Executive Summary
SOLD!!
Price Reduction!! The Rock Port Inn is the budget alternative within the Rock Port hotel portfolio offering (together with the Super 8 Rock Port). This budget operation produces a reasonable income and is complementary to the Super 8 operation. Being an independent, there are no franchise fees, or PIP, and it can be operated from the Super 8. It is located directly across the I-29 interchange from the Super 8 and the two are less than a minute apart. It is strictly limited service with no breakfast service, and no fitness center, elevator or pool to maintain.
With 36 units, and when combined with the Super 8, the combined room count increases to 75 units, and the combined revenue was over $730,000 (YE 2021). One manager can manage both, for decreased costs. Revenue has rebounded nicely from Covid 19, and 2021 was similar to pre-covid revenues. Furthermore, 2022 continues to improve. At the combined asking price, the combined cap rate is nearly 14%, and the cash-on-cash return approaches 30% (depending on rate and amortization).
Rock Port is a town of about 1500 located on Interstate 29 between KC and Omaha, in the scenic Loess Hills of NW Missouri, within miles of 3 other states, KS, NE, and IA. Specialty and antique shops line the downtown and the spire of the historic Atchison County Courthouse presides over the town square. Rock Port features several notable distinctions. It is the first town of its kind to generate 100% of its electricity by wind energy. Furthermore, it is also know as the “Fireworks Capital of Missouri”, and is the first legal fireworks venue south of Omaha. Nearby demand generators in the area are:
- Interstate 29
- Loess Hills Wind Farm
- Cooper Nuclear Station
- Loess Bluffs National Wildlife Area (Squaw Creek)
- Historic Brownsville, NE
- Fairfax Community Hospital
- Advanced Pork Systems
This owner is preparing for retirement and wishes to sell both properties as a portfolio.
To view the executive summary for the Super 8, please click the following link:
