101 Sky Harbour Dr, La Crosse, WI 54603
148 Room Hotel | La Crosse, WI 54603 | $500,000 ($3,378/Room)
For Sale
Active
Asking Price $500,000
- Property Type
-
Hospitality
- Square Feet
- 74,000 SF
Listing Contacts
- Property Info
Property Overview
RI Marketplace Online Auction Sept 23-25, 2024
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace
Marcus & Millichap is pleased to present Norwood Inn & Suites La Cross, a well-situated hotel located off I-90 and adjacent to La Crosse Regional Airport. The property presents a new investor or operator with a unique value-add upside through gradual improvements to the rooms, common areas, and the restaurant to offer additional ADR.
The former Days Inn franchise is a 148-room property with an interior corridor style and two stories. The building rests on an oversized 5.61-acre parcel with 372 available parking spaces, presenting the property with more than enough spaces to accommodate guests even at full occupancy. The property's interior offers guests essential amenities that help set it apart from the remainder of the nearby hospitality competitive set. This includes a large indoor pool, an on-site restaurant, a meeting space, and a scenic foliage-?lled courtyard.
The hotel offers significant upside potential through the reopening of 14 currently non-operational rooms and the revival of its once-popular onsite restaurant. Its non-brand-affiliated status provides flexibility, allowing options such as continuing operations as an independent hospitality property or collaborating with the local municipality to explore redevelopment or alternative uses. The property currently generates over $1 million in annual room revenue as an independent hotel, with historical revenue metrics exceeding this figure when brand-affiliated. Several conversion PIPs from brands interested in affiliation are already in hand.
The parcel is just off Interstate 90, a primary thoroughfare that sees over 27,500 vehicles daily, allowing streamlined potential via the hotel's visible and convenient location bene?ting from being the closest hospitality property to La Crosse Regional Airport. The airport services around 180,000 passengers annually, creating robust demand for hotels that offer airport shuttle services. La Crosse is best known for its scenic location along the Mississippi River banks near Minnesota and Wisconsin's border. The 50,000-person city provides something for everyone, from the historic downtown district that offers unique shops, art, and dining to recreation driven by the trails surrounding the Mississippi River. The La Crosse Hospitality Market includes around 3,900 rooms spread across 50 properties. Properties here have been performing well, boasting 55.4% occupancy rates and improving RevPAR. RevPAR over the past year has improved by 5.3% to $59.05, while the average daily rate has climbed to $116.32.
Lamar P. Fisher
Fisher Auction Company Inc.
License: 2876-52
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace
Marcus & Millichap is pleased to present Norwood Inn & Suites La Cross, a well-situated hotel located off I-90 and adjacent to La Crosse Regional Airport. The property presents a new investor or operator with a unique value-add upside through gradual improvements to the rooms, common areas, and the restaurant to offer additional ADR.
The former Days Inn franchise is a 148-room property with an interior corridor style and two stories. The building rests on an oversized 5.61-acre parcel with 372 available parking spaces, presenting the property with more than enough spaces to accommodate guests even at full occupancy. The property's interior offers guests essential amenities that help set it apart from the remainder of the nearby hospitality competitive set. This includes a large indoor pool, an on-site restaurant, a meeting space, and a scenic foliage-?lled courtyard.
The hotel offers significant upside potential through the reopening of 14 currently non-operational rooms and the revival of its once-popular onsite restaurant. Its non-brand-affiliated status provides flexibility, allowing options such as continuing operations as an independent hospitality property or collaborating with the local municipality to explore redevelopment or alternative uses. The property currently generates over $1 million in annual room revenue as an independent hotel, with historical revenue metrics exceeding this figure when brand-affiliated. Several conversion PIPs from brands interested in affiliation are already in hand.
The parcel is just off Interstate 90, a primary thoroughfare that sees over 27,500 vehicles daily, allowing streamlined potential via the hotel's visible and convenient location bene?ting from being the closest hospitality property to La Crosse Regional Airport. The airport services around 180,000 passengers annually, creating robust demand for hotels that offer airport shuttle services. La Crosse is best known for its scenic location along the Mississippi River banks near Minnesota and Wisconsin's border. The 50,000-person city provides something for everyone, from the historic downtown district that offers unique shops, art, and dining to recreation driven by the trails surrounding the Mississippi River. The La Crosse Hospitality Market includes around 3,900 rooms spread across 50 properties. Properties here have been performing well, boasting 55.4% occupancy rates and improving RevPAR. RevPAR over the past year has improved by 5.3% to $59.05, while the average daily rate has climbed to $116.32.
Lamar P. Fisher
Fisher Auction Company Inc.
License: 2876-52
Property Details
- Class
- C
- Year Built/Renovated
- 1973/2020
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 244,372 SF
- Units
- 148
Highlights
- AUCTION SITE: https://rimarketplace.com/auction/2104/lender-mandated-sale-norwood-inn-suites-148-keys?utm_source=costar&utm_medium=listing
- 148-Room, Two Story Hotel Unencumbered of Debt, Brand, and Management with Optionality to Convert to Flag
- Consistent Room Revenue of $1MM+ as an Independent Hotel and Historical Revenue Metrics Well Above this as a Brand Affiliated Property
- Multiple Conversion PIPs in Hand from Brands Wanting its Affiliation
- Prime Location Off I-90 Exit Ramp with Traffic Counts of 27,500 VPD, Excellent Freeway Visibility, and the First Hotel Encountered by Eastbound Travel
- Closest Hotel to La Crosse Regional Airport, a Regional Transportation Hub with 180,000 Annual Passengers
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