Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2285/ Marcus & Millichap is proud to present the exclusive opportunity to acquire the 53-room Comfort Suites in Perrysburg, Ohio (the “Property”). The three-story hotel was built in 2006 and is strategically located at 27450 Helen Dr, Perrysburg, OH, one exit south from where I-75 and the Ohio Turnpike (I-80/90) intersect with more than 192,000 vehicles per day. The hotel is absentee owned/managed and will be delivered unencumbered of debt or management. The hotel will receive a new license upon completion of a PIP to replace case goods and cosmetic refresh of rooms and bathrooms which are estimated around $400,000. The hotel currently operates at $68.35 RevPAR, $1,300,751 in room revenues and generates a net operating income of $392,978. Upon completion of the PIP - We expect the hotel to exceed Pre-Covid Revenues of $1.37 Million dollars and be well positioned to increase ADR to $88 with the refreshed guest experience to potential new transient customers visiting or passing through its strategic location. The Property represents an attractive opportunity to acquire a recently constructed hotel with excellent operating metrics for an owner operator to realize $484,691 in Net operating Income after completion of PIP. The Property benefits from its highly accessible location immediately off I-75 and is the next exit to the Ohio Turnpike (I-80/90) and I-475. The Hotel is less than 15 minutes from a number of demand generators including the GM Plant, University of Toledo, ProMedica Hospital Systems, Owens-Illinois (O-I), FCA US LLC, Owens Corning, and countless manufacturing and industries in the area. The hotel is also just a 15-minute drive to the Toledo Zoo & Aquarium, Downtown Toledo, Bowling Green University (17K students) and University of Toledo (12K students).