best western lindsay inn & suites...asset provides upside to new ownership due to exterran...

BEST WESTERN LINDSAY INN & SUITES14114 Highway 19 • Lindsay, OK 73052

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BEST WESTERN LINDSAY INN & SUITES

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EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Stride Well Service Inc 189

Walmart 100

AT&T Corp 97

Lindsay Municipal Hospital 85

Venture Pipe & Supply 80

Lindsay Alternative School 75

Lindsay Elementary School 60

Vickers Construction Inc 58

Washita Flow Testers Inc 57

Venture Pipe and Supply Inc 55

Homer Rinehart Company 50

Rinehart Company 50

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2016 Estimate Pop 1,233 3,474 4,561

2016 Census Pop 1,247 3,502 4,508

2016 Estimate HH 551 1,457 1,843

2016 Census HH 559 1,474 1,835

Median HH Income $33,887 $43,440 $46,089

Per Capita Income $22,170 $25,104 $25,356

Average HH Income $49,145 $59,473 $62,437

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VITAL DATA

TTM SEPT 2017* YEAR 1

Price $5,000,000 CAP Rate 12.21% 13.14%

PIP $0 Net Operating Income $623,452 $657,005

Down Payment 21.23% / $1,061,284 Net Cash Flow After Debt Service 28.98% / $307,569 32.14% / $341,123

Loan Amount $4,085,600 Total Return 35.83% / $380,294 39.00% / $413,848

Loan Type Proposed New

Interest Rate / Amortization 6.00% / 25 Years

Price/Room $87,719

Ownership Type Fee Simple

Number of Rooms 57

Rentable Square Feet 173,804

Number of Buildings 1

Number of Stories 3

Year Built 2015

Lot Size 3.99 acre(s)


OFFERING SUMMARY

57-Room, Interior Corridor, Limited Service Hotel

Opened April 2015, Qualifies for Best Western International Automatic Transfer

Offered at 3.17 RRM

3.99 Total Acres Included In Offering

Located Near New Gas Processing Plant Currently In Stage 2 OF 3 Stage

Construction

Located near Garvin, McClain and Grady Counties' Major Oil and Gas Industries

INVESTMENT HIGHLIGHTS

Marcus & Millichap's National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Best Western Lindsay Inn & Suites. The property is a 57-room,

interior corridor, three-story hotel located in Lindsay, Oklahoma directly off of Highway 19.

The Best Western Lindsay Inn & Suites is being offered at 3.17 times the September 2017 trailing twelve months revenue. Newly constructed and opened in 2015, this

property is being sold with little to no PIP requirements estimated. Asset provides upside to new ownership due to Exterran Holdings & Woodford Express Gas Processing

Plant currently being constructed near hotel site.

INVESTMENT OVERVIEW

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OFFERING SUMMARY

PROPERTY OVERVIEW

Property Overview:

The Best Western Lindsay Inn & Suites is a 57-room, interior corridor, limited service, mid-scale hotel located in

Lindsay, Oklahoma. The property is the only hotel in Lindsay and serves as a lodging solution for oilfield

demands. Opened in 2015, this three-story hotel has a wood frame structure with stone and stucco exterior. The

hotel features common area amenities such as an indoor heated swimming pool, fitness center, and guest

laundry facilities. Room amenities include a 42-inch flat screen television, microwave, refrigerator and an activity

table/work desk.

Location Overview:

Lindsay is a city in Garvin County, Oklahoma. The town is positioned just 50 miles south of Oklahoma City, the

state's capital, and approximately 60 miles east of Lawton, Oklahoma. Lindsay is known for its natural parks and

rich culture. Travelers enjoy the area's historical sites, museums, and local culture and attractions such as:

Murray - Lindsay Mansion and Toy and Action Figure Museum, Shady Grove Park and Lindsay Municipal Golf

Course.

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Fitness Center

Indoor Pool

Common Area Amenities

24-Hour Business Center

Laundry Service

Meeting Room

Flat Screen Television

Guest Room Amenities

Work Desk and Chair

Self-Controlled Heating/Cooling

Microwave

Refrigerator

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OFFERING SUMMARY


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PROPERTY SUMMARY

THE OFFERING

Property Best Western Lindsay Inn & Suites

Price $5,000,000

Property Address 14114 Highway 19, Lindsay, OK

SITE DESCRIPTION

Number of Rooms 57

Year Built/Renovated 2015

Ownership Type Fee Simple

Lot Size 3.99 acre(s)

PROPOSED FINANCINGFIRST TRUST DEED

Loan Amount $4,085,600

Loan Type Proposed New

Interest Rate 6.00%

Amortization 25 Years

Loan Term 25 Years

Loan to Value 82%

Debt Coverage Ratio 2.08

SECOND TRUST DEED

Loan Type All Cash

AERIAL PHOTO


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Allan MillerFirst Vice President Investments

Senior Director, National Hospitality Group

Office: (512) 338-7831Mobile: (512) 203-9154

Marcus & Millichap closes

more transactions than any

other brokerage firm.

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PROPERTY PHOTO


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best western lindsay inn & suites...asset provides upside to new ownership due to exterran...

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