Travelodge Suites by Wyndham Lake Okeechobee 1527 US Highway 441 SE 42 Room Hotel Okeechobee, FL 34974 $2,950,000 ($70,238/Room) 18.81% Cap Rate

OFFERING OVERVIEW:
DSH Hotel Advisors has been retained as the exclusive broker to market for sale the Travelodge Suites Lake Okeechobee, a Wyndham Hotel, located in Okeechobee, Florida. The 42-room exterior corridor hotel is located directly off of U.S. Route 441, offering high visibility. Strategically located near Lake Okeechobee, Florida’s largest freshwater lake and a major draw for outdoor enthusiasts, this well positioned asset benefits from year-round tourism, including fishing tournaments, eco-tourism, and regional events.


PROPERTY OVERVIEW:
The property located in Okeechobee, Florida, was built in 2000 and the appears to remain in good condition due to an ongoing capital improvement plan. The property is situated near several key demand generators, including agriculture, tourism centered around Lake Okeechobee, and seasonal visitors. While Okeechobee itself is a rural area with a focus on farming and outdoor recreation, it is experiencing steady growth, particularly in agriculture and eco-tourism sectors.


RECENT RENOVATIONS COMPLETED:
Interior Paint (All Rooms - 2023)
Exterior Paint (2021)
New FF&E (All Rooms - 2024)
New Bed Base/Frames (All Rooms - 2024)
New Carpet and LVT (2021)
New Phone System (2022)
New RFID Locks (2021)New TVs (40+ Inch)
New WiFi Access Points and Cables (2024)
New Guest Laundry Equipment(2021)
Addition of Storage Shed (2018)
Addition of Laundry Building and Manager’s Apartment (2014)
Parking Lot Sealcoat (2024)- PTACs & Water Heater Replaced as Needed


LOCATION OVERVIEW:
Okeechobee, Florida, located in the Lake Okeechobee Micropolitan Statistical Area (MSA), serves as a gateway to the largest freshwater lake in the state. Annually, the area sees numerous visitors, particularly for fishing, boating, and outdoor recreational activities related to the lake, as well as for the annual Okeechobee Music & Arts Festival, which draws large crowds. The region is a hub for agriculture, particularly cattle farming and citrus production, which act as key demand generators for the local economy.
Furthermore, the presence of the Okeechobee Battlefield Historic State Park and Arnold’s Wildlife Rehabilitation Center contribute to the area’s tourism appeal. These attractions, alongside the area’s natural beauty, agriculture, and lake-based activities, make Okeechobee a key part of Florida’s rural tourism and agricultural economy.


Property Highlights:
-Travelodge Suites by Wyndham Lake Okeechobee, A Wyndham Hotel
-42-Rooms | 2 Stories | Exterior Corridor
-Year Built - 2000
-Amenities Include: BBQ Grill, Picnic Area, Guest Laundry, All Rooms Have Kitchenettes - Full-Size Refrigerator, Microwave, 2-Burner Stove-top
Location Highlights:
-0.1 Miles to Lake Okeechobee
-1.7 Miles to Okeechobee Battlefield Historic State Park
-7.5 Miles to Okeechobee County Airport
-16.3 Miles to Arnold’s Wildlife Rehabilitation Center
-20.4 Miles to Sunshine Grove (Home of the Okeechobee Music & Arts Festival)
-65 Miles to Palm Beach International Airport (PBI)
Financial Highlights:
-List Price of $2,950,000
-YE 2022 Room Revenue of $938,043
-YE 2023 Room Revenue of $739,213
-YE 2024 Room Revenue of $1,024,196
-YE 2024 ADR/Occ/RevPAR: $114.21 ADR / 58.0% Occ / $66.28 RevPAR
-YE 2024 Net Operating Income of $554,940