1215 Hospitality LnNeedles, CA 92363
- Hospitality properties
- 31,450 SF
Property Details for 1215 Hospitality Ln
- Year built
- 1984
- Construction
- WOOD FRAME
- Lot size
- 2.50 AC
- Property size (Sq ft)
- 31,450 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
- APN
- 0185-211-28-0000
- APU
- 185211280000
Description
This 104-key Days Inn & Suites motel in Needles, California, presents a compelling owner-user opportunity. Built in 1985 and renovated in 2023, the 36,762-square-foot property boasts a prominent location at 1215 Hospitality Ln, Needles, CA 92363. The asking price is $5,720,000. Significant renovations, exceeding $300,000, have already been completed, including new furniture, bathroom upgrades, exterior lighting, and vinyl flooring in 40 rooms. Approximately 60 rooms remain to be renovated, offering a substantial value-add opportunity for a new owner. The property benefits from the strong brand recognition of Days Inn & Suites by Wyndham, attracting a loyal customer base. Current operations show a trailing 12-month RevPAR index of $19.23, ranking 4 of 6 in its comp set, with 50% occupancy. However, projections indicate potential for significant revenue growth, reaching an annual revenue of $1,495,000 at the current comp set RevPAR of $39.40, through improved marketing, completed renovations, and efficient management. The property's proximity to the Colorado River and popular destinations like Lake Havasu and Laughlin, coupled with its strategic location for transportation and logistics, ensures strong demand. The current management structure offers further opportunities for cost optimization or owner-user management. Comparable sales in the submarket, such as the recent sale of the Rodeway Inn Needles for $9,800,000 ($84,000 per key), highlight the significant upside potential of this property. There is no new motel supply in the pipeline.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $9,571,386
- 6.5%
- $8,835,125
- 7%
- $8,204,045
-
Comparable approach
- Method
- Valuation
- Relative Method
- $14,807,368
- Geo Method
- $14,807,368
-
Alternative Use
- Use
- Valuation
- Residential
- $9,645,390
- Hospitality
- $8,835,125
- Educational
- $7,350,720
- Medical
- $7,603,523
- Retail
- $11,434,454
Location Insight
- City
- Needles
- County
- San Bernardino
- State
- California
- Latitude
- 34.8376
- Longitude
- -114.612
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].