320 Mccandless Ave, Booneville, AR 72927

2,429 SF 0.32 ac lot

Entity Owned Absentee Owner Free & Clear

Property ID

US05-1538843

$999,000 2,429 SF

320 Mccandless Ave, Booneville, AR 72927
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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.