For Sale
$10,300,000
2520 Central Ave Hot Springs, AR 71901
120-Key Hotel, High ROI Potential
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 138
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
Nearby Similar for Sale
FAQs
- What type of property is this?
- Hospitality property - 120-Key Hotel, High ROI Potential
- Where is the hospitality property located?
- The property is located at 2520 Central Ave Hot Springs, AR.
- What is the asking price?
- The asking price for this property is $10,300,000.
- What are key features of this property?
- This property features: 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.
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