120 Lindsey Rd Hannibal, MO 63401
- Hospitality properties
- 75,953 SF
- 3.77 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 120 Lindsey Rd
- Year built
- 2003
- Lot size
- 3.77 lot acres
- Property size
- 75,953 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 93-key Quality Inn & Suites in Hannibal, Missouri presents a compelling investment opportunity. Boasting 75,953 square feet on a 3.77-acre lot, this three-story, 2003-built hotel offers significant upside potential. Currently operating at 59.91% occupancy with a Net Operating Income (NOI) of $626,057 and an 8.35% capitalization rate, the property is priced at $7,500,000 ($98.75/sq ft). The hotel features a fully operational bar and 4,800 square feet of meeting space, catering to both business and leisure travelers. Its prime location in Hannibal benefits from proximity to major cities like Quincy, Illinois, and St. Louis, Missouri, and is supported by strong corporate generators including General Mills, BASF, Watlow Electric Manufacturing Company, and Hannibal Regional Healthcare System, as well as numerous local attractions such as the Mark Twain Boyhood Home and Museum and the Mississippi Riverfront. While currently underperforming the market average occupancy (59% vs. 67%) and average daily rate ($105 vs. $124), operational improvements and on-site management are projected to significantly increase profitability. A Property Improvement Plan (PIP) is estimated at $490,000. The property's location in Marion County, Missouri (zip code 63401, APN: 011.07.26.0.00.008.000) and its potential for increased revenue make this a strong investment prospect. Financing options may include USDA, SBA 7A, and SBA 504 loans.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hannibal
- County
- Marion
- State
- Missouri
- Longitude
- -91.4327
- Latitude
- 39.7119
