2040 Lafayette Rd - Hospitality FOR SALE


Indianapolis, IN 46222- Eagledale
$1,300,000 USD
805-866-0486
2040 Lafayette Rd, Indianapolis, IN for Sale
$1,300,000 USD
Hospitality - FOR SALE
1/9
null | Request Cap Rate

2040 Lafayette Rd
Indianapolis, IN 46222
Eagledale


HIGHLIGHTS

  • 60 units, single story, exterior corridor
  • Offered at $21,660/key
  • Situated on 2.45 acres, just 4 miles from the highly desirable Indianapolis Motor Speedway
  • Significant upside: revenue performance of $200K is based on 20 operational units
  • Manager's apartment adjacent to office & laundry room for operational efficiency
  • Motivated seller

OVERVIEW

The Bowman Post Group of NewGen Advisory is pleased to present for sale the Mayfair Motel - Indianapolis, IN. This motor lodge style property features 60 guestrooms on 2.45 acres. The current management is only operating 20 rooms, providing the new owner great upside potential. The manager’s apartment offers an owner-operator a great opportunity to maximize operational efficiency. This asset offers great potential with as it is unencumbered by management or franchise and could suit various change-of-use options. Well located in central Indianapolis, with nearby attractions like Lucas Oil Stadium, the Indianapolis Motor Speedway, and the Indianapolis Zoo, the Mayfair Motel - Indianapolis, IN is poised to capture additional revenue and provide a return for its new ownership.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$55 USD /SF

# OF ROOMS

60

PRICE/ROOM

$21,667 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mayfair Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1957

PARKING SPACES

80

LAND DETAILS

LAND ACRES

2.45 AC

LAND SF

106,722 SF

ZONING

C-S

APN/PARCEL ID

49-06-33-148-003.000-901

ASK ABOUT THIS PROPERTY

Jay BhimaNewgenMore Info
805-866-0486

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Jay BhimaNewgenMore Info
805-866-0486

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