Hospitality Business for Sale in Olney, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Olney, IL 62450
  • Year built: 1995

Description

As the exclusive representative of the seller, Marcus & Millichap is pleased to present for sale to qualified investors the Super 8 by Wyndham Olney (‘Hotel’ or ‘Property’) located at 425 S West Street in Olney, Illinois. The economy, Wyndham-branded Hotel is offered at $1,995,000 or $48,659 per key. Situated on approximately 1.63 acres, the Property features 41 guest rooms across two stories totaling approximately 22,380 square feet. The Hotel features fully renovated guestrooms, bathrooms, and public spaces, meaning there should not be any Property Improvement Plan (PIP) necessary at sale. Catering to both transient and extended-stay guests, the Property offers a functional amenity package including a business center, 24-hour front desk, RV and truck parking, pet-friendly accommodations, and complimentary breakfast and coffee. The Property is well-positioned at the intersection of Illinois Routes 130 and 250, providing convenient access for travelers moving between St. Louis, Missouri, and Louisville, Kentucky. The Property benefits from proximity to a variety of local and regional demand generators that support consistent occupancy. Key drivers include Olney Central College, which generates academic and event-related travel, and Carle Richland Memorial Hospital, supporting healthcare-related lodging demand. Additional leisure demand is driven by nearby attractions such as East Fork Lake and Trails, Olney City Park, and the Robert Ridgeway Memorial Arboretum and Bird Sanctuary; as well as cultural destinations including the South Elliott Street Historic District, Carnegie Building Museum, and Richland Heritage Museum. The Hotel is also located near Fox Creek Winery and Olney-Noble Airport, further enhancing both leisure and regional travel demand. Olney is a city in southeastern Illinois and the county seat of Richland County, with a population of approximately 8,701 residents. Serving as a regional hub for the surrounding rural communities, Olney plays a vital ro

Market Context

This hospitality in Olney, IL is listed for sale. It is offered at an approximate 1.0% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 1995. It has been on the market for 54 days. Compare it against other hospitality listings for sale in Olney, IL — <a href="/search/sale/hospitality/illinois/olney">view the full market</a>.

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