LaQuinta Inn & Suites

Hospitality for Sale
Catylist Listing ID: 30529173
Property Subtypes: Hotel
Number of Units: 68 Units
Building Size (RSF): 31,488 SF
Gross Building Area: See Agent
Gross Land Area: 1.60 Acres
Sale Price: $6,250,000
Unit Price: $91,911.76 Per Unit
Property Use Type: Vacant/Owner-User
Franchise Parent Name: LaQuinta Inn & Suites by Wyndham
Sale Terms: Cash to Seller
Cap Rate: 8.53%
Last Updated: 11/14/2019

Overview / Comments

The LaQuinta Inn is a 68-room hotel that sits on 1.6 acres and consists of 31,488 square feet. The Hotel is located along interstate 75 at the Emory Road Exit going north toward Lexington, KY.

In 2015, the Owner acquired a new Flag known as “The LaQuinta Inn & Suites by Wyndham” and completed a $1.5 million dollar PIP in 2016. The LaQuinta Inn provides the lifestyle experience with amenities for business and leisure. The breakfast bar, fitness center, business center, indoor pool and meeting space together with high-speed wireless internet provides guests with warm hospitality and exceptional service to make everyone feel right at home.

Attachments & Media

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $22,218 (Annual)
Tax Value Land $680,000
Tax Value Improvements $1,939,400
Assessed Value - Total($) $2,620,000 (Annual)
Gross Operating Income $1,402,907 (Annual)
Net Operating Income $533,013 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 047OB007
Zoning: CA
Property Visibility: Excellent
Feet of Frontage: 190
Area Description: Going north on Interstate 75 toward Lexington, KY, take the Emory Rd Exit east and turn left at the first signal light onto Conner Road.
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Excellent
Year Built: 1997
Year Renovated: 2016
Parking Type: Surface
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Other
Lot Frontage: 190
Lot Depth: 361.76

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,791 41,839 112,696
Median Age: 36.58 39.1 38.25
Households: 2,452 17,222 47,564
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