With 1 hotels for sale in Springfield, Missouri, investors have a wide range of opportunities to tap into the city's growing hospitality industry. Hotels in Springfield offer a unique investment opportunity, providing a chance to capitalize on the city's strong tourism sector and its reputation as a regional hub for medical care, education, and sports. Whether you're looking to invest in a boutique hotel, a budget-friendly motel, or a luxury resort, Springfield has something to offer. The city's amenities, infrastructure, and location make it an attractive destination for travelers, with popular attractions like Nathanael Greene/Close Memorial Park, Phelps Grove Park, and the Springfield Cardinals' Hammons Field drawing visitors from across the region. Additionally, the city's strong educational institutions, including Missouri State University and Drury University, ensure a steady stream of visitors throughout the year. With its rich history, cultural attractions, and outdoor recreational opportunities, Springfield is an ideal location for hotel investors looking to capitalize on the city's growing popularity.
Springfield's hotels offer a unique blend of comfort, convenience, and affordability, making them an attractive option for travelers. The city's restaurants, like Andy's Frozen Custard, offer a taste of local flavor, while its shopping centers provide a range of retail options. Apartment buildings in Springfield offer a convenient and affordable housing option for residents, while shopping centers like the Battlefield Mall provide a one-stop shopping experience. With its strong economy, diverse industries, and growing population of around 160,000, Springfield is an attractive location for investors looking to tap into the city's hospitality industry. Whether you're a seasoned investor or just starting out, Springfield's hotels for sale offer a unique opportunity to capitalize on the city's growing popularity and strong tourism sector.
What factors should I consider when buying a hotel in Springfield?
When considering buying a hotel in Springfield, Missouri, there are several key factors to take into account, including:
- The local economy, which is driven by industries such as healthcare, manufacturing, retail, education, and tourism, and is home to major employers like Positronic, Bass Pro Shops, and John Q. Hammons Hotels & Resorts.
- The availability of hotels for sale, with 1 listings currently on the market, offering a range of options in terms of size, price, and location, with an average price per square foot of $181 USD and an average size of 18,184 square feet.
- The city's infrastructure and amenities, including City Utilities of Springfield (CU), which provides essential services like electricity, natural gas, water, telecommunications, and transit, as well as major transportation facilities like Springfield-Branson National Airport (SGF) and Interstate 44, which offer connections to St. Louis, Tulsa, Kansas City, and other areas.
It's also important to research the local market trends, including the average cap rate of , and to consider working with a commercial real estate broker who is familiar with the Springfield market and can help you navigate the process of buying a hotel. Additionally, you may want to explore financing options, such as CRE loans, which can provide the necessary funding for your hotel purchase.
How is the value of a hotel for sale typically calculated?
In Springfield, Missouri, the value of a hotel for sale is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the property's income-generating potential, local market conditions, and the overall condition of the hotel. To learn more about the CRE appraisal process and how it affects the value of a hotel, check out our article at CRE appraisals.
In Springfield, where there are currently 1 hotel listings available, the average price per square foot is $181 USD, with an average size of 18,184 square feet. The largest hotel listing available is 18,184 square feet, and the average cap rate is. These metrics provide valuable insights for hotel investors and owners looking to buy or sell a hotel in Springfield.
