Days Inn & Suites Clovis

Hospitality for Sale
Catylist Listing ID: 30138958
Property Subtypes: Hotel
Number of Units: 114 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 5 Acres
Sale Price: $4,500,000
Unit Price: $39,473.68 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 11.19%
Last Updated: 7/27/2017

Overview / Comments

The Days Inn & Suites of Clovis, N.M. is a 114-room, exterior corridor, limited-service hotel. Common area amenities include parking for cars and buses, outdoor swimming pool, business center, meeting room, and guest laundry facilities. With recent renovations, the property is a turnkey asset, operated by third-party management. Giving a new owner/operator substantial upside to run an aggressive hands-on operation.

The Days Inn & Suites of Clovis, N.M., is offered for sale at $4.5M, or approximately 39k per room at a capitalization rate of 11.17 percent based on TTM April 2017.

The hotel is experiencing a strong upward revenue trend: its revenue is up around 35 percent year-to-date compared to 2016. The hotel is gaining healthy increases in both ADR and Occupancy levels.

This is an excellent opportunity for an investor to acquire a turnkey and stabilized asset with substantial upside, well-below replacement cost.

Additional Details

Nearest MSA: Clovis
County: Curry

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,645 24,772 39,198
Median Age: 33.28 33.83 32.64
Households: 587 9,526 14,799

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member

Source

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