2603 N Lincoln Rd - Hospitality FOR SALE


Escanaba, MI 49829
$6,500,000 USD
231-941-1777
2603 N Lincoln Rd, Escanaba, MI for Sale
$6,500,000 USD
Hospitality - FOR SALE
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null | Request Cap Rate

2603 N Lincoln Rd
Escanaba, MI 49829


HIGHLIGHTS

  • Escanaba is home to one of the safest natural harbors in the upper Great Lakes, which makes it a natural destination for boaters.
  • Tourism has become significant for the local economy.
  • Tourist draws include Lake Michigan beaches and local fishing and hunting opportunities.
  • Most popular dining options include : The Ludington Grill, Drifter’s Restaurant, The Buck Inn, Hudson’s Grill, The Stone House, Hereford and Hops
  • Ludington Park, Harbor Hideout, Sand Point Lighthouse & Delta Country Historical Museum, and Wells Sports Complex are popular places

OVERVIEW

The Quality Inn & Suites offers an investor the opportunity to purchase a high-income producing hotel located in the third-largest city in the Upper Peninsula of Michigan. Current ownership has made many upgrades and improvements to the facility. The new ownership PIP is expected to be minimal. The Quality Inn & Suites is conveniently located on US Highway 2 E and US Highway 41 N. The city of Escanaba is the county seat of Delta County and generally considered to be the county’s center of government, commerce and employment. The immediate area is improved with a medical center, college, lodging facilities, food establishments, offices, retail, and residential neighborhoods. The Quality Inn & Suites consists of 114 rooms and suites in a 4-story building built in 1984. The hotel is serviced by 2-elevators and features a large well-appointed lobby and guest registration area w/fireplace, breakfast area, lounge/bar, meeting/event space, business center, fitness center, guest laundry, vending/ice on each floor, commercial laundry, staff offices, exterior decking/patios and detached storage building. Guestroom amenities include 32” flat screen TV’s in all room on floors 1-3 and 40” flat screen TV’s in all rooms on the 4th floor. Each room has a telephone, clock/radio, microwave, mini-fridge, coffee maker, hairdryer, iron and ironing board. The property offers extensive asphalt paving, concrete curbs, and professional landscaping.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$138 USD /SF

# OF ROOMS

116

PRICE/ROOM

$56,034 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn & Suites Escanaba

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.34 AC

LAND SF

232,610 SF

ZONING

CM

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Gary SmithSmith Dean BurgettMore Info
231-941-1777

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Gary SmithSmith Dean BurgettMore Info
231-941-1777

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.