150 Fdr Dr - Hospitality FOR SALE


North Vernon, IN 47265
$2,300,000 USD
602-648-2700
150 Fdr Dr, North Vernon, IN for Sale
$2,300,000 USD
Hospitality - FOR SALE
1/14
null | Request Cap Rate

150 Fdr Dr
North Vernon, IN 47265


HIGHLIGHTS

  • 58 units, two-story, interior corridor
  • Year-over-year revenue growth
  • 2024 room revenue: $617,082
  • 2023 room revenue: $577,011
  • 2022 room revenue: $526,548
  • Priced under $40K/key

OVERVIEW

Property Description Devesh "Devo" Ragha of NewGen Advisory is proud to present the for sale of the Quality Inn located in North Vernon, IN. This well-established midscale hotel, open since February 1999 and renovated in 2018, offers 58 comfortable rooms across two stories in a small metro/town setting. Operated as a franchise under the reputable Choice Hotels International, Inc., the property includes 27,952 SF of gross building area with typical floor size of 13,976 SF. The property features interior corridors and essential amenities such as high-speed internet access, a business center, a fitness center, and a meeting space of 576 SF. The Quality Inn (North Vernon) is positioned on 1.37 acres with a zoning of C-SS and includes a surface parking lot with 55 spaces, providing a parking ratio of 0.95 per room. The investment benefits from its location in a car-dependent area, a robust business model with a smoke-free environment, and public access WiFi, enhancing its appeal to both business and leisure travelers. Location Description North Vernon, Indiana, is a small city located in Jennings County, known for its charming rural atmosphere and rich history. Situated at the crossroads of U.S. Route 50 and State Road 7, it offers easy access to both urban and rural settings. The city is home to a close-knit community, with a variety of local parks, schools, and businesses. Its historic downtown area reflects the town’s long-standing heritage, while the surrounding landscape provides ample opportunities for outdoor activities, making it a pleasant place for both residents and visitors.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$82 USD /SF

# OF ROOMS

58

PRICE/ROOM

$39,655 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn North Vernon Near Hwy 50

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1999

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.37 AC

LAND SF

59,677 SF

ZONING

C-SS

APN/PARCEL ID

40-09-33-120-006.001-004

ASK ABOUT THIS PROPERTY

Devo RaghaNewGen AdvisoryMore Info
602-648-2700

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Devo RaghaNewGen AdvisoryMore Info
602-648-2700

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