Catylist ID:
#30775882
| 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: | 5.13 Acres |
| Sale Price: | $1,970,000 |
| Unit Price: | $50,512.82 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: | 9/18/2023 |
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. |
Attachments & Media
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 |
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 |
| © Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Indiana Commercial Board of REALTORS® nor Moody's assume any liability for errors or omissions. |
