Commercial Property for Sale in Elk City, Oklahoma

Description

Investment Opportunity – 56-Unit Hotel in Elk City, OKLocated at the intersection of I-40 and Main Street, this 56-unit Americas Best Value Inn sits on 5.3 acres in Elk City, Oklahoma. The property features ample truck parking and is within walking distance of a gas station, movie theater, and restaurants—ideal for travelers and truckers alike.The hotel offers multiple revenue streams, including a leased on-site bar and a restaurant space ready for rent. There’s also room for expansion, both within the main building and across the property. A large, unused conference area adds potential for event space or additional guest amenities.Two on-site manager units require minimal updates, perfect for live-in staff. With strong reviews for cleanliness, service, and value, this hotel is a proven performer in a business-friendly location between Oklahoma City and Amarillo.Take advantage of this turnkey opportunity with cash flow and growth potential in a high-traffic area.Elk City, Oklahoma located in Beckham County, Elk City sits between Oklahoma City and Amarillo, Texas, with Interstate 40 (Historic Route 66) running through the city. This makes Elk City a frequent stop for travelers, with more than 25,000 tourists passing through each year.With an estimated population of approximately 11,279, Elk City offers small-town living with access to local amenities and events. Known for its strong sense of community and “Western Oklahoma Hospitality,” residents and visitors alike experience a friendly, welcoming atmosphere. The city supports a variety of small businesses and hosts numerous events throughout the year, including the Home and Garden Expo, dog shows, the annual flea market, summer activities in Ackley Park, and the popular Christmas in the Park.Elk City also features an airport with a 5,000+ ft runway at the Elk City Regional Business Airport. In 2025, the airport saw significant updates, including the construction of a new terminal and hangar, along with taxiway expansion and the demolition of the old terminal to expand apron parking. These upgrades are part of a larger community initiative to improve the airport’s infrastructure. The city also offers an 18-hole public golf course at the Elk City Golf and Country Club.Elk City is served by a public school district that includes four campuses covering grades Pre-K through 12. The district is known for its quality education and strong extracurricular programs. Surrounding communities, such as Merritt, Sayre, Canute, and Hammon, offer additional school district options, often with smaller class sizes. A private school option is also available through Western Oklahoma Christian School, offering faith-based education in the region.Post-secondary education is available nearby through Western Technology Center and Southwestern Oklahoma State University (SWOSU) campuses in Weatherford, Sayre, and Burns Flat.Elk City and Beckham County Statistics Elk City Population: 11,279 Climate: Cold, dry winters and hot, wet summers (weather conditions can change quickly) Median Income: Individuals: $28,268 Families: $34,383Beckham CountyCounty Seat: Sayre, OklahomaPopulation: 22,000+ (2020 Census)Geography: The county covers 904 square miles, of which 902 square miles is land and 2.1 square miles (0.2%) is water, according to the U.S. Census Bureau. It is drained by the North Fork of the Red River and its tributaries, including Timber, Sweetwater, and Buffalo Creeks. The northwestern portion lies within the High Plains, while the remainder falls within the Gypsum Hills physiographic region (source).Median Income:Individuals: $45,726Families: $57,316