320 Mccandless AveBooneville, AR 72927

Property Details for 320 Mccandless Ave

Lot size

0.32 AC

Property size (Sq ft)

2,429 SF

Property type

Hospitality properties

Property subtype

Motels

APN

800-00802-000

APU

80000802000

Description

This exceptional 33-unit motel, Hometown Inn & Suites, presents a lucrative investment opportunity in the thriving community of Booneville, Arkansas. Located at 320 McCandless Ave, Booneville, AR 72927, this two-story property boasts 5,200 square feet and currently operates at 79% occupancy. Eight units are equipped with kitchenettes, catering to both weekly and extended-stay guests. The property's strong performance is reflected in its current monthly gross income of $18,985 (27 units occupied), with total monthly expenses of $7,429.76, resulting in a gross monthly profit of $11,559.24. Projected figures indicate a significant increase in income, reaching $26,400 monthly ($161,920 annually) with a 15% pro-forma capitalization rate upon full occupancy of all 33 units. The asking price is $995,000. Seller financing is available with a 20-30% down payment and a 7% interest rate for a 3-5 year balloon payment. Booneville offers a supportive business environment, featuring amenities such as a Walmart Supercenter, hospital, and various retail establishments. The property's APN numbers are 800-00801-000, 800-00802-000, and 800-00804-000. This represents a compelling opportunity for owner-users seeking a high-return investment in a stable and growing market. The projected occupancy date for full capacity is September 24, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $240,502

  6.5%

  $222,002

  7%

  $206,144

• Comparable approach

  Method

  Valuation

  Relative Method

  $408,304

  Geo Method

  $408,304

• Alternative Use

  Use

  Valuation

  Residential

  $242,361

  Hospitality

  $222,002

  Educational

  $184,703

  Medical

  $191,055

  Retail

  $287,315

Location Insight

City

Booneville

County

Logan

State

Arkansas

Latitude

35.1408

Longitude

-93.9189

Property Tax & Assessments

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