Holiday Inn Express & Suites Southfield
91 Room Hotel | Southfield, MI 48075 | $10,300,000 ($113,187/Room) | 8% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $10,300,000
- Property Type
-
Hospitality
- Square Feet
- 58,989 SF
Listing Contacts
Jasdeep Sohi
Verified Profile
Dhaval Taylor
Verified Profile
- Property Info
Property Overview
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale the Holiday Inn Express & Suites Southfield - Detroit (‘Hotel’ or ‘Property’) located in Southfield, Michigan. The property boasts exceptional performance metrics, with occupancy consistently exceeding the comp set by 5.8 percent, ADR surpassing by 8.3 percent, and RevPAR outperforming by 20.9 precent, showcasing its strong market positioning. Various common area amenities at the Property include an indoor heated pool with whirlpool hot tub, breakfast area, fitness center, four meeting rooms, laundry facility, and business center. Situated in the vibrant city of Southfield, Michigan, the hotel benefits from its strategic location within the Detroit metropolitan area. Southfield is renowned for its thriving business landscape, cultural richness, and educational excellence, making it an attractive destination for both business and leisure travelers. The city offers a diverse array of cultural and entertainment options, including theaters, art galleries, and music venues. Visitors can enjoy live performances at prestigious venues like the Detroit Opera House and catch exciting games at nearby stadiums like Ford Field and Little Caesars Arena. Southfield's culinary scene is equally impressive, offering a wide range of dining options from local favorites to international delicacies. Lawrence Technological University adds to the city's appeal by fostering a vibrant learning environment. Additionally, Southfield's central location provides easy access to Detroit's iconic attractions such as the Detroit Institute of Arts, Detroit Historical Museum, and Detroit Science Center. The proximity to Detroit Metro Airport further enhances Southfield's convenience for travelers, making the Holiday Inn Express & Suites an ideal choice for accommodations while exploring the dynamic Detroit metropolitan area.
Property Details
- Class
- B
- Year Built/Renovated
- 2001/2019
- Stories
- 3
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 133,729 SF
- Units
- 91
Highlights
- Three-Story, 91-room, IHG-Branded, Interior-Corridor Hotel, All Suites, Recently Renovated.
- The Property HIEX consistently outperforms comp set: Occupancy 62.0 Percent, ADR $134.04, RevPAR $83.10, reflecting strong market positioning
- Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt.
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