Hotel-Motel

Econolodge Canton Michigan

40500 Michigan Ave, Canton, MI 48188

Listing Price: $3,150,000

Cap Rate
6.30%
Number of Rooms
83
Gross SF
88,862
Price/Room
$37,952
Price/Gross SF
$35.45
Year Built
1988

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 83 room Econo Lodge located in Canton, Michigan, a suburb of Detroit. The Econo Lodge is a 1988-build, two-story, exterior corridor property located near Interstate 275, providing ease of access for commerce and tourism. Econo Lodge Canton provides the opportunity for a new owner to acquire a 83 room hotel built with potential to realize RevPAR growth through hands on management and targeted marketing.

Investment Highlights

  • Potential for six months of principle and interest payments made by SBA, if SBA 7a financing is obtained by September 27, 2020.
  • Property is located just off of Interstate 275.
  • Comparably low impact from COVID-19 compared to other properties.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

Hotel-Motel

Econolodge Canton Michigan

Listing Price: $3,150,000

Cap Rate
6.30%
Number of Rooms
83
Gross SF
88,862
Price/Room
$37,952
Price/Gross SF
$35.45
Year Built
1988

Investment Highlights

  • Potential for six months of principle and interest payments made by SBA, if SBA 7a financing is obtained by September 27, 2020.
  • Property is located just off of Interstate 275.
  • Comparably low impact from COVID-19 compared to other properties.

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 83 room Econo Lodge located in Canton, Michigan, a suburb of Detroit. The Econo Lodge is a 1988-build, two-story, exterior corridor property located near Interstate 275, providing ease of access for commerce and tourism. Econo Lodge Canton provides the opportunity for a new owner to acquire a 83 room hotel built with potential to realize RevPAR growth through hands on management and targeted marketing.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

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