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Hotel-Motel

SureStay Hotel By Best Western New Buffalo

11539 O'Brien Ct, New Buffalo, MI 49117

Listing Price: Request For Offer

Number of Rooms
90
RevPAR
$14
Year Built
1988

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 SureStay Hotel New Buffalo (‘Hotel’ or ‘Property’). The Best Western-branded Hotel will be sold on a call for offers basis; for more information, please contact the listing agent. SureStay New Buffalo is located at 11539 O’Brien Court in New Buffalo, Michigan, just off Interstate 94. The 90-room, two-story Property was built in 1988 and is situated on a 3.3-acre lot. Maintaining approximately 66,578 square feet of interior space, the Hotel provides a wide variety of common area amenities including a guest laundry facility, business center, pool table, putting green, electric vehicle charging, and parking that accommodates trucks and RVs. Forming a natural harbor at the mouth of the Galien River on Lake Michigan, New Buffalo is a popular resort town with a proximal location to the Chicago Metropolitan Area. New Buffalo’s economy is primarily anchored by the avid tourism to the region, largely spurred by the Four Winds Casino Resort and Blue Chip Casino. Both casinos maintain an array of restaurants, bars, game floors, spas, and a multi-purpose event center. Outside of these massive tourism generators, the New Buffalo Public Beach, Indiana Dunes State Park, and Lighthouse Place Premium Outlets supply most of the tourist activity. Despite being a destination city for tourists, New Buffalo reports significant economic contributions from the education, arts, entertainment, and recreation industrial sectors. With South Ben Airport less than 30 miles from the Hotel, this popular city is readily accessible to those traveling great distances. In 2021, the Hotel recorded room revenues of over $431 thousand, coupled with a net operating income flow-through of 19.3 percent of total revenue, which equates to over $83 thousand, after a four percent capital replacement reserve. Through twelve-month June 2022, the Hotel recorded a 30 percent RevPAR penetration index, presenting a major upside opportunity for a new investor to increase revenues through revenue management strategies. The limited-service Hotel is an ideal investment for an owner-operator who can maximize returns through strengthening RevPAR and increasing net operating income.

Investment Highlights

  • Two-Story, 90-Room, Limited-Service, Best Western-Branded Hotel
  • Expected to Trade Below Replacement Cost
  • Excellent Highway Accessibility from Interstate 94
  • Surrounded by a Multitude of Leisure Demand Generators such as Four Winds Casino and Blue Chip Casino, Along with New Buffalo Public Beach, Indiana Dunes State Park, Lighthouse Place Premium Outlets
  • Trailing Twelve-Month June 2022 STR Report Recorded a 30 Percent RevPAR Penetration Index, Leaving Substantial Upside for a New Owner

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Hotel-Motel

SureStay Hotel By Best Western New Buffalo

Listing Price: Request For Offer

Number of Rooms
90
RevPAR
$14
Year Built
1988

Investment Highlights

  • Two-Story, 90-Room, Limited-Service, Best Western-Branded Hotel
  • Expected to Trade Below Replacement Cost
  • Excellent Highway Accessibility from Interstate 94
  • Surrounded by a Multitude of Leisure Demand Generators such as Four Winds Casino and Blue Chip Casino, Along with New Buffalo Public Beach, Indiana Dunes State Park, Lighthouse Place Premium Outlets
  • Trailing Twelve-Month June 2022 STR Report Recorded a 30 Percent RevPAR Penetration Index, Leaving Substantial Upside for a New Owner

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 SureStay Hotel New Buffalo (‘Hotel’ or ‘Property’). The Best Western-branded Hotel will be sold on a call for offers basis; for more information, please contact the listing agent. SureStay New Buffalo is located at 11539 O’Brien Court in New Buffalo, Michigan, just off Interstate 94. The 90-room, two-story Property was built in 1988 and is situated on a 3.3-acre lot. Maintaining approximately 66,578 square feet of interior space, the Hotel provides a wide variety of common area amenities including a guest laundry facility, business center, pool table, putting green, electric vehicle charging, and parking that accommodates trucks and RVs. Forming a natural harbor at the mouth of the Galien River on Lake Michigan, New Buffalo is a popular resort town with a proximal location to the Chicago Metropolitan Area. New Buffalo’s economy is primarily anchored by the avid tourism to the region, largely spurred by the Four Winds Casino Resort and Blue Chip Casino. Both casinos maintain an array of restaurants, bars, game floors, spas, and a multi-purpose event center. Outside of these massive tourism generators, the New Buffalo Public Beach, Indiana Dunes State Park, and Lighthouse Place Premium Outlets supply most of the tourist activity. Despite being a destination city for tourists, New Buffalo reports significant economic contributions from the education, arts, entertainment, and recreation industrial sectors. With South Ben Airport less than 30 miles from the Hotel, this popular city is readily accessible to those traveling great distances. In 2021, the Hotel recorded room revenues of over $431 thousand, coupled with a net operating income flow-through of 19.3 percent of total revenue, which equates to over $83 thousand, after a four percent capital replacement reserve. Through twelve-month June 2022, the Hotel recorded a 30 percent RevPAR penetration index, presenting a major upside opportunity for a new investor to increase revenues through revenue management strategies. The limited-service Hotel is an ideal investment for an owner-operator who can maximize returns through strengthening RevPAR and increasing net operating income.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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