Comfort Suites Toledo South | 53 Rooms | $1.3M T12 Room Revenue

Investment Highlights

• 53-Room, Comfort Suites – Toledo South Immediately Off I-75 and Just South of I-90 with Combined Traffic Counts Over 192K Vehicles Per Day
• $1,300,751 Room Revenue (Sept ’24 T12)
• Absentee Out of State Ownership- Ability to reduce expenses and Increase revenues through PIP Completion
• 2021-2024 Recent Renovations include Full Exterior Paint, Flood Lights, Common Area Modernization, Tankless Water Heaters (4), and Guest Room Upgrades
• Hotel Amenities Including Fitness Center, Business Center, Laundry, and More
• Nearby Demand Generators Include GM Plant, University of Toledo, Bowling Green State University, Toledo Express Airport, Mercy Health – Perrysburg Hospital, and More
• National Retailers Nearby include Kroger, Kohl’s, Target, Walmart, Meijer, Buffalo Wild Wings, Cracker Barrel, Home Depot
• Attractive Demographics with a Population of ±87,823 Individuals and Annual Household Income of ±$90,030 (5-Mile Radius)

 

Offering Summary

Marcus & Millichap is proud to present the exclusive opportunity to acquire the 53-room Comfort Suites in Perrysburg, Ohio (the “Property”). The three-story hotel was built in 2006 and is strategically located at 27450 Helen Dr, Perrysburg, OH, one exit south from where I-75 and the Ohio Turnpike (I-80/90) intersect with more than 192,000 vehicles per day. The hotel is absentee owned/managed and will be delivered unencumbered of debt or management.
 
The hotel will receive a new license upon completion of a PIP to replace case goods and cosmetic refresh of rooms and bathrooms which are estimated around $400,000.   The hotel currently operates at $68.35 RevPAR, $1,300,751 in room revenues and generates a net operating income of $392,978.   Upon completion of the PIP - We expect the hotel to exceed Pre-Covid Revenues of $1.37 Million dollars and be well positioned to increase ADR to $88 with the refreshed guest experience to potential new transient customers visiting or passing through its strategic location.   The Property represents an attractive opportunity to acquire a recently constructed hotel with excellent operating metrics for an owner operator to realize $484,691 in Net operating Income after completion of PIP.
 
The Property benefits from its highly accessible location immediately off I-75 and is the next exit to the Ohio Turnpike (I-80/90) and I-475. The Hotel is less than 15 minutes from a number of demand generators including the GM Plant, University of Toledo, ProMedica Hospital Systems, Owens-Illinois (O-I), FCA US LLC, Owens Corning, and countless manufacturing and industries in the area. The hotel is also just a 15-minute drive to the Toledo Zoo & Aquarium, Downtown Toledo, Bowling Green University (17K students) and University of Toledo (12K students). 
 

Property Tours

Property tours are available on Tuesday, December 3rd by appointment only. Please reach out to Alexandre Duong to schedule.