order breakfast, business center, fitness center, outdoor pool, and picnic area with BBQ grills. Guest rooms offer flat-screen TVs, hair dryers, coffee makers, microwaves, refrigerators, and premium mattresses.
  • High-performing asset recognized for exceptional guest experience, boasting a TripAdvisor Certificate of Excellence and ranking in the top 20% of Best Western properties for overall guest experience.

Property Details for 2520 Central Ave

Property type
Hospitality properties, Hotels
Year Renovated
2022
Buildings
5
Stories
2
Lot Size (sq. ft)
130,680 SF

Location Insight

City
Hot Springs
County
Garland
State
Arkansas
Latitude
34.4854589
Longitude
-93.059787
2520 Central Ave, Hot Springs, Arkansas

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2520 Central Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message