Red Roof Inn-Vincennes

Hospitality for Sale
Catylist Listing ID: 30775882
Property Subtypes: Motel
Number of Units: 39 Units
Building Size (RSF): 25,080 SF
Gross Building Area: See Agent
Gross Land Area: 3.39 Acres
Sale Price: $2,400,000
Unit Price: $61,538.46 Per Unit
Property Use Type: Investment, Business
Name of Establishment: Red Roof Inn-Vincennes
Franchised Business: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/20/2023

Overview / Comments

NOW AVAILABLE – 39-unit Red Roof Inn located in Historic Vincennes, Indiana. Take advantage of this opportunity to own a consistently profitable property, conveniently located within the heart of the Wabash Valley industrial corridor with over twelve major industrial facilities (refinery, power plants, manufacturing plants) located within thirty (30) miles. This has produced a large base of corporate contract customers – generating solid profits year in and year out.

This property has fully recovered from COVID lows, with REVPAR figures at or above historic highs (25% increase Y/Y from August 2020).  Experiencing numerous 100% occupancy nights in August, September, and October of current year, leading to REVPAR numbers exceeding comparison set during large portions of the last three (3)months. Get in contact now and schedule your visit.

-Property improvements since 2017 include: Upgraded interiors and exterior; electronics upgrades, parking lot improvements and counters/surfaces upgrades
-Upcoming improvements include: Case goods for select room classes; common space flooring and window treatments
-Property amenities include: Wi-Fi, Indoor Pool, Breakfast Café and Business Center

Property Description: Red Roof Inn-Vincennes is consist of two (2) buildings containing 39 air-conditioned rooms featuring refrigerators, microwaves, 37-inch flat-screen televisions with cable programming and  complimentary wireless Internet access. Private bathrooms with shower/tub combinations feature complimentary toiletries and hair dryers. Conveniences include desks and coffee/tea makers, as well as phones with free local calls. Other property amenities include an indoor swimming pool, Breakfast Café and Business Center.

Location Description: Red Roof Inn-Vincennes is situated in the entertainment district of Vincennes, Indiana, within a 5-minute drive to Good Samaritan Health Pavilion, including Good Samaritan Hospital and Good Samaritan Accreditations. This motel is 2.2 mi (3.5 km) from Rogers Clark National Historical Park and 3.1 mi (5 km) from Vincennes University.

Vincennes, IN is the county seat of Knox County, and is located on the lower Wabash River in the southwest part of the state, nearly halfway between Evansville and Terre Haute.

Additional Details

Nearest MSA: Vincennes
County: Knox
Taxing Authority: Knox County
Tax ID/APN: 42-12-33-100-005.000-023; 42-12-33-102-009.000-023
Zoning: C-2
Retail Clientele: General, Family, Business, Traveler
Property Visibility: Good
Largest Nearby Street: US-Hwy 41
Traffic/Vehicle Count: 16,079
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Average
Year Built: 1994
Roof Type: Gable
Construction/Siding: Brick
Water Recreation: Indoor Pool
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,494 18,475 24,259
Median Age: 46.84 37.56 38.11
Households: 647 7,235 9,533

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