2407 Arkansas Ave, Russellville, AR 72802
70 Room Hotel | Russellville, AR 72802 | $4,250,000 ($60,714/Room)
For Sale
Active
Asking Price $4,250,000
- Property Type
-
Hospitality
- Square Feet
- 92,004 SF
Listing Contacts
- Property Info
Property Overview
To view offering summary and due diligence please visit https://clarioninnsuitesrussellvillei40.sharplaunch.com/ or contact Mike Knall directly at (214) 500-4295 for more information.
Marcus & Millichap has been chosen to exclusively market for sale the Clarion Inn & Suites Russellville, a Choice Hotels gold award winner in Russellville, Arkansas. The Clarion Inn & Suites Russellville presents a prime opportunity to acquire a sub 3X GRM in a historically stable & growing market.
The property is located ideally off of I-40 which is the west transcontinental Interstate Highway in the southeastern and southwestern portions of the United States. Rated the #11 out of 104 Clarions in the United States, Clarion Inn & Suites consists 70 total rooms, 7 being suites. There is also an additional 70 rooms currently offline that can be put back into operation. The property completed a PIP in 2017 to update rooms, bathrooms, and common areas. Hotel amenities include an on-site laundry services, fitness & business centers, complimentary breakfast, along with a restaurant/bar; one of two properties in a dry county to have a license.
Marcus & Millichap has been chosen to exclusively market for sale the Clarion Inn & Suites Russellville, a Choice Hotels gold award winner in Russellville, Arkansas. The Clarion Inn & Suites Russellville presents a prime opportunity to acquire a sub 3X GRM in a historically stable & growing market.
The property is located ideally off of I-40 which is the west transcontinental Interstate Highway in the southeastern and southwestern portions of the United States. Rated the #11 out of 104 Clarions in the United States, Clarion Inn & Suites consists 70 total rooms, 7 being suites. There is also an additional 70 rooms currently offline that can be put back into operation. The property completed a PIP in 2017 to update rooms, bathrooms, and common areas. Hotel amenities include an on-site laundry services, fitness & business centers, complimentary breakfast, along with a restaurant/bar; one of two properties in a dry county to have a license.
Property Details
- Class
- B
- Year Built/Renovated
- 1964/2017
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 175,547 SF
- Units
- 70
Highlights
- Winner of Gold Award by Choice 2023, Ranked #11 out of 104 Clarions in the USA
- Property has an additional 70 offline keys (140 total keys on parcel) that can be renovated/converted, with potential to create substantial revenue
- Located in Opportunity Zone providing substantial tax incentives
- 1 of 2 hotels in market to have a liquor license in a dry county – Major Plus!
- Prime location on the busiest exit I-40 & Hwy 7 which leads to Arkansas Hot Springs and Ozark Mountains
- Russellville awarded Arkansas’s final casino license - $300M Legends Casino being developed 1 mile away, having a $5B impact on economy
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