3 Acres in Purcell, OK - $4,320,000
Ruby's Inn and Restaurant was established in 1967 an has been family owned and operated continuously ever since. Ruby's is a household name in the Purcell, Oklahoma area and known for their good food and comfortable accommodations. The restaurant seats 100 people and is equipped with a banquet room and large office. All equpipment and inventory sells with the hotel and restaurant. The hotel has 81 units ranging from singles to triple rooms. It is the only hotel in Purcell with a swimming pool and was completely renovated in 2000. The property has a huge parking lot that can accomidate any type vehicle, to include tractor trailers. The hotel has an average occupancy level of 60% and no matter what time you drive by during the day the restaurant will be hopping. The property has a long-term dependable staff and the name "Ruby's" will sell with the property.
LOCATION! LOCATION! LOCATION! T...
LOCATION! LOCATION! LOCATION! This property sits on 3 acres of land right next door to the Purcell Super Wal Mart and about 2 blocks from the I-35 exit 91. This property sits in the middle of a rapidly expanding part of the Purcell area and I-35 corridor. A shopping center with various department stores, Super Wal Mart, McDonalds, Taco Mayo, Braum' s, Purcell Golf Course, McClain County Expo Center and Chickasaw Nation Medical Clinic are located within walking distance. Purcell is located 15 minutes south of Norman, Oklahoma and 30 south of Oklahoma City.
Price: $5,100,000
No. Rooms: 81
Building Size: 30,000 SF
Price/Room: $62,962.96
Property Type: Hotel & Motel
Property Sub-type: Economy/ Limited ServiceAdditional
Sub-types: Restaurant
Property Use Type: Investment
Commission Split: 3%
Cap Rate: 16%
Net Operating Income: $816,000
Average Daily Rate: $55
Average Occupancy: 55%
Corridor: Exterior
Lot Size: 3 Acres
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