Comfort Suites Central I-44
63 Room Hotel | Tulsa, OK 74145 | $4,200,000 ($66,667/Room)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,200,000
- Property Type
-
Hospitality
- Square Feet
- 38,433 SF
Listing Contacts
Hussain Shaik
Verified Profile
Skyler Cooper
Verified Profile
- Property Info
Property Overview
As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Comfort Suites Central/I-44 Tulsa (‘Hotel’ or ‘Property’) located in Tulsa, Oklahoma. The Choice Hotels-branded Hotel is offered at $4,200,000 or $66,667 per key.
The Comfort Suites Central/I-44 Tulsa is a 63-room, three-story Hotel stationed at 8039 E 33rd St in Tulsa, Oklahoma, just off U.S. Highway 64 and Interstate 44. Various common area amenities at the Property include an indoor heated pool with whirlpool hot tub, breakfast area, fitness center, meeting space, laundry facility, gift shop and convenience store, and business center. Tulsa, Oklahoma is located on the Arkansas River in northeast Oklahoma, about 100 miles east of Oklahoma City, Oklahoma and 180 miles from Wichita, Kansas and Springfield, Missouri.
The Hotels proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy. The region is known for its energy, entertainment, and manufacturing industries and attracts over nine million visitors annually. Tulsa is home to two Fortune 500 companies, Oneok (8.8 miles) and Williams Companies (8.0 miles). Entertainment demand drivers for the city include one of the top 50 fine arts museums in the U.S. Philbrook Museum of Art (5.5 miles miles). Additional room demand generators that provide entertainment for local tourists include the Woody Guthrie Center (8.3 miles), Tulsa Air and Space Museum & Planetarium (7.9 miles), and the Oklahoma Aquarium (11.9 miles).
The Saint Francis Health System and QuikTrip, two of the city’s largest employers, are located 3.7 miles and 5 miles from the Hotel, respectively and are prime revenue drivers for the surrounding area. Another major employer that is responsible for a significant portion of the workforce is American Airlines maintenance base. Located at the Tulsa International Airport (5.2 miles) the world’s largest commercial aircraft maintenance base, employing nearly 5,000 team members, including more than 3,200 licensed aviation maintenance technicians and overhaul support mechanics. The University of Tulsa, located near the property (6.0 miles), boasts a diverse student body with approximately 4,500 students and is renowned for its strong programs in engineering, business, law, and the arts.
As of May, the 12-month average RevPAR in the Tulsa South/Broken Arrow hotel submarket was 2.2%, indicating steady growth over the last year. Potential buyers could foresee various benefits in acquiring a hotel in this submarket, including heightened room revenues, excess capital for renovations, and operational benefits such as improved cash flow and economies of scale.
BROKER OF RECORD
Steve Greer
Oklahoma
Lic #: 206118
P: (225) 376-6800
The Comfort Suites Central/I-44 Tulsa is a 63-room, three-story Hotel stationed at 8039 E 33rd St in Tulsa, Oklahoma, just off U.S. Highway 64 and Interstate 44. Various common area amenities at the Property include an indoor heated pool with whirlpool hot tub, breakfast area, fitness center, meeting space, laundry facility, gift shop and convenience store, and business center. Tulsa, Oklahoma is located on the Arkansas River in northeast Oklahoma, about 100 miles east of Oklahoma City, Oklahoma and 180 miles from Wichita, Kansas and Springfield, Missouri.
The Hotels proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy. The region is known for its energy, entertainment, and manufacturing industries and attracts over nine million visitors annually. Tulsa is home to two Fortune 500 companies, Oneok (8.8 miles) and Williams Companies (8.0 miles). Entertainment demand drivers for the city include one of the top 50 fine arts museums in the U.S. Philbrook Museum of Art (5.5 miles miles). Additional room demand generators that provide entertainment for local tourists include the Woody Guthrie Center (8.3 miles), Tulsa Air and Space Museum & Planetarium (7.9 miles), and the Oklahoma Aquarium (11.9 miles).
The Saint Francis Health System and QuikTrip, two of the city’s largest employers, are located 3.7 miles and 5 miles from the Hotel, respectively and are prime revenue drivers for the surrounding area. Another major employer that is responsible for a significant portion of the workforce is American Airlines maintenance base. Located at the Tulsa International Airport (5.2 miles) the world’s largest commercial aircraft maintenance base, employing nearly 5,000 team members, including more than 3,200 licensed aviation maintenance technicians and overhaul support mechanics. The University of Tulsa, located near the property (6.0 miles), boasts a diverse student body with approximately 4,500 students and is renowned for its strong programs in engineering, business, law, and the arts.
As of May, the 12-month average RevPAR in the Tulsa South/Broken Arrow hotel submarket was 2.2%, indicating steady growth over the last year. Potential buyers could foresee various benefits in acquiring a hotel in this submarket, including heightened room revenues, excess capital for renovations, and operational benefits such as improved cash flow and economies of scale.
BROKER OF RECORD
Steve Greer
Oklahoma
Lic #: 206118
P: (225) 376-6800
Property Details
- Class
- B
- Year Built/Renovated
- 2002/2004
- Stories
- 3
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 52,708 SF
- Units
- 63
Highlights
- Three-Story, 63-Room, Choice Hotels-Branded, Interior-Corridor Hotel
- Located within the Tulsa MSA about 100 Miles East of Oklahoma City
- Easily Accessible and Highly Visible from the Intersection of U.S. Highway 64 and Interstate 44
- Situated Under 10 Miles from Tulsa International Airport and Near Tulsa’s Largest Employers and Highest Value Businesses and the University of Tulsa
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].