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Hotel-Motel

Quality Inn Columbia City

701 W Connexion Way, Columbia City, IN 46725

Listing Price: $2,000,000

Cap Rate
7.20%
Number of Rooms
59
RevPAR
$21
Gross SF
28,338
Price/Room
$33,898
RRM
3.35
Price/Gross SF
$70.58
Year Built
1998

Investment Overview

The Quality Inn Columbia City is a two-story limited service hotel located in the northeastern Indiana town of Columbia City. The hotel was built in 1999 and has 59 keys. The PTACs are maintained in a rolling replacement of five to eight per years. The hotel has been kept in amazing shape considering the age of the building and was fully up to brand standards by the end of 2017. The hotels asking price is $2,000,000, which based on the 2020 P&L equates to a 24% five-year leveraged IRR and a 19% average cash on cash return.

Investment Highlights

  • Priced at $33k Per Key
  • PIP Completed in 2017 | Other Renovations Completed in 2019
  • One Mile to Purdue University Fort Wayne
  • Two Miles to Parkview Whitley Hospital
  • 3 Miles to County Historical Museum, Morsches Park and Vintage Antique Marketplace
  • Excellent Frontage Along U.S. Route 30

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Listing Price: $2,000,000

Cap Rate
7.20%
Number of Rooms
59
RevPAR
$21
Gross SF
28,338
Price/Room
$33,898
RRM
3.35
Price/Gross SF
$70.58
Year Built
1998

Investment Highlights

  • Priced at $33k Per Key
  • PIP Completed in 2017 | Other Renovations Completed in 2019
  • One Mile to Purdue University Fort Wayne
  • Two Miles to Parkview Whitley Hospital
  • 3 Miles to County Historical Museum, Morsches Park and Vintage Antique Marketplace
  • Excellent Frontage Along U.S. Route 30

Investment Overview

The Quality Inn Columbia City is a two-story limited service hotel located in the northeastern Indiana town of Columbia City. The hotel was built in 1999 and has 59 keys. The PTACs are maintained in a rolling replacement of five to eight per years. The hotel has been kept in amazing shape considering the age of the building and was fully up to brand standards by the end of 2017. The hotels asking price is $2,000,000, which based on the 2020 P&L equates to a 24% five-year leveraged IRR and a 19% average cash on cash return.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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