2520 Central Ave Hot Springs, AR 71901-7512

This exceptional 120-key Best Western hotel in Hot Springs, Arkansas, presents a compelling investment opportunity. Boasting a prime location across from Oaklawn Racing Casino Resort and just two miles from Hot Springs National Park and Convention Center, this property benefits from the city's robust tourism economy, attracting over 5 million visitors annually. The hotel, situated on a 3-acre lot, comprises five buildings with two stories each, and underwent renovations in 2022. Currently operating at 50.49% occupancy (as of December 31, 2023), the property generates a strong NOI of $1,070,915, with a pro-forma NOI projected at $1,200,000, representing a 10% current cap rate and an 11% pro-forma cap rate. The asking price is $10,300,000. Amenities include a free-standing building offering a made-to-order breakfast, a business center, a fitness center, an outdoor pool, and a picnic area with BBQ grills. Guest rooms feature flat-screen TVs, hair dryers, coffee makers, microwaves, refrigerators, and premium mattresses with down comforters. The hotel is zoned for commercial use and operates under an LLP ownership structure. This property's strong performance, desirable location, and recent renovations make it an attractive investment in a thriving tourism market. The Best Western has received a Certificate of Excellence from TripAdvisor and is recognized by Best Western for exceptional guest experience scores.