1215 Hospitality LnNeedles, CA 92363

  • Hospitality properties
  • 31,450 SF
For Sale
$5,720,000 View listing

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
1215 Hospitality Ln, Needles, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,496
$1,020,000
$3,570,000
$4,590,000
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