315 Canal St, Annawan, IL 61234
62 Room Hotel | Annawan, IL 61234 | $2,850,000 ($45,968/Room)
For Sale
Active
6 pictures
- Date Added:
- September 16, 2024
- Days on Market:
- 10 days
Asking Price $2,850,000
- Property Type
-
Hospitality
- Square Feet
- 31,000 SF
Listing Contacts
Eric Wold
Verified Profile
- Property Info
Property Overview
The Best Western Annawan Inn is a 62 room 2-story, interior corridor hotel located on I-80, 2 hours from Chicago and 40 minutes from the Quad Cities area.
The hotel maintains a $98 Average Daily Rate, demonstrating strong profit potential. STR data shows significant upside potential to capture a greater share of the market, with a RevPAR Index of 66% (running 12 months through April 2024).
The hotel is in excellent condition with strong reviews and excellent ratings online, and auto-transfer for Best Western's membership is expected. Included in the sale is the Annawan Banquet and Meeting Center next door, a full service banquet hall which provides significant additional income and is highly profitable.
Interested buyers are invited to contact us if you have further interest in this opportunity, would like to visit the property, or submit an offer. All property visits are by appointment only. Please do not contact the hotel or speak with the staff.
The hotel maintains a $98 Average Daily Rate, demonstrating strong profit potential. STR data shows significant upside potential to capture a greater share of the market, with a RevPAR Index of 66% (running 12 months through April 2024).
The hotel is in excellent condition with strong reviews and excellent ratings online, and auto-transfer for Best Western's membership is expected. Included in the sale is the Annawan Banquet and Meeting Center next door, a full service banquet hall which provides significant additional income and is highly profitable.
Interested buyers are invited to contact us if you have further interest in this opportunity, would like to visit the property, or submit an offer. All property visits are by appointment only. Please do not contact the hotel or speak with the staff.
Property Details
- Class
- C
- Year Built/Renovated
- 2002/2021
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 174,676 SF
- Units
- 62
Highlights
- 62 Unit, 2-Story Interior Corridor Hotel
- Room Revenue in 2023 $775,916
- 2 Hours from Chicago, Excellent Location Right off Interstate 80
- Absentee Ownership
- Sale Includes a Profitable Full Service Banquet Facility Next Door Which Provides Significant Additional Revenue
- Qualifies for Best Western Membership Auto-Transfer
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