Jonesboro, Arkansas offers a unique opportunity for investors to capitalize on the city's growing economy and tourism industry through the acquisition of hotels. With a population of approximately 80,000 people, Jonesboro is a hub for cultural and economic activity in Northeast Arkansas. Hotels in Jonesboro can represent a range of investments, from boutique hotels to larger chain establishments, catering to the city's diverse visitor base. The city's amenities, infrastructure, and location make it an attractive destination for travelers, with attractions like Arkansas State University, St. Bernard's Regional Medical Center, and Craighead Forest Park. Additionally, Jonesboro's geography, situated atop Crowley's Ridge, provides a unique landscape for hotels to offer scenic views and outdoor recreational activities. The city's strong economy, driven by industries like healthcare, education, and retail, ensures a steady stream of visitors, making hotels a viable investment opportunity.
Currently, there are 1 hotels for sale in Jonesboro, offering a range of options for investors. The average price per square foot for hotels in Jonesboro is $118 USD, with an average size of 45,000 square feet. The largest hotel available for sale is 45,000 square feet. In addition to hotels, Jonesboro also offers a range of other investment opportunities, including restaurants, apartment buildings, and shopping centers. Restaurants in Jonesboro can benefit from the city's growing food scene, with a variety of local eateries and chain establishments. Apartment buildings in Jonesboro offer a range of options for investors, from luxury complexes to affordable housing. Shopping centers in Jonesboro, such as The Mall at Turtle Creek, provide a hub for retail activity and can be a lucrative investment opportunity. Overall, Jonesboro's diverse economy and range of investment opportunities make it an attractive destination for investors.
What factors should I consider when buying a hotel in Jonesboro?
When considering buying a hotel in Jonesboro, Arkansas, there are several key factors to take into account, including:
- Average cap rate, currently at 11.51%, to ensure a strong return on investment.
- Property size, with average hotel sizes ranging from 45,000 square feet to 45,000 square feet, to accommodate your business needs.
- Location, with proximity to major transportation hubs like the St. Louis Southwestern Railway (Cotton Belt Railroad) and major roads, as well as local amenities like Arkansas State University and St. Bernard's Regional Medical Center, to attract guests.
Additionally, it's essential to research the local market, including the current average price per square foot of $118 USD, and explore financing options, such as CRE loans, to make your investment a success. For more information on commercial real estate loans, check out our article at CRE loans.
With 1 available hotel listings in Jonesboro, it's crucial to carefully evaluate these factors to find the right property for your business goals.
How is the value of a hotel for sale typically calculated?
When evaluating hotels for sale in Jonesboro, Arkansas, the value of a property is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the hotel's income, expenses, and local market conditions. For instance, a CRE appraisal may consider the hotel's average daily rate, occupancy rate, and revenue per available room, as well as the property's size, amenities, and location, to determine its value, which can range from $118 USD per square foot for a 45,000 square feet property to 45,000 square feet for larger hotels, with an average cap rate of 11.51%.
Learn more about the CRE appraisal process and how it can impact your investment decisions at CRE appraisals. With 1 hotels for sale in Jonesboro, it's essential to understand the valuation process to make informed investment decisions.
