Description:

Located across from Oklahoma State University (OSU), this 139 room, full service hotel currently operates as a Quality Inn. The property is a mix of interior and exterior corridor rooms located on a vast 6.86 acre parcel. The income potential is very significant given its excellent proximity to OSU and its 20,285 person student body that supports it's nationally known sports and academic programs. Beyond the diverse mix of King, Double and Suite rooms, the property has a full service restaurant, nightclub, breakfast area, indoor pool, workout facility and game area. With its 4,270+/- sq feet of meeting and banquet space, this hotel offers the largest hotel facilities in Stillwater. Site improvements include an asphalt and concrete paved parking areas with 226 spaces, high visibility signage, landscaping and yard lighting. Originally built in 1977, the last major renovation was in the 1990's. There is significant upside for an operator to invest in this property and enjoy the long term benefits of owning such a well-located hospitality property. The Quality Inn franchise agreement does not convey with the property.

Directions:

From OKC Airport (Will Rogers World Airport)- take Meridian to I-40 East. I-40 to I-35 North. I-35 to Exit 174 (Highway 51) east. Go 13 miles, hotel is on south.

From Tulsa International Airport- take Highway 11 South to US-412 West. Go west on US-412 for 56 miles then exit onto Stillwater Y Exit. Travel another seven miles. Exit south onto Perkins Road for seven miles. Go west on Highway 51 (6th Ave.) for two miles, hotel on south.

From Kansas- take I-35 south to Exit 174 (Highway 51) East. Go 13 miles, hotel on south.

Summary of Terms:

10% Buyers Premium. No representations or warranties, expressed, written or implied by the Seller or Auctioneer. All property is being sold "AS-IS, WHERE-IS". In order to bid at the auction, a non-refundable deposit of 10% ($150,000 minimum) of the purchase is required.  Closing within 30 days of Court approval of the sale; District Court of Payne County, State of Oklahoma, in Case No. CJ-2010-15. 1.5% Broker participation invited. Complete terms and conditions will be provided prior to auction day.

Effective March 24, 2010, NCA has learned that this auction will require Court approval and will not be sold absolute.

To receive a Property Information Package, complete the Confidentiality Agreement in the documents file above, sign and fax it to 918-895-7076. For more information, call 877-895-7077.

Stephen Karbelk, Broker #156171
Joseph DePalma, Receiver