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- LoopNet Team
901 Highway 367
Newport, AR 72112
Fortune Inn & Suites · Hospitality Property For Sale
·
22,046 SF
INVESTMENT HIGHLIGHTS
- Fee simple interest in the 58-unit, Fortune Inn & Suites, located in Newport, Arkansas
- Recently renovated in 2021 and well maintained | Offered with minimal improvements expected for a new owner
- Unity Health Newport, 1.5 miles away, is a 133-bed hospital with a 24-hour emergency center and a variety of medical services
- Subject property has generated a historical NOI margin over 35%
- Upside with additional revenue through re-opening the bar | Historically generated an additional $300,000 in annual revenue
- Larger Metros | Little Rock, Arkansas (84 miles) and Memphis, Tennessee (90 miles)
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1980/2021 |
| Building Class | C | Parking Ratio | 3.63/1,000 SF |
| Lot Size | 2.50 AC | Corridor | Interior |
| Building Size | 22,046 SF | ||
| Zoning | C-1 - Commercial | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.50 AC |
| Building Size | 22,046 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2021 |
| Parking Ratio | 3.63/1,000 SF |
| Corridor | Interior |
| Zoning | C-1 - Commercial |
AMENITIES
- Pool
- High Speed Internet Access
- Patio
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
ABOUT 901 HIGHWAY 367 , NEWPORT, AR 72112
Marcus & Millichap is pleased to offer for sale a fee simple interest in the 58-unit, Fortune Inn & Suites, located in Newport, Arkansas. The subject property is located on 3 acres of land and features 2 floors of well-maintained guest rooms. Common area amenities include complimentary continental breakfast, a 24-hour front desk, an outdoor seasonal pool with lounge chairs, free on-site parking, and a fitness center. Each guest room is equipped with a flat-screen TV with cable channels, microwave, refrigerator, hairdryer, iron & ironing board, and desk with chair.
PROPERTY TAXES
| Parcel Number | 013-00207-000 | Improvements Assessment | $133,530 |
| Land Assessment | $23,530 | Total Assessment | $157,060 |
PROPERTY TAXES
