360 Us-62 Salem, AR 72576

Property Details for 360 Us-62

Year built

1997

Lot size

1.96 lot acres

Property size

8,425 SF

Property type

Hospitality properties

Property subtype

Motels

Description

This well-maintained, 22-key Cottonwood Inn motel in Salem, Arkansas presents a lucrative investment opportunity. Boasting a 100% occupancy rate and a strong 18.54% cap rate, this established business offers significant returns. The 8,425 square foot property, built in 1997 and renovated in 2010, sits on a 1.96-acre lot and includes two buildings. Recent improvements, totaling approximately $70,000-$80,000, encompass a new roof and updated central heating and air conditioning. Each of the 22 air-conditioned rooms features amenities such as refrigerators, flat-screen televisions, and complimentary Wi-Fi and cable. Guests enjoy a daily continental breakfast and convenient access to local restaurants and attractions. The motel's prime location directly off Highway 62 ensures high traffic volume from truckers, contractors, and tourists. Its proximity to Crown Lake and Horseshoe Bend City Hall, as well as a nearby golf course, further enhances its appeal. The property includes an on-site apartment for management and is currently operated by a professional property manager. The asking price is $825,000, with a price per key of $37,500 and a price per square foot of $97.92. The property's strong NOI of $152,992 makes this a compelling investment for owner-operators seeking a high-performing hospitality asset. The corporation ownership structure offers a streamlined transaction.