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Cherokee Inn 1720 S Grand Ave 25 Room Hotel Cherokee, OK 73728 $365,000 ($14,600/Room)
Investment Highlights
- Heavy road traffic
- Open-plan layout, brick wall structure
- Abundant natural sunlight
Executive Summary
An Excellent Investment Opportunity!
Located at the intersection of Highway 64 and Highway 8, this well-positioned motel sits on approximately 1.8 acres and is the only motel in town. The property features 25 guest rooms, an office, and a two-bedroom, one-bathroom manager’s apartment.
Conveniently located near the Salt Plains Lake area, the motel benefits from demand for lodging generated by visitors to the lake and surrounding recreational attractions. This property offers an excellent opportunity for an investor or owner-operator seeking an established hospitality business in a strategic location.
Cherokee inn presents an opportunity to purchase a positive cash-flow motel property in a market.
Consistent baseline occupancy from workforce, state agencies, and regional visitors
Tourism Anchors: Salt Plains Lake area,
This is the only source of transparent crystals, and visitors can go down into the lake to dig for them themselves.
one of Oklahoma’s most visited outdoor destinations. The park draws:
• Hikers
• Hunters
• Horseback riders
• Families
• Fall festival visitors
Strong Workforce-Driven Demand
• Energy workers
• Truck drivers
• Seasonal labor
• Traveling contractors
Located at the intersection of Highway 64 and Highway 8, this well-positioned motel sits on approximately 1.8 acres and is the only motel in town. The property features 25 guest rooms, an office, and a two-bedroom, one-bathroom manager’s apartment.
Conveniently located near the Salt Plains Lake area, the motel benefits from demand for lodging generated by visitors to the lake and surrounding recreational attractions. This property offers an excellent opportunity for an investor or owner-operator seeking an established hospitality business in a strategic location.
Cherokee inn presents an opportunity to purchase a positive cash-flow motel property in a market.
Consistent baseline occupancy from workforce, state agencies, and regional visitors
Tourism Anchors: Salt Plains Lake area,
This is the only source of transparent crystals, and visitors can go down into the lake to dig for them themselves.
one of Oklahoma’s most visited outdoor destinations. The park draws:
• Hikers
• Hunters
• Horseback riders
• Families
• Fall festival visitors
Strong Workforce-Driven Demand
• Energy workers
• Truck drivers
• Seasonal labor
• Traveling contractors
Property Facts
| Price | $365,000 | Lot Size | 1.28 AC |
| Price Per Room | $14,600 | Building Size | 10,250 SF |
| Sale Type | Investment | No. Rooms | 25 |
| Sale Condition | Building in Shell Condition | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1963 |
| Property Subtype | Hotel | Parking Ratio | 1.2/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Zoning | Commercial | ||
| Price | $365,000 |
| Price Per Room | $14,600 |
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.28 AC |
| Building Size | 10,250 SF |
| No. Rooms | 25 |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.2/1,000 SF |
| Corridor | Exterior |
| Zoning | Commercial |
Amenities
- High Speed Internet Access
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 25 | $62.00 | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0210-00-004-003-0-000-00 | Improvements Assessment | $18,713 |
| Land Assessment | $6,915 | Total Assessment | $25,628 |
Property Taxes
Parcel Number
0210-00-004-003-0-000-00
Land Assessment
$6,915
Improvements Assessment
$18,713
Total Assessment
$25,628
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Cherokee Inn | 1720 S Grand Ave