2101 Meridian Ave Oklahoma City, OK 73108-1723
- Motels
- 139,772 SF
- 11.21 lot acres
Current Use by Public Records
- Wyndham Garden Oklahoma City Airport/Bricktown/Fairground / Hotel / Inn
- LibertyX Bitcoin ATM / Atm
Property Details for 2101 Meridian Ave
- Year built
- 1982
- Construction
- TILT-UP CONCRETE
- Lot size
- 11.21 lot acres
- Property size
- 139,772 SF
- Property type
- Motels
- APN
- 14-880-1000
- APU
- 148801000
Description
This exceptional 244-room Wyndham Garden hotel presents a compelling investment opportunity in Oklahoma City. Located just minutes from Will Rogers World Airport, this full-service, two-story, interior corridor hotel boasts an impressive 11.21-acre lot and three buildings. Built in 1982, the property features an indoor pool and on-site restaurant, catering to both business and leisure travelers. Currently, 146 rooms are actively managed through Wyndham's PMS, while 98 rooms are temporarily removed from the system to reduce costs, presenting a unique opportunity for repositioning. The seller is exploring options including a dual-brand strategy or conversion to office rentals for a mixed-use development. The hotel's substantial banquet and event facilities, including a 1,800 square foot atrium and Grand Ballroom accommodating up to 350 guests, are currently underutilized. The property generated $2,055,473 in revenue in 2022 and $2,129,187 in 2023, currently underperforming at 51% of the RevPAR for its competitive set. The asking price is $5,800,000 ($23,700 per key). Oklahoma City's robust growth, ranked #1 nationally for lowest cost of living among large cities in 2023 by C2ER, and the recent $89 million expansion at Will Rogers World Airport, further enhance this property's potential. The hotel benefits from its proximity to major interstates (I-44 & I-40) and numerous demand generators, including the Oklahoma City Zoo and the Oklahoma City National Memorial and Museum. This is a rare chance to acquire a well-located hotel with significant upside potential in a thriving market. The property's APN is 14-880-1000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,410,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,825,000
- 6.5%
- $4,090,000
- 7%
- $3,985,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,530,000
- Geo Method
- $4,880,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,570,000
- Retail
- $3,835,000
- Mixed-Use
- $4,255,000
- Hospitality
- $3,560,000
- Educational
- $4,210,000
- Residential Income
- $4,555,000
- Energy
- $3,550,000
- Income-Based Land
- $4,475,000
- Food Service
- $4,245,000
Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.6021
- Latitude
- 35.4432
- CBSA code
- 36420
- CBSA name
- OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
