Property Overview
• Asking price recently reduced by $1,000,000
• 1/2 mile from 2028 Olympic Rowing Venue
• Over $10B in ongoing development in the immediate area
• 6.3 acres of total land
• Hotel / Adaptive Reuse / Development - multiple investment options
This recently price reduced 192-unit, interior corridor hotel is currently operating as independent flag. Located in the newly christened Horizon District of Bricktown in Downtown Oklahoma City, the hotel is immediately off I-40 and approximately 400 yards from the new First Americans Museum (FAM) and OKANA resort site. The first phase of this project was the FAM at $300M. The current stage is over $400M and will include a world class water park and 400-room high rise hotel. It will be a preeminent tourist destination and World Class Resort when open in 2025. With several additional phases planned for coming years, this area will continue to grow in popularity and traffic. The hotel is also within walking distance to the Boathouse District and Bricktown, including many restaurants, shopping and entertainment venues. The new Oklahoma City Convention Center opened in 2022 and is located less than 1.5 miles west of the hotel. The site of the newly approved tallest building in North America, Legends Tower is one mile west. Will Rogers World Airport is a short 15 minute Uber ride.
In addition to the adjacent OKANA resort, there are nearly another $6B in ongoing developments within a little over a mile from the hotel. These include The Boardwalk, Oklahoma Hospital OU Medical expansion, The Convergence office/research/housing, as well as many others. Future potential development includes a world class level aquarium and the possible off venue hosting of the 2028 White Water Rafting and various other outdoor water sports at the existing facility on the Oklahoma River.
The hotel features various amenities including a shuttered restaurant and bar, a central outdoor park area with outdoor pool and play area, business center, meeting rooms, large ballroom/convention area and guest laundry, etc. Approximately 100 of the rooms were renovated to Ramada standards several years ago. Most other rooms have been stripped and are ready to begin renovation.
This prime location is being offered at essentially the land value. However, the large building and oversize lot would also be ideal as an alternate use. Apartments, affordable housing, and senior housing are all viable options, as is the removal of the existing improvements and redevelopment of the 6.3 acre lot.
Property Highlights
| Asking Price | $4,990,000 |
| Location | I-40 |
| Property Description | Limited Service |
| Number of Rooms | 192 |
| Major Source of Business | Business, Downtown, First Americans Museum, Traveler, Transient, University, Corporate & Retail |
| Site Size | +/- 6.312 |
| Year Built |
1975 |
| Last Year Renovated |
2019 |
| Common Area Amenities | Breakfast area, business center, meeting rooms, guest laundry, indoor pool & hot tub |