4 Story Hotel with 45 Rooms For Sale

Welcome to Ozarka Lodge, a 4 story hotel nestled in Eureka Springs and totaling 45 rooms. Among them are 29 double queen rooms, 11 king rooms, 4 king rooms w/ jacuzzi tub, and 1 double queen room w/jacuzzi tub. Guests can also enjoy relaxing in the pool, that also features convenient access underneath. This property also offers a 2bed living quarter complete with a kitchen, dining room, living room, and private balcony, great for employee housing. Priced at $94 PSF, which is less than half the current construction cost. The property is cinder block construction with a metal sloping roof featuring a concrete underlie only 7 to 8 years old. Regular double queen/king rooms rents for $69/night during the week and$79 on the weekends. During peak seasons these same rooms go for $89 on the weekends. For major events, they rent for $139/night. Rooms equipped with jacuzzis rent around $115 or $189 during events. Estimated gross at $384,000, expenses estimated at $239,000, NOI estimated at $145,000 and a 9.1%cap rate.