Garner by IHG Conversion Opportunity | 5200 N Classen Cir
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Garner by IHG Conversion Opportunity 5200 N Classen Cir
55 Room Hotel Oklahoma City, OK 73118 £2,354,973 (£42,818/Room)
Investment Highlights
- 55 Unit, 4 Story, Interior Corridor Hotel with Indoor Pool
- Underperforming Occupancy at 33.3% Compared to 49% for Comp Set
- Perfect Fit for Garner by IHG with Broker PIP Available
- Excellent Conversion Opportunity to the Available Midscale/Premium Economy New Brands: Garner by IHG or Spark by Hilton
- Located on Interstate 44 in the Heart of Oklahoma City
- OKC is Oklahoma's Most Populous City with over 649,000 Residents, Growing 12.5% over the Past 10 Years.
Executive Summary
This hotel conversion opportunity is currently branded as a Sleep Inn & Suites. It is a 55-room, 4-story interior corridor hotel located in Northwest Oklahoma City, Oklahoma.
With underperforming occupancy at 35% and a 4 story property built in 2006, this is a perfect opportunity for a conversion to the new introduction of Garner by IHG or Spark by Hilton.
Regarding Garner: The InterContinental Hotels Group (IHG) has introduced Garner hotels, unveiled August 2023, is a midscale brand leading with character and focusing on delivering quality stays at an affordable price. Garner hotels promise an outstanding/decorative experience for guests and an investment proposition for owners seeking high returns. More information about the Garner transition can be found here: https://ihg.showpad.com/share/Ef18lNlTexDyUDZ0SNqCF/0
Spark by Hilton is a premium economy hotel, valuable, comfortable, and reliable that employs an innovative conversion model, a brand with upside revenue opportunities for owners.
Additional details about the conversion requirements can be provided upon inquiry.
The hotel's location provides easy access to a range of local attractions and business hubs that include, hospitals, small businesses, and family fun outdoor activities. Guests can explore the nearby Oklahoma City Zoo, Oklahoma City National Memorial Museum, and attend a variety of sports, concerts, and entertainment options at the Chesapeake Energy Arena.
Offers are highly encouraged.
With underperforming occupancy at 35% and a 4 story property built in 2006, this is a perfect opportunity for a conversion to the new introduction of Garner by IHG or Spark by Hilton.
Regarding Garner: The InterContinental Hotels Group (IHG) has introduced Garner hotels, unveiled August 2023, is a midscale brand leading with character and focusing on delivering quality stays at an affordable price. Garner hotels promise an outstanding/decorative experience for guests and an investment proposition for owners seeking high returns. More information about the Garner transition can be found here: https://ihg.showpad.com/share/Ef18lNlTexDyUDZ0SNqCF/0
Spark by Hilton is a premium economy hotel, valuable, comfortable, and reliable that employs an innovative conversion model, a brand with upside revenue opportunities for owners.
Additional details about the conversion requirements can be provided upon inquiry.
The hotel's location provides easy access to a range of local attractions and business hubs that include, hospitals, small businesses, and family fun outdoor activities. Guests can explore the nearby Oklahoma City Zoo, Oklahoma City National Memorial Museum, and attend a variety of sports, concerts, and entertainment options at the Chesapeake Energy Arena.
Offers are highly encouraged.
Property Facts
| Price | £2,354,973 | Building Size | 32,758 SF |
| Price Per Room | £42,818 | No. Rooms | 55 |
| Sale Type | Investment | Number of Floors | 4 |
| Property Type | Hospitality | Year Built | 2006 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | B | Parking Ratio | 1.53/1,000 SF |
| Lot Size | 0.96 AC | Corridor | Interior |
| Price | £2,354,973 |
| Price Per Room | £42,818 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.96 AC |
| Building Size | 32,758 SF |
| No. Rooms | 55 |
| Number of Floors | 4 |
| Year Built | 2006 |
| Tenancy | Single |
| Parking Ratio | 1.53/1,000 SF |
| Corridor | Interior |
Amenities
- Business Centre
- Fitness Centre
- Pool
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 7 | £84.78 | - |
| Guest Room | 48 | £71.43 | - |
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Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 058857350 | Improvements Assessment | £160,159 |
| Land Assessment | £10,880 | Total Assessment | £171,039 |
PROPERTY TAXES
Parcel Number
058857350
Land Assessment
£10,880
Improvements Assessment
£160,159
Total Assessment
£171,039
zoning
| Zoning Code | C-4 (Commercial) |
| C-4 (Commercial) |
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Garner by IHG Conversion Opportunity | 5200 N Classen Cir
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