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Hotel-Motel

Hawthorn Suites by Wyndham Fort Wayne

4919 Lima Rd, Fort Wayne, IN 46808

Listing Price: $6,500,000

Cap Rate
5.83%
Number of Rooms
80
RevPAR
$44
Price/Room
$81,250
RRM
5.12
Year Built
1985

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Hawthorn Suites Fort Wayne (‘Hotel’ or ‘Property’). The Wyndham Hotels-branded Hotel is offered at $6,500,000 or $81,250 per key. The Hawthorn Suites Fort Wayne is an 80-room, extended-stay, midscale Hotel established at 4919 Lima Road, near the intersection of Interstate 69 and Highway 27. The Property is approximately 50,300 square feet across two floors and maintains amenities including an outdoor pool, BBQ grills, business center, and guest laundry facilities. Fort Wayne is situated in the northeast region of Indiana, 18 miles from the Ohio border and 50 miles from the Michigan border. The city is the county seat of Allen County and a major cultural and economic center of northeastern Indiana. With the city’s major employers and popular revenue generators near the Property, this sought-after Hotel benefits from many key industries of the city which include manufacturing, health care, retail trade, finance, and government. Parkview Health and Lincoln Financial Group, two of the city’s largest employers located approximately five miles from the Hotel, are prime revenue drivers for the surrounding area. Other major employers responsible for a significant portion of the workforce include Raytheon, Exelis, Regal Beloit, Dana Holding Corporation, Fruehauf Corporation, General Electric, International Harvester, and Tokheim, among several others help bring additional revenue to the Hotel through an increase in transient business. Leisure demand drivers for the city include Allan County War Memorial Coliseum (2.1 miles), Indiana University Fort Wayne (2.8 miles), Purdue University Fort Wayne (4.5 miles), Fort Wayne International Airport (12.0 miles), and the Fort Wayne Children’s Zoo (1.7 miles). In 2021, the extended-stay Hotel recorded room revenues of over $1,270,000. The property is currently renovating 16 rooms (2 buildings) that will come online later in 2022. Currently, the RevPAR is below the Hotel’s historic average, but with an experienced owner-operator, the property will be able to achieve maximum revenues and increase net operating income. The property has multiple buildings and can also be a potential conversion to an apartment building, with full kitchenettes in every unit.

Investment Highlights

  • Two-Story, 80-Room, Extended-Stay Hotel with Kitchenettes, within the Fort Wayne Metropolitan Area
  • Located in a Strong Commercial Hub with Strategic Highway Position Offering Excellent Visibility
  • Nearby Demand Drivers Include Allan County War Memorial Coliseum, Purdue University Fort Wayne, Fort Wayne International Airport, and Indiana University Fort Wayne
  • Operational Upside for Prospective Hands-On Owner-Operator to Capitalize on Expected RevPAR Growth
  • Possible Conversion to Apartments with Multiple Buildings and Close to 3 Acres of Land

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Hotel-Motel

Hawthorn Suites by Wyndham Fort Wayne

Listing Price: $6,500,000

Cap Rate
5.83%
Number of Rooms
80
RevPAR
$44
Price/Room
$81,250
RRM
5.12
Year Built
1985

Investment Highlights

  • Two-Story, 80-Room, Extended-Stay Hotel with Kitchenettes, within the Fort Wayne Metropolitan Area
  • Located in a Strong Commercial Hub with Strategic Highway Position Offering Excellent Visibility
  • Nearby Demand Drivers Include Allan County War Memorial Coliseum, Purdue University Fort Wayne, Fort Wayne International Airport, and Indiana University Fort Wayne
  • Operational Upside for Prospective Hands-On Owner-Operator to Capitalize on Expected RevPAR Growth
  • Possible Conversion to Apartments with Multiple Buildings and Close to 3 Acres of Land

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Hawthorn Suites Fort Wayne (‘Hotel’ or ‘Property’). The Wyndham Hotels-branded Hotel is offered at $6,500,000 or $81,250 per key. The Hawthorn Suites Fort Wayne is an 80-room, extended-stay, midscale Hotel established at 4919 Lima Road, near the intersection of Interstate 69 and Highway 27. The Property is approximately 50,300 square feet across two floors and maintains amenities including an outdoor pool, BBQ grills, business center, and guest laundry facilities. Fort Wayne is situated in the northeast region of Indiana, 18 miles from the Ohio border and 50 miles from the Michigan border. The city is the county seat of Allen County and a major cultural and economic center of northeastern Indiana. With the city’s major employers and popular revenue generators near the Property, this sought-after Hotel benefits from many key industries of the city which include manufacturing, health care, retail trade, finance, and government. Parkview Health and Lincoln Financial Group, two of the city’s largest employers located approximately five miles from the Hotel, are prime revenue drivers for the surrounding area. Other major employers responsible for a significant portion of the workforce include Raytheon, Exelis, Regal Beloit, Dana Holding Corporation, Fruehauf Corporation, General Electric, International Harvester, and Tokheim, among several others help bring additional revenue to the Hotel through an increase in transient business. Leisure demand drivers for the city include Allan County War Memorial Coliseum (2.1 miles), Indiana University Fort Wayne (2.8 miles), Purdue University Fort Wayne (4.5 miles), Fort Wayne International Airport (12.0 miles), and the Fort Wayne Children’s Zoo (1.7 miles). In 2021, the extended-stay Hotel recorded room revenues of over $1,270,000. The property is currently renovating 16 rooms (2 buildings) that will come online later in 2022. Currently, the RevPAR is below the Hotel’s historic average, but with an experienced owner-operator, the property will be able to achieve maximum revenues and increase net operating income. The property has multiple buildings and can also be a potential conversion to an apartment building, with full kitchenettes in every unit.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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