Wyndham Garden Hotel Stillwater | 600 E McElroy Rd
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Wyndham Garden Hotel Stillwater 600 E McElroy Rd
121 Room Hotel Stillwater, OK 74075 £2,733,717 (£22,593/Room)
Executive Summary
• Priced at 2.6X Room Revenue
• Offered at 20% of replacement / $28.8K per room (approx.)
• Positive NOI & CAP rate each of the last 3 years
• Income trending upward
• Various re-branding opportunities
The 121 room, 4 story, Wyndham Garden Hotel is a tremendous opportunity with excellent investment upside and good existing cash flows. The hotel is highly desirably located on US 177 & Highway 51, less than a mile from Oklahoma State University. It is also the closest full service hotel to the new $5.6B Cushing refinery construction project breaking ground in late 2024. Just 20 minutes away.
Additionally, the immediate campus area has recently seen nearly $1B in new development and renovation including the new world class McKnight Center for the Performing Arts, the $70M O'Brate Baseball Stadium, and the state of the art OSU / Greenwood Tennis Complex which will be home to the 2024 NCAA Tennis Championships. Existing Boone Pickens Stadium, Gallagher-Iba Arena and the National Wrestling Hall of Fame & Museum have all had recent renovations as well.
Other Stillwater demand generators include Stillwater Regional Medical Center, Stillwater Regional Airport, Cooperland Raceway & Motocross Track, Tumbleweed's Bar & Event Center, 3 PGA rated golf courses including Karsten Creek Golf Club, Lakes Carl Blackwell and Mercury, a major Wal-Mart distribution center, Kicker Manufacturing and Design Studios, and Armstrong Worldwide. A number of large electronic firms have manufacturing facilities as well: Kicker, Nomadics, Frontier Electronics and National Standard all have headquarters in Stillwater.
Originally built as a Sheraton Inn, the hotel could potentially have rebranding, repositioning options as well.
• Offered at 20% of replacement / $28.8K per room (approx.)
• Positive NOI & CAP rate each of the last 3 years
• Income trending upward
• Various re-branding opportunities
The 121 room, 4 story, Wyndham Garden Hotel is a tremendous opportunity with excellent investment upside and good existing cash flows. The hotel is highly desirably located on US 177 & Highway 51, less than a mile from Oklahoma State University. It is also the closest full service hotel to the new $5.6B Cushing refinery construction project breaking ground in late 2024. Just 20 minutes away.
Additionally, the immediate campus area has recently seen nearly $1B in new development and renovation including the new world class McKnight Center for the Performing Arts, the $70M O'Brate Baseball Stadium, and the state of the art OSU / Greenwood Tennis Complex which will be home to the 2024 NCAA Tennis Championships. Existing Boone Pickens Stadium, Gallagher-Iba Arena and the National Wrestling Hall of Fame & Museum have all had recent renovations as well.
Other Stillwater demand generators include Stillwater Regional Medical Center, Stillwater Regional Airport, Cooperland Raceway & Motocross Track, Tumbleweed's Bar & Event Center, 3 PGA rated golf courses including Karsten Creek Golf Club, Lakes Carl Blackwell and Mercury, a major Wal-Mart distribution center, Kicker Manufacturing and Design Studios, and Armstrong Worldwide. A number of large electronic firms have manufacturing facilities as well: Kicker, Nomadics, Frontier Electronics and National Standard all have headquarters in Stillwater.
Originally built as a Sheraton Inn, the hotel could potentially have rebranding, repositioning options as well.
Property Facts
| Price | £2,733,717 | Building Size | 74,808 SF |
| Price Per Room | £22,593 | No. Rooms | 121 |
| Sale Type | Investment | Number of Floors | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1982/2012 |
| Property Subtype | Hotel | Parking Ratio | 2.1/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 4.62 AC |
| Price | £2,733,717 |
| Price Per Room | £22,593 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 4.62 AC |
| Building Size | 74,808 SF |
| No. Rooms | 121 |
| Number of Floors | 4 |
| Year Built/Renovated | 1982/2012 |
| Parking Ratio | 2.1/1,000 SF |
| Corridor | Interior |
Amenities
- Business Centre
- Fitness Centre
- Pool
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wi-Fi
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 121 | £69.71 | - |
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PROPERTY TAXES
| Parcel Number | 600011702 | Improvements Assessment | £32,611 |
| Land Assessment | £296,401 | Total Assessment | £329,012 |
PROPERTY TAXES
Parcel Number
600011702
Land Assessment
£296,401
Improvements Assessment
£32,611
Total Assessment
£329,012
zoning
| Zoning Code | CS |
| CS |
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Wyndham Garden Hotel Stillwater | 600 E McElroy Rd
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