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1296 S Frontage Rd

Vicksburg, MS 39180

$6,850,000

Hotel For Sale  •  44,049 Sq Ft

Property Details

  • Property Type Hotel
  • Total Building Size 44,049 Sq Ft
  • Lot Size 1.7 ac
  • Building Class B
  • Year Built 2009
  • Cap Rate 11.90 %
0 Transit Score
38 Walk Score

Description

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 83-room,
3-story, Candlewood Suites located within close proximity to downtown Vicksburg, Mississippi. Vicksburg
is rich in history and culture, with numerous demand generators, such as: world-class casinos, upscale
shopping and dining, historic sites and museums. The Candlewood Suites is currently stabilized with
a strong NOI margin commonly seen from the Candlewood model. The hotel is operating at a 110.0%
RevPAR penetration index, with an opportunity to boost RevPAR by increasing the Average Daily Rate
(ADR).

Highlights

Located just off Interstate 20, less than three miles from Downtown Vicksburg, Mississippi.
Low fixed and variable expenses, producing almost a 40% Net Operating Income margin.
This location is outperforming its competitive set at a 110.0% RevPAR penetration index.

Financial Summary

Cap Rate: 11.90 %

Major Tenants

Tenant SF Occupied Lease End Date
Candlewood Suites 0 SF

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 90
Type: Surface
Included in Rent: Yes
Ryan Nee 954-245-3400 Marcus & Millichap
Ryan Nee 954-245-3400 Marcus & Millichap