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Hotel / Motel For Sale: Best Western Fostoria Inn & Suites (Fostoria, OH)

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Property Information

  • Price (IN USD $):
  • Address: 1690 North County Line Street Fostoria, OH 44830
  • For Sale/Auction?: Sale
  • Rooms: 52
  • State: Ohio
  • Buildings: 1
  • Country: USA
  • City: Fostoria
  • Area ( Sq.Ft. ): 78,800 Sq. Ft.
  • Zip Code: 44830
  • Property ID : 3564

Property Description

INVESTMENT OVERVIEW

An opportunity to own and operate a 52 room interior corridor Best Western in Fostoria Ohio. Fostoria, Ohio is located just 2 hours from Detroit and Cleveland. The hotel built in 1998 was originally a Holiday Inn Express and has a shingle roof, 2 story wood frame, asphalt parking lot, and interior corridors. The property has common area amenities: vending machines, free breakfast, free wifi, meeting room, ice machine, indoor heated swimming pool/hot tub, exercise room and business center. The guest rooms have new case goods, bedding, in-room safe, hairdryer, flat screen TV, phone, clock radio, jacuzzi suites, pullout sofa, microwave/refrigerator, and iron/ironing board. The property has November 2013 trailing 12 month revenues of $690,119 and lags it comp set in revpar by 23.2 percent. The property currently has absentee ownership and provides an aggressive  operator to signficantly cut expenses since labor payroll is over $216,000 per year and currently has a full time manager.

Additional Features

INVESTMENT HIGHLIGHTS

52 Rooms-Interior Corridor
Recently Renovated - Minimal PIP
$13,272 per Key in Revenues
Two Hours from Cleveland and Detroit
Absentee Ownership
Upside Potential
12.15 Percent Average Cap Rate
Payback in 3.5 Years

For Sale by Agent

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Alexandre Duong

Listing Details :
Listed on : 10:10 am
Property Id : #3564

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Motel Industry located at 219 Hart Avenue , Greenville, Ohio 45331, USA . Reviewed by 29 customers rated: 5 / 5