Historical Hotel & Motel Sale Listing - Super 8 Marietta

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Super 8 Marietta

46 Acme Street, Marietta, OH 45750

N/A

60 Rooms | Hotel & Motel

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Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
60
Building Size:
10,000 SF
Property Type:
Hotel & Motel
Property Sub-type:
Economy/Limited Service
Property Use Type:
Investment
Cap Rate:
16.74%
Average Daily Rate:
$61
RevPAR:
$40
Average Occupancy:
64%
Corridor:
Interior
Lot Size:
1 AC
Listing ID
18256687
Last Updated
230 days ago

Description

An opportunity to own and operate a limited service hotel with 61 interior corridor rooms. The property located in the southeastern Ohio town of Marietta. It is located off of interstate 77 next to a Wal-Mart Supercenter. It has recently been renovated and is located in the epicenter of Marietta's commercial corridor.

The Super 8 in Marietta, Ohio is the perfect investment for a hotel owner looking to get into a growing market that has high margins, high cashflow, limited amount of management and minimal PIP due to the owner's numerous renovations and pride of ownership. The hotel's demand generators are from travelers crossing states, Marietta College, the charming historic downtown Marietta, and construction workers of the oil and gas industry passing through to enter Ohio, West Virginia, and Pennsylvania.

It is located in the overlapping Utica & Marcellus shale area and has yet to realize the full construction activity other areas have experienced which represents significant revenue potential. The Super 8 currently operates 17% below its competitive set in occupancy. A Super 8 in an oil and gas market during the peak of construction can gross over $20k per key in room revenues.
The Marcellus Shale lies under parts of Pennsylvania, Ohio, West Virginia, Maryland and New York.
Located on Interstate 77 in Ohio, it is one of the main highways used by the oil and gas companies to enter West Virginia or Ohio. Drilling has not started in the area but already realizes plenty of drive-thru traffic since it is located on Interstate 77.
Drilling in Marietta is expected to start in 2013. According to the federal energy reports Marcellus wells in Pennsylvania and West Virginia now produce 7 billion cubic feet of gas per day. That's about 25 percent of all shale gas production nationwide, and nearly double the Marcellus production of the previous year.

Map of 46 Acme Street, Marietta, OH 45750 (Washington County)

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