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Hotel-Motel

Super 8 Goshen

2628 Lincolnway E, Goshen, IN 46526

Listing Price: $2,875,000

Cap Rate
7.82%
Number of Rooms
52
RevPAR
$33
Gross SF
22,880
Price/Room
$55,288
RRM
3.95
Price/Gross SF
$125.66
Year Built
2001

Investment Overview

The Super 8 hotel is in northeastern Indiana in the industrial town of Goshen. The hotel was built in 2001 and has 52 keys and an apartment plus a newer garage and located on 2.2 acres. The beds were all new in 2008 and the roof is only 5 or 6 years old. The PTACs are maintained in a rolling replacement of 5 to 8 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 Super 8 Goshen is located in Goshen, Indiana, less than 30 miles from the South Bend market, which benefits from its central location, with access to 80% of the U.S. population within a one-day drive. South Bend is also home to several institutions of higher education, including The University of Notre Dame, St. Marys College and Holy Cross College. Additionally, the market is home to manufacturing headquarters for AM General and SF Motors.

Investment Highlights

  • PIP Completed in 2019
  • Several Capital Improvements Made Since January 2020
  • Priced at $57k Per Key
  • 3 Miles to Goshen Hospital and Goshen College
  • 4 Miles to Elkhart County Fairgrounds

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Listing Price: $2,875,000

Cap Rate
7.82%
Number of Rooms
52
RevPAR
$33
Gross SF
22,880
Price/Room
$55,288
RRM
3.95
Price/Gross SF
$125.66
Year Built
2001

Investment Highlights

  • PIP Completed in 2019
  • Several Capital Improvements Made Since January 2020
  • Priced at $57k Per Key
  • 3 Miles to Goshen Hospital and Goshen College
  • 4 Miles to Elkhart County Fairgrounds

Investment Overview

The Super 8 hotel is in northeastern Indiana in the industrial town of Goshen. The hotel was built in 2001 and has 52 keys and an apartment plus a newer garage and located on 2.2 acres. The beds were all new in 2008 and the roof is only 5 or 6 years old. The PTACs are maintained in a rolling replacement of 5 to 8 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 Super 8 Goshen is located in Goshen, Indiana, less than 30 miles from the South Bend market, which benefits from its central location, with access to 80% of the U.S. population within a one-day drive. South Bend is also home to several institutions of higher education, including The University of Notre Dame, St. Marys College and Holy Cross College. Additionally, the market is home to manufacturing headquarters for AM General and SF Motors.

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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