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Hotel-Motel

Comfort Suites Plymouth near US-30

2513 N Michigan St, Plymouth, IN 46563

Listing Price: $5,195,000

Cap Rate
12.62%
Number of Rooms
60
RevPAR
$61
Price/Room
$86,583
RRM
3.88
Year Built
2015

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 Comfort Suites Plymouth Near US-30 (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $5,195,000 or $86,583 per key. The Comfort Suites Plymouth is located at 2513 N Michigan Street and is positioned off US Highway 30. Built in 2015 on 1.63 acres, the 60-room, upper-midscale Hotel is comprised of two stories and maintains amenities such as a fitness center, guest laundry facilities, business center, indoor heated pool, vending machines, and truck/RV Parking. Plymouth is located in Marshall County in northern Indiana, about 25 miles south of South Bend and 68 miles west of Fort Wayne. The city acts as the center of commerce for Marshall County, with many jobs in the manufacturing, retail, and service sectors. Major manufacturing employers include Hoosier Racing Tire, Zentis, Oasis Lifestyle, Pregis Innovative Packaging, Pretzels Inc., and the Maax Corporation. Other top employers include St. Joseph Regional Medical, Army National Guard, La Porte Hospital, Swan Lake Resort, and Southwire Electronics Manufacturing. The many entertainment attractions like Marshall County Historical Museum, The Center at Donaldson, River Park Square, Heartland Artists Gallery, Lawrence Lake, and Plymouth Speedway support the transient and leisure demand. In 2021, the Hotel recorded room revenues of over $1.22 million, coupled with an ideal net operating income flow-through of 47.7 percent of total revenue, which equates to over $595 thousand, after a four percent capital replacement reserve. The limited-service Hotel is an ideal investment for an owner-operator who can continue maximizing returns through healthy cash flows and continual RevPAR growth. The Hotel is offered fee simple, unencumbered by a management contract and debt.

Investment Highlights

  • Three-Story, 60-Room, Choice Hotels International Branded-Hotel Built in 2015
  • Excellent Highway Accessibility and Visibility from US Highway 30
  • Large Manufacturing Hub of Northern Indiana with Multiple Headquarters including Oasis Lifestyle, American Containers Incorporated, Arrow Services Incorporated, and Indiana Tool & Manufacturing
  • Other Major Company Headquarters Include Wiers Manufacturing Incorporated and Zentis North America LLC
  • Over $1.22 Million of Room Revenue and 98 Percent RevPAR Penetration through Year-End 2021
  • Offered Fee-Simple, Unencumbered by Management Contract and Debt

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Hotel-Motel

Comfort Suites Plymouth near US-30

Listing Price: $5,195,000

Cap Rate
12.62%
Number of Rooms
60
RevPAR
$61
Price/Room
$86,583
RRM
3.88
Year Built
2015

Investment Highlights

  • Three-Story, 60-Room, Choice Hotels International Branded-Hotel Built in 2015
  • Excellent Highway Accessibility and Visibility from US Highway 30
  • Large Manufacturing Hub of Northern Indiana with Multiple Headquarters including Oasis Lifestyle, American Containers Incorporated, Arrow Services Incorporated, and Indiana Tool & Manufacturing
  • Other Major Company Headquarters Include Wiers Manufacturing Incorporated and Zentis North America LLC
  • Over $1.22 Million of Room Revenue and 98 Percent RevPAR Penetration through Year-End 2021
  • Offered Fee-Simple, Unencumbered by Management Contract and Debt

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 Comfort Suites Plymouth Near US-30 (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $5,195,000 or $86,583 per key. The Comfort Suites Plymouth is located at 2513 N Michigan Street and is positioned off US Highway 30. Built in 2015 on 1.63 acres, the 60-room, upper-midscale Hotel is comprised of two stories and maintains amenities such as a fitness center, guest laundry facilities, business center, indoor heated pool, vending machines, and truck/RV Parking. Plymouth is located in Marshall County in northern Indiana, about 25 miles south of South Bend and 68 miles west of Fort Wayne. The city acts as the center of commerce for Marshall County, with many jobs in the manufacturing, retail, and service sectors. Major manufacturing employers include Hoosier Racing Tire, Zentis, Oasis Lifestyle, Pregis Innovative Packaging, Pretzels Inc., and the Maax Corporation. Other top employers include St. Joseph Regional Medical, Army National Guard, La Porte Hospital, Swan Lake Resort, and Southwire Electronics Manufacturing. The many entertainment attractions like Marshall County Historical Museum, The Center at Donaldson, River Park Square, Heartland Artists Gallery, Lawrence Lake, and Plymouth Speedway support the transient and leisure demand. In 2021, the Hotel recorded room revenues of over $1.22 million, coupled with an ideal net operating income flow-through of 47.7 percent of total revenue, which equates to over $595 thousand, after a four percent capital replacement reserve. The limited-service Hotel is an ideal investment for an owner-operator who can continue maximizing returns through healthy cash flows and continual RevPAR growth. The Hotel is offered fee simple, unencumbered by a management contract and debt.

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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