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Hotel-Motel

Fairfield Inn by Marriott Kalamazoo West

6420 Cracker Barrel Blvd, Kalamazoo, MI 49009

Listing Price: $4,800,000

Cap Rate
7.78%
Number of Rooms
61
RevPAR
$55
Gross SF
35,880
Price/Room
$78,689
Price/Gross SF
$133.78
Year Built
1998

Investment Overview

The Fairfield Inn by Marriott located in Kalamazoo, MI is a 61-room hotel built in 1998 and renovated in 2005. Sitting on 1.60 acres this property is near Western Michigan University, KVCC, Pfizer, and PNC HQ. The Hotel is less than 10 minutes away from the center of Downtown Kalamazoo and sits off I-94 W. PIP (Property Improvement Plan) Completed in 2019. Improvements include: Technology - (Installation of approved REFID/BLE locks, Installation of new Guestroom entertainment platform) Site/Building Exterior - (Re-imaging of porte cochere including pitched standing seam metal roof, exterior renovations (paint, finishes, façade. etc., replacement of exterior graphics & lighting) Hard scape & Parking Areas - (landscaping, repair of parking lot) Landscape/Visual Barriers Miscellaneous Site Features - (dumpster enclosure, gate, trash receptacles, etc.) Lobby - (Central HVAC system, installation of corner market, tables) Breakfast Room - (beverage machines, beverage stations) Exercise Room - (flooring & base, corner guards, plumbed hydration station, etc.) Pool - (indoor furniture, resurfaced, light fixtures, doors, windows, venting grilles) Corridors & Stairwells Guestrooms - (Remote thermostat on wall, dressing mirror, refrigerators, doors, etc.) Guestroom Bath - (modernized bath vanity top, faucets & fixtures)

Investment Highlights

  • The Hotel outperformed the Competitive Set in Occupancy and ADR in 2019; with strong recovery in current performance metrics that are forecasted to have continued growth through 2022.
  • Notable Area Employers: Kalamazoo/Battle Creek International Airport, Bosch's Research & Development Facility, Pfizer, Abbott Labs, Thermo Fisher Scientific, Stryker, General Mills, and Kellogg's.
  • Franchise Agreement extended ten years, there is upside potential for new ownership to manage expense ratios to align with industry standards resulting in an increase in Net Operating Income.

Exclusively Listed By

Hotel-Motel

Fairfield Inn by Marriott Kalamazoo West

Listing Price: $4,800,000

Cap Rate
7.78%
Number of Rooms
61
RevPAR
$55
Gross SF
35,880
Price/Room
$78,689
Price/Gross SF
$133.78
Year Built
1998

Investment Highlights

  • The Hotel outperformed the Competitive Set in Occupancy and ADR in 2019; with strong recovery in current performance metrics that are forecasted to have continued growth through 2022.
  • Notable Area Employers: Kalamazoo/Battle Creek International Airport, Bosch's Research & Development Facility, Pfizer, Abbott Labs, Thermo Fisher Scientific, Stryker, General Mills, and Kellogg's.
  • Franchise Agreement extended ten years, there is upside potential for new ownership to manage expense ratios to align with industry standards resulting in an increase in Net Operating Income.

Investment Overview

The Fairfield Inn by Marriott located in Kalamazoo, MI is a 61-room hotel built in 1998 and renovated in 2005. Sitting on 1.60 acres this property is near Western Michigan University, KVCC, Pfizer, and PNC HQ. The Hotel is less than 10 minutes away from the center of Downtown Kalamazoo and sits off I-94 W. PIP (Property Improvement Plan) Completed in 2019. Improvements include: Technology - (Installation of approved REFID/BLE locks, Installation of new Guestroom entertainment platform) Site/Building Exterior - (Re-imaging of porte cochere including pitched standing seam metal roof, exterior renovations (paint, finishes, façade. etc., replacement of exterior graphics & lighting) Hard scape & Parking Areas - (landscaping, repair of parking lot) Landscape/Visual Barriers Miscellaneous Site Features - (dumpster enclosure, gate, trash receptacles, etc.) Lobby - (Central HVAC system, installation of corner market, tables) Breakfast Room - (beverage machines, beverage stations) Exercise Room - (flooring & base, corner guards, plumbed hydration station, etc.) Pool - (indoor furniture, resurfaced, light fixtures, doors, windows, venting grilles) Corridors & Stairwells Guestrooms - (Remote thermostat on wall, dressing mirror, refrigerators, doors, etc.) Guestroom Bath - (modernized bath vanity top, faucets & fixtures)

Exclusively Listed By

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