$9,000,000 Holiday Inn Express & Suites Tulsa West – Sand Springs featuring 71 rooms, $860,603 NOI, and an 8.32% cap rate. Operating at 72.66% occupancy with ADR of $119.20 and RevPAR of $86.61, this stabilized IHG-branded asset offers strong in-place cash flow with value-add upside.
Located within the Tulsa metropolitan area along the primary commuter corridor connecting Sand Springs to downtown Tulsa, the hotel benefits from consistent corporate, infrastructure, and regional leisure demand. The property is positioned in a diverse economy supported by energy, manufacturing, aerospace, healthcare, and logistics sectors within a metro population of approximately one million.
Renovated in 2020, the four-story select-service hotel totals approximately 42,300 square feet on 1.48 acres. The property maintains solid occupancy and ADR penetration within its competitive set while benefiting from IHG’s global distribution network and strong corporate reservation contribution.
An estimated PIP of approximately $7,500 per key, totaling around $532,000, provides the opportunity to phase improvements while maintaining operations and drive ADR growth post-renovation. With pro-forma NOI of $915,081 and a pro-forma cap rate of 8.85%, this investment offers measurable upside in a stable Midwest market.
