Executive Summary
SOLD!!
NEW PRICE!! This newly renovated Super 8 produces very attractive revenue and cashflow for its offsite, absentee owners and is being offered as a portfolio, with the nearby Rock Port Inn. Located on Interstate 29 between KC and Omaha, it captures I-29 traffic as well as those travelers coming to the area to visit the scenic Missouri River valley area and the historic Brownsville, NE downtown. Two truck stops are also located on the interchange, AmBest and The Trails End. The owner recently completed a new 20 year re-license agreement with Wyndham, including the PIP. The hotel shows well and is testimony to the recent improvements. Those improvements (2020) include flooring, carpet, case goods, wall paint, beds, artwork, lamp package and draperies.
Being 39 units, it is ideal for an onsite owner, or for placing an onsite partner. However, this offering is also being made in conjunction with the nearby Rock Port Inn, which would boost the room count to 75 units. At the combined asking price, the combined cap rate exceeds 12%, and the cash-on-cash return is over 26% (25% down, 6% APR, 20 year amortization). One manager can manage both, for decreased costs. Revenue has rebounded nicely from Covid, and 2021 was very strong.
Rock Port is a town of about 1500 located 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 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. The immediate 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
If you are looking for a peaceful and scenic lifestyle, this area fits that description. This owner is preparing for retirement and wishes to sell both properties as a portfolio.
To view the executive summary for the Rock Port Inn, please click the following link:
