10524 Markham StLittle Rock, AR 72205

Property Details for 10524 Markham St

Year built

1984

Lot size

1.81 AC

Property size (Sq ft)

47,016 SF

Property type

Hospitality properties

Property subtype

Motels

APN

44L-046-01-001-03

APU

44L0460100103

Description

This exceptional hospitality investment presents a dual-branded Motel 6 and Studio 6 property in Little Rock, Arkansas. The 47,016 square foot facility, built in 1984, features 138 keys spread across three floors with exterior corridors. The property boasts 103 Motel 6 rooms and 35 Studio 6 rooms, offering a diverse range of accommodations. Amenities include an outdoor pool, on-site laundry facilities, and vending machines. Each room is equipped with cable television, free Wi-Fi, a microwave, and a mini-refrigerator. The property is pet-friendly. Situated on a 1.8-acre lot with C zoning, this motel enjoys a prime location off I-430, providing easy access to major transportation routes. Its proximity to the Little Rock Zoo (3.6 miles) and Bill and Hillary Clinton National Airport (11.2 miles) further enhances its appeal. The property offers a strong net operating income (NOI) of $810,794, resulting in a compelling 12.01% cap rate. The asking price is $6,750,000, translating to $143.57 per square foot and $48,913.04 per key. This represents a significant opportunity for investors seeking a high-return hospitality asset in a thriving market. The property's strong performance and convenient location make it an attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $8,488,382

  6.5%

  $7,835,430

  7%

  $7,275,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,903,178

  Geo Method

  $7,903,178

• Alternative Use

  Use

  Valuation

  Residential

  $8,554,013

  Hospitality

  $7,835,430

  Educational

  $6,518,986

  Medical

  $6,743,184

  Retail

  $10,140,644

Location Insight

City

Little Rock

County

Pulaski

State

Arkansas

Latitude

34.7551

Longitude

-92.3906

CBSA code

30780

CBSA name

LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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