225 Sturgis RdMarion, KY 42064

Property Details for 225 Sturgis Rd

Year built

1951

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.00 AC

Property size (Sq ft)

6,344 SF

Property type

Motels

APN

070-60-06-001.00

APU

70600600100

Description

This charming 19-key motel presents a compelling investment opportunity in Marion, Kentucky. Situated on a spacious 2.7-acre lot at 225 Sturgis Rd, this established property offers significant potential for growth. Built in 1951, the Royal Inn has benefited from renovations, ensuring its rooms are well-maintained and equipped with necessary amenities. The asking price is $1,500,000. The motel enjoys a highly desirable location, offering convenient access to I-24 and US-60, placing it minutes from the James Bruce Convention Center, Lake Barkley, and Kentucky Lake. This strategic positioning within a thriving area, boasting a 2022 median household income of $50,158 within a one-mile radius and $76,494 on average, makes it an attractive prospect for investors seeking to enter or expand their presence in the hospitality sector. The property's strong location and established operational history make it a solid investment with potential for increased profitability. This turnkey operation is ready for a new owner to capitalize on its existing success and further develop its potential. The property's size and location provide ample opportunity for future expansion or diversification of services. This is a rare opportunity to acquire a well-established motel in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,244,804

  6.5%

  $1,149,050

  7%

  $1,066,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,283,315

  Geo Method

  $1,283,315

• Alternative Use

  Use

  Valuation

  Residential

  $1,254,429

  Hospitality

  $1,149,050

  Educational

  $955,996

  Medical

  $988,874

  Retail

  $1,487,105

Location Insight

City

Marion

County

Crittenden

State

Kentucky

Latitude

37.3417

Longitude

-88.0751

Property Tax & Assessments

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