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.
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Jere Allen
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2520 Central Ave, Hot Springs, Arkansas, 71901
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2520 Central Ave
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