16 W 10th St | Erie, PA 16501
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16 W 10th St
Erie, PA 16501
The Avalon Hotel & Conference Center · Hospitality Property For Sale
·
140,395 SF
INVESTMENT HIGHLIGHTS
- The hotel is located in an opportunity zone with tax credits, abatements, and public funding available.
- An operational upside; the hotel is currently only operating 105 out of 193 rooms.
- The current C-3 zoning allows for conversion to a multitude of alternative uses including multifamily.
- There is nearly 25,000 square feet of meeting and event space available on-site.
- A full renovation is needed and there is a potential rebranding opportunity to DoubleTree by Hilton.
- The hotel is priced well below replacement cost.
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 8 |
| Property Subtype | Hotel | Year Built/Renovated | 1977/2002 |
| Building Class | B | Parking Ratio | 0.36/1,000 SF |
| Lot Size | 1.40 AC | Corridor | Interior |
| Building Size | 140,395 SF | ||
| Zoning | C3 - Hotel | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.40 AC |
| Building Size | 140,395 SF |
| No. Stories | 8 |
| Year Built/Renovated | 1977/2002 |
| Parking Ratio | 0.36/1,000 SF |
| Corridor | Interior |
| Zoning | C3 - Hotel |
AMENITIES
- Business Center
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,341,900 | |
| Land Assessment | $484,700 | Total Assessment | $1,826,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$484,700
Improvements Assessment
$1,341,900
Total Assessment
$1,826,600
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