Econo Lodge Blackwell @ I-35 - Blackwell , OK

This award winning EconoLodge is being offered at an amazingly low price of $21,700 per key and 2.2X room revenue. Built in 1994, the shows as well as any EconoLodge we have listed. It is a Platinum Award winner and rates "Exceptional" on the Choice site.

Property Details

Address 1201 N. 44th St, Blackwell OK 74631 (view map)
Price $1,300,000
Rooms 60
Price Per Key 21,666
Property Type Economy limited service - highway
Revenue Call for CA

Executive Summary

The 60 key EconoLodge Blackwell compliments the adjacent Best Western quite well.  In addition to the hotel offering, two retail pad sites are also included in the offering, each one priced individually.  The hotel and retail can be purchased individually or as a portfolio, depending on the deal.  The retail buildings are single tenant restaurants, one a 1580 sq ft Subway ($110,000) and the other a 4200 sq.ft. Los Potros Mexican restaurant ($340,000).     Both are located on pad sites directly in front of the hotel. The EconoLodge features a 2 story entry and spacious lobby, unlike many EconoLodge properties.  In addition, it is interior corridor and features an indoor pool and meeting room.  

This award winning EconoLodge is located on one of the busiest NAFTA interstate highways in the country.  I-35 connects Mexico to Canada and Blackwell is only 1.5 hours north of Oklahoma City and about one hour south of Wichita, KS.  The area is known for energy exploration, Indian casinos, manufacturing and the agricultural business.  The downturn in the oil boom has affected the hotels in the region.  Of course, if oil prices continue to increase, one would expect that exploration in the region would begin to ramp up again.  There are 5 casinos within 20 minutes of Blackwell, making it a nice hub for those that are enjoying the casino circuit.  Those are:

  • Native Lights Casino     
  • 7 Clans Casino
  • Tankawa Hotel & Casino
  • Osage Casino
  • Southwind Casino

More notable however, is the recent announcement and ground breaking for the Rock & Brews Casino (Gene Simmons of KISS fame) to be built 10 miles north of Blackwell, in partnership with the Kaw Nation.  The 78,000 sq. ft. casino will be the largest in the State, and it will offer a 1500 seat event center, luxury retail, and a travel plaza.   Mr. Simmons has used his fame to expand his Rock & Brews franchise throughout a number of areas of the country.  In addition to the casinos, Blackwell does play a roll in providing some demand generation with its population of 7,000, that is, a 12,000 sq ft events center and Northern Oklahoma College in Tonkawa.  The link to the press release for the ground breaking is:  http://www.tulsaworld.com/scene/music/rockers-kiss-come-to-kay-county-for-groundbreaking-on-rock/article_7f96f20f-08c0-58e7-8984-387d5c107689.html.  

The EconoLodge may be purchased with or without the retail buildings.  In addition, the Best Western can be purchased with the EconoLodge as a portfolio.  Both of these hotels show well and are pride of ownership properties.  If the oil business comes back and agriculture recovers, which both are likely to do, at some point, these deals could turn into very attractive investments.

Contact an Associate

Brent Jaynes, Managing Partner Brent Jaynes, Managing Partner
913-499-4731 (office)
Send an Email

Hotel Description

  • Built 1994, 60 keys
  • Offered at 2.2X room revenue
  • Two floors, interior corridors 
  • Rates 4.6 on Choice (Exceptional) and is a Platinum Award winner, the highest award level in the Choice system.
  • Flat panel TVs
  • Indoor Pool
  • Business Center
  • 100% smoke free
  • Ample Parking, (all concrete) including truck parking
  • May be purchased with adjacent Best Western
  • May be purchased with 2 adjacent fully leased restaurant buildings