Cherokee Queen

61991 E 315 Road, Grove, OK

$1,250,000

Price

8.95%

Cap Rate

$125,363.25

NOI

Gallery
Street
Map
Overview
Cap Rate
8.95%
NOI
$125,363.25
Building Size
16,822 sqft
Lot Area
1.44 acres
Keys
33
Floors
2
Description

The Cherokee Queen Motel & Restaurant is situated on 1.44 acres. Well Maintained Property. With year-round occupancy, this 33 room motel has a furnished living quarters for owner or manager, a one bedroom rental cabin, outdoor pool and large deck for customer enjoyment. There are 5 new studio apartments currently available. Property also features a turn-key restaurant w/ seating for approx. 125. The 1500 Sq Ft. Kitchen is equipped with upscale stainless steel appliances, stoves, hood, cooler, grills and an outside smoker building. Ample Parking. Great Investment!

Property is located South of Downtown Grove across from Honey Creek Bridge overlooking Highway 59. The Neosho River is located on three sides of the property, with the closest distance being .03 miles to the East.

Highlights
  • Fully Equipped Commercial Kitchen
  • Restaurant is walk-in ready
  • One bedroom cabin (rental)
  • 5 Newly Constructed Studio Apartments
  • Apartments are move in ready
  • Apartments are furnished with all new Appliances
  • Newly Remodeled Hotel
  • No Deferred Maintenance
  • NOI does not include Apartments or Restaurant
  • Restaurant Seats 125 People
  • Great Investment Opportunity
Documents
Location
Gallery