Holiday Inn Express 77-key In Lebec, CA

$12,000,000 Holiday Inn Express & Suites Frazier Park featuring 77 keys, $898,619 NOI, and a 6.34% cap rate. Operating at 60.95% occupancy, this IHG Formula Blue 2.0 property offers a turn-key investment with zero to minimal PIP requirements. Built in 2010 and totaling approximately 27,870 square feet on 2.02 acres, the hotel is strategically located directly off Interstate 5 at the base of Tejon Pass, benefiting from over 50,000 vehicles per day between Los Angeles and Bakersfield. The property is the only branded upper-midscale hotel within a 20-mile radius, providing a competitive edge in a market with high barriers to entry due to terrain, zoning, and utility constraints. Key demand drivers include the Outlets at Tejon with 1.5 to 2 million annual visitors, the $600 million Hard Rock Hotel & Casino Tejon development expected to attract over 5 million visitors annually, and outdoor recreation from Mt. Pinos, Los Padres National Forest, and Frazier Mountain. The hotel benefits from year-round lodging demand and limited local competition. Positioned 75 miles south of Los Angeles and 40 miles north of Bakersfield, the property captures transient, tourism, and event-driven demand along one of the busiest corridors in the Western United States, with strong long-term growth tied to regional development projects.