211 9Th StCanute, OK 73626

Property Details for 211 9Th St

Year built

1981

Lot size

1.06 AC

Property size (Sq ft)

25,272 SF

Property type

Motels

APN

I030-00-003-001-0-002-00

APU

I03000003001000200

Description

This exceptional investment opportunity presents a 64+ room motel situated on a 1.06-acre lot at 211 N 9th Street, Canute, OK. Conveniently located just off Interstate 40 at the Canute exit, this property offers significant potential for a savvy investor. The existing structure boasts a substantial 12,636 square feet of space, including multiple guest rooms, a dedicated laundry room, and ample family rooms suitable for on-site management or staff. While the property requires some renovation—all existing carpeting has been removed—this presents a chance to customize and upgrade to meet current market demands. The extensive parking area ensures ample space for guests and staff. The asking price of $450,000 reflects the significant upside potential inherent in this prime location and substantial building size. This is an ideal opportunity for an investor seeking a high-return project with strong potential for growth in a convenient location. The property's proximity to I-40 provides excellent visibility and accessibility, making it an attractive destination for travelers. With some investment in renovations and upgrades, this motel can be transformed into a thriving business.

• CAP approach

  CAP return

  Valuation

  6%

  $3,726,640

  6.5%

  $3,439,975

  7%

  $3,194,262

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,145,708

  Geo Method

  $7,145,708

• Alternative Use

  Use

  Valuation

  Residential

  $3,755,453

  Hospitality

  $3,439,975

  Educational

  $2,862,019

  Medical

  $2,960,448

  Retail

  $4,452,029

Location Insight

City

Canute

County

Washita

State

Oklahoma

Latitude

35.4235

Longitude

-99.2767

Property Tax & Assessments

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