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Howard Johnson by Wyndham Evansville East 1101 N Green River Rd 123 Room Hotel Evansville, IN 47715 $7,050,000 ($57,317/Room) 11.20% Cap Rate
Executive Summary
We are proud to present the 123-Room Howard Johnson Evansville East. The hotel is located five miles east of downtown Evansville near the major intersections of I-69, SR-66, and SR-62. The Howard Johnson benefits from being situated in the heart of the Tri-State Area with its strong and diverse manufacturing, healthcare, logistic, and
financial demand generators.
The hotel is currently being remotely operated by an absentee owner with the help of local staff. The hotel has been recently renovated and there is minimal to no PIP expected upon transfer. This presents an excellent opportunity for an investor to walk into an in place attractive cash flow with minimal PIP and to increase revenues and bottom line returns with hands on operations.
financial demand generators.
The hotel is currently being remotely operated by an absentee owner with the help of local staff. The hotel has been recently renovated and there is minimal to no PIP expected upon transfer. This presents an excellent opportunity for an investor to walk into an in place attractive cash flow with minimal PIP and to increase revenues and bottom line returns with hands on operations.
Property Facts
| Price | $7,050,000 | Lot Size | 3.12 AC |
| Price Per Room | $57,317 | Building Size | 58,616 SF |
| Sale Type | Investment | No. Rooms | 123 |
| Cap Rate | 11.20% | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1986/2018 |
| Property Subtype | Hotel | Parking Ratio | 2.18/1,000 SF |
| Building Class | C | Corridor | Interior |
| Zoning | None | ||
| Price | $7,050,000 |
| Price Per Room | $57,317 |
| Sale Type | Investment |
| Cap Rate | 11.20% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.12 AC |
| Building Size | 58,616 SF |
| No. Rooms | 123 |
| No. Stories | 2 |
| Year Built/Renovated | 1986/2018 |
| Parking Ratio | 2.18/1,000 SF |
| Corridor | Interior |
| Zoning | None |
Amenities
- Business Center
- Fitness Center
- Pool
- Shuttle Service
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 2 | $138.00 | - |
| Guest Room | 121 | $77.00 | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 82-06-24-017-159.032-027 | Improvements Assessment | $1,601,900 |
| Land Assessment | $1,425,800 | Total Assessment | $3,027,700 |
Property Taxes
Parcel Number
82-06-24-017-159.032-027
Land Assessment
$1,425,800
Improvements Assessment
$1,601,900
Total Assessment
$3,027,700
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Howard Johnson by Wyndham Evansville East | 1101 N Green River Rd
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