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Quality Inn & Suites Conference Center Across 8040 Perry Hwy 110 Room Hotel Erie, PA 16509 $3,000,000 ($27,273/Room) 15.20% Cap Rate
Investment Highlights
- 66,112 SF building with 110 units, renovated in 2023 for modern appeal
- Prime location off I-90 near Presque Isle Downs & Casino
- Strong investment opportunity in thriving Erie market
- Zoned C- Hotels for versatile usage - Ideal for waterpark, MUH, storage facility, and other options for future development
- Includes well-performing bar & grill outdoor pool, and meeting spaces
- Additional investment opportunity to purchase the 6-acre land for future development
Executive Summary
Discover the Quality Inn in Erie, Pennsylvania—a recently renovated hospitality property offering 110 guest rooms across a spacious 66,112 SF building on 14.58 acres. Positioned off I-90 and directly across from Presque Isle Downs & Casino, this prime location combines convenience with vibrant local attractions. Modern upgrades completed in 2023 enhance its appeal, while existing amenities include an on-site restaurant, outdoor pool, and meeting spaces. Zoned for hotel use, the property presents exceptional potential for continued hospitality operations or creative redevelopment opportunities.
Located off of busy I-90 just across from the Presque Isle Downs & Casino in beautiful Erie PA. Erie, Pennsylvania, is a city located in the northwestern part of the state, along the southern shore of Lake Erie. It is the fourth-largest city in Pennsylvania and has a rich history and a diverse range of attractions and activities.
Lake Erie: Erie is known for its stunning waterfront along Lake Erie, one of the Great Lakes. Presque Isle State Park, a peninsula that extends into the lake, offers beautiful beaches, walking trails, and opportunities for boating, fishing, and bird-watching. It's a popular spot for outdoor enthusiasts.
Manufacturing Heritage: Erie has a strong manufacturing history, particularly in industries like locomotive manufacturing, paper production, and plastics. The city played a significant role in the Industrial Revolution, and remnants of this heritage can still be seen today.
Downtown Erie: Downtown Erie features a mix of historic and modern architecture. You'll find various shops, restaurants, and cultural attractions, including the Erie Art Museum and Warner Theatre, which hosts concerts and Broadway shows.
Education: Erie is home to several colleges and universities, including Gannon University and Mercyhurst University, contributing to a vibrant academic community.
Sports: Erie is home to the Erie SeaWolves, a Double-A minor league baseball team affiliated with the Detroit Tigers. Sports enthusiasts can also enjoy hockey games with the
Erie Otters, a junior ice hockey team.
Culture and Entertainment: The city offers a range of cultural experiences, from art galleries and theaters to music festivals and community events. The Erie Philharmonic
and Erie Playhouse are notable cultural institutions.
Cuisine: Erie boasts a diverse culinary scene, with a focus on fresh seafood from Lake Erie. You can find a wide variety of dining options, from casual eateries to upscale restaurants.
Broker of Record:
Real Broker
Niraj Parikh
parikhrealty@gmail.com
848-565-5006
500 Office Center Dr #400
Fort Washington, PA 19034
Office #: 855-450-0442
Located off of busy I-90 just across from the Presque Isle Downs & Casino in beautiful Erie PA. Erie, Pennsylvania, is a city located in the northwestern part of the state, along the southern shore of Lake Erie. It is the fourth-largest city in Pennsylvania and has a rich history and a diverse range of attractions and activities.
Lake Erie: Erie is known for its stunning waterfront along Lake Erie, one of the Great Lakes. Presque Isle State Park, a peninsula that extends into the lake, offers beautiful beaches, walking trails, and opportunities for boating, fishing, and bird-watching. It's a popular spot for outdoor enthusiasts.
Manufacturing Heritage: Erie has a strong manufacturing history, particularly in industries like locomotive manufacturing, paper production, and plastics. The city played a significant role in the Industrial Revolution, and remnants of this heritage can still be seen today.
Downtown Erie: Downtown Erie features a mix of historic and modern architecture. You'll find various shops, restaurants, and cultural attractions, including the Erie Art Museum and Warner Theatre, which hosts concerts and Broadway shows.
Education: Erie is home to several colleges and universities, including Gannon University and Mercyhurst University, contributing to a vibrant academic community.
Sports: Erie is home to the Erie SeaWolves, a Double-A minor league baseball team affiliated with the Detroit Tigers. Sports enthusiasts can also enjoy hockey games with the
Erie Otters, a junior ice hockey team.
Culture and Entertainment: The city offers a range of cultural experiences, from art galleries and theaters to music festivals and community events. The Erie Philharmonic
and Erie Playhouse are notable cultural institutions.
Cuisine: Erie boasts a diverse culinary scene, with a focus on fresh seafood from Lake Erie. You can find a wide variety of dining options, from casual eateries to upscale restaurants.
Broker of Record:
Real Broker
Niraj Parikh
parikhrealty@gmail.com
848-565-5006
500 Office Center Dr #400
Fort Washington, PA 19034
Office #: 855-450-0442
Property Facts
| Price | $3,000,000 | Lot Size | 14.57 AC |
| Price Per Room | $27,273 | Building Size | 66,112 SF |
| Sale Type | Investment | No. Rooms | 110 |
| Cap Rate | 15.20% | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1963/2023 |
| Property Subtype | Hotel | Parking Ratio | 2.85/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Zoning | R2 | ||
| Price | $3,000,000 |
| Price Per Room | $27,273 |
| Sale Type | Investment |
| Cap Rate | 15.20% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 14.57 AC |
| Building Size | 66,112 SF |
| No. Rooms | 110 |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 2.85/1,000 SF |
| Corridor | Exterior |
| Zoning | R2 |
Amenities
- Business Center
- Pool
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 10 | $136.00 | - |
| Guest Room | 100 | $97.00 | - |
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Property Taxes
| Parcel Number | 40-012-066.0-007.01 | Improvements Assessment | $3,068,000 |
| Land Assessment | $932,000 | Total Assessment | $4,000,000 |
Property Taxes
Parcel Number
40-012-066.0-007.01
Land Assessment
$932,000
Improvements Assessment
$3,068,000
Total Assessment
$4,000,000
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Quality Inn & Suites Conference Center Across | 8040 Perry Hwy
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