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Hotel-Motel

Quality Inn and Suites Downtown Green Bay

321 S Washington St, Green Bay, WI 54301

Listing Price: $3,950,000

Cap Rate
9.10%
Number of Rooms
114
Gross SF
53,201
Price/Room
$34,649
Price/Gross SF
$74.25
Year Built
1958

Investment Overview

Marcus & Millichap is proud to have been chosen as exclusive advisor and broker in regard to the marketing effort of the Quality Inn & Suites Hotel in Downtown Green Bay. It is an 89 room, interior corridor, 2-story hotel. The property benefits from an additional 25 extended-stay rooms with typical month to month rates. Because of how well the extended stay model has performed current ownership has continued to convert rooms within the 89 room hotel count in to extended stay units to serve their customer's needs. The property became a Quality Inn and Suites in 2005 and has consistently been top ranked in Choice's system while achieving Gold Standard the last 3 years. The hotel has an elevator, indoor heated pool, large whirlpool, wading pool for children and families, business center, complimentary breakfast, 2 meeting rooms, and a convenience store stocked for all guests. This is a legacy property whose ownership has remained in the same family since it was built. Its heritage has deep community ties as the original part of the building constructed in 1959 once housed Green Bay Packers great Vince Lombardi's personal office as well as the Packers' ticket sales office; the hotel portion of the property was constructed after that. The property is composed of a total of 114 total rooms. All rooms are in one building which is broken down into two sections. One section houses 89 rooms which comprise the Quality Inn & Suites portion, the other section features 25 extended stay units; the revenue from the 25 extended stay units is not subject to franchise fees as they are ran separate from the Quality Inn. The hotel is priced at 2.5 times room revenue and under $35,000 per room; both attractive metrics for a purchaser. It is currently operating at a profit margin of just over 20%, given the lucrative nature of the extended stay model mixed with the fact that these units are operating separate from the franchise affiliated 89 rooms it is apparent this acquisition offers operational upside for a new owner. The hotel is located in the heart of Downtown Green Bay and is only 3 miles from Lambeau Field, 4.3 miles to Bay Park Square Mall, and 2.9 miles from Bay Beach Amusement Park. Adjacent to the Fox River, this downtown location benefits from the night life, wedding industry, and theatrical performances.

Investment Highlights

  • High Barrier to Entry Downtown Green Bay Location with Ample Free Parking
  • Desirable Midscale Limited Service Hotel in A Nearly Irreplaceable Downtown Location
  • Offered at 2.5 Times Room Revenue and Under $35,000 Per Room
  • Legacy Property Owned by the Same Family Since Development with the Property Itself Boasting Historical Ties to the Green Bay Packers
  • Choice Gold Award Quality Standard Recipient 3 Years in a Row
  • Operational Upside for Experienced Hotelier to Improve Profit Margin
  • Large Surface Parking Lot Serves as an Income Generator with Adjacent Businesses Leasing Parking Spaces
  • Limited Risk Exposure as the Extended Stay Revenue and Parking Lot Income Nearly Cover the Entire Mortgage Payment

Exclusively Listed By

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Joseph Ferguson

    Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

  • Jared Plamann

    Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s) WI: 56163-90

    Wisconsin

Hotel-Motel

Quality Inn and Suites Downtown Green Bay

Listing Price: $3,950,000

Cap Rate
9.10%
Number of Rooms
114
Gross SF
53,201
Price/Room
$34,649
Price/Gross SF
$74.25
Year Built
1958

Investment Highlights

  • High Barrier to Entry Downtown Green Bay Location with Ample Free Parking
  • Desirable Midscale Limited Service Hotel in A Nearly Irreplaceable Downtown Location
  • Offered at 2.5 Times Room Revenue and Under $35,000 Per Room
  • Legacy Property Owned by the Same Family Since Development with the Property Itself Boasting Historical Ties to the Green Bay Packers
  • Choice Gold Award Quality Standard Recipient 3 Years in a Row
  • Operational Upside for Experienced Hotelier to Improve Profit Margin
  • Large Surface Parking Lot Serves as an Income Generator with Adjacent Businesses Leasing Parking Spaces
  • Limited Risk Exposure as the Extended Stay Revenue and Parking Lot Income Nearly Cover the Entire Mortgage Payment

Investment Overview

Marcus & Millichap is proud to have been chosen as exclusive advisor and broker in regard to the marketing effort of the Quality Inn & Suites Hotel in Downtown Green Bay. It is an 89 room, interior corridor, 2-story hotel. The property benefits from an additional 25 extended-stay rooms with typical month to month rates. Because of how well the extended stay model has performed current ownership has continued to convert rooms within the 89 room hotel count in to extended stay units to serve their customer's needs. The property became a Quality Inn and Suites in 2005 and has consistently been top ranked in Choice's system while achieving Gold Standard the last 3 years. The hotel has an elevator, indoor heated pool, large whirlpool, wading pool for children and families, business center, complimentary breakfast, 2 meeting rooms, and a convenience store stocked for all guests. This is a legacy property whose ownership has remained in the same family since it was built. Its heritage has deep community ties as the original part of the building constructed in 1959 once housed Green Bay Packers great Vince Lombardi's personal office as well as the Packers' ticket sales office; the hotel portion of the property was constructed after that. The property is composed of a total of 114 total rooms. All rooms are in one building which is broken down into two sections. One section houses 89 rooms which comprise the Quality Inn & Suites portion, the other section features 25 extended stay units; the revenue from the 25 extended stay units is not subject to franchise fees as they are ran separate from the Quality Inn. The hotel is priced at 2.5 times room revenue and under $35,000 per room; both attractive metrics for a purchaser. It is currently operating at a profit margin of just over 20%, given the lucrative nature of the extended stay model mixed with the fact that these units are operating separate from the franchise affiliated 89 rooms it is apparent this acquisition offers operational upside for a new owner. The hotel is located in the heart of Downtown Green Bay and is only 3 miles from Lambeau Field, 4.3 miles to Bay Park Square Mall, and 2.9 miles from Bay Beach Amusement Park. Adjacent to the Fox River, this downtown location benefits from the night life, wedding industry, and theatrical performances.

Exclusively Listed By

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Joseph Ferguson

    Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

  • Jared Plamann

    Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s): WI: 56163-90

    Wisconsin

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