1885 Welcome Way, Monroe, MI 48162
89 Room Hotel | Monroe, MI 48162 | $3,700,000 ($41,573/Room) | 16.67% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $3,700,000
- Property Type
-
Hospitality
- Square Feet
- 33,414 SF
Listing Contacts
John Glasnak
Verified Profile
- Property Info
Property Overview
The property is a former Americas Best Value Inn and was converted to a Travelodge in March 2022 . Renovations continued until the first quarter of 2023.
2023 revenue i$100,000 per month ending May
Recent improvements include a new roofs, paint on all the buildings exteriors, new landscaping was added along awnings, exterior lighting and signage. The parking lot was replaced with new asphalt including the driveway entrance to the property.
Guest Rooms: new laminate flooring in the bathrooms, vanities, paint new mattress sets and furniture upgrades
Area Overview: Located on I-75, exit 15 / Dixie Highway and within easy reach of Detroit’s and Toledo, Ohio major attractions. The exit includeds two major truck stops, fast-food outlets, International House of Pancakes and Cracker Barrel
The property features an updated lobby, whirlpool suites, kitchenettes, micro-waves / refrigerators in all rooms, guest laundry , vending area.
2023 revenue ending May is $100,000 per month
2023 revenue i$100,000 per month ending May
Recent improvements include a new roofs, paint on all the buildings exteriors, new landscaping was added along awnings, exterior lighting and signage. The parking lot was replaced with new asphalt including the driveway entrance to the property.
Guest Rooms: new laminate flooring in the bathrooms, vanities, paint new mattress sets and furniture upgrades
Area Overview: Located on I-75, exit 15 / Dixie Highway and within easy reach of Detroit’s and Toledo, Ohio major attractions. The exit includeds two major truck stops, fast-food outlets, International House of Pancakes and Cracker Barrel
The property features an updated lobby, whirlpool suites, kitchenettes, micro-waves / refrigerators in all rooms, guest laundry , vending area.
2023 revenue ending May is $100,000 per month
Property Details
- Class
- C
- Year Built/Renovated
- 1978/2022
- Stories
- 1
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 145,055 SF
- Units
- 89
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