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Red Roof Inn Reading 2545 N 5th Street Hwy 76 Room Hotel Reading, PA 19605 $5,750,000 ($75,658/Room) 10.71% Cap Rate
Investment Highlights
- Completed $1.5m Total Room Renovation/Conversion in late 2022 and Opened in Oct '22 as Red Roof Inn.
- Excellent Location off state highway with 25,000 Daily Traffic Count and Close to Multiple Year-Round Demand Generators
- Popular, Profitable Restaurant + Bar/Lounge Onsite with Revenue Almost Equal to Hotel Room Rev. F&B Mgr Willing to Stay with New Owner and Manage F&B
- Revenue Has Doubled Since Guestroom Renovations Have Been Completed
Executive Summary
Excellent Opportunity to Purchase Top Budget-Economy Brand in Stabilized Market with Multiple Year-Round Demand Drivers.
POPULAR, PROFITABLE ON-SITE LEGENDS RESTAURANT AND BAR/LOUNGE HAS REVENUE ALMOST EQUAL TO ROOM REVENUE! CURRENT F&B MANAGER WILLING TO STAY WITH NEW OWNER AND CONTINUE TO MANAGE FOOD AND BEVERAGE.
$1.5M Total Room Renovation Completed Dec 2022 - Revenue Has Doubled Since Then.
Sale Price Well Below Replacement Cost.
POPULAR, PROFITABLE ON-SITE LEGENDS RESTAURANT AND BAR/LOUNGE HAS REVENUE ALMOST EQUAL TO ROOM REVENUE! CURRENT F&B MANAGER WILLING TO STAY WITH NEW OWNER AND CONTINUE TO MANAGE FOOD AND BEVERAGE.
$1.5M Total Room Renovation Completed Dec 2022 - Revenue Has Doubled Since Then.
Sale Price Well Below Replacement Cost.
Data Room Click Here to Access
Property Facts
| Price | $5,750,000 | Lot Size | 4.12 AC |
| Price Per Room | $75,658 | Building Size | 74,716 SF |
| Sale Type | Investment | No. Rooms | 76 |
| Cap Rate | 10.71% | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1964/2022 |
| Property Subtype | Hotel | Parking Ratio | 2.88/1,000 SF |
| Building Class | C | Corridor | Interior |
| Zoning | HC - Highway Commercial | ||
| Price | $5,750,000 |
| Price Per Room | $75,658 |
| Sale Type | Investment |
| Cap Rate | 10.71% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.12 AC |
| Building Size | 74,716 SF |
| No. Rooms | 76 |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2022 |
| Parking Ratio | 2.88/1,000 SF |
| Corridor | Interior |
| Zoning | HC - Highway Commercial |
Amenities
- Business Center
- Restaurant
- Wheelchair Accessible
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 76 | $96.00 | - |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 66-5308-16-82-1865 | Improvements Assessment | $796,200 |
| Land Assessment | $450,200 | Total Assessment | $1,246,400 |
Property Taxes
Parcel Number
66-5308-16-82-1865
Land Assessment
$450,200
Improvements Assessment
$796,200
Total Assessment
$1,246,400
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Red Roof Inn Reading | 2545 N 5th Street Hwy
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