2545 N 5th Street Hwy - Hospitality FOR SALE


Reading, PA 19605- Outer Muhlenberg Township
$5,750,000 USD
301-467-5939
2545 N 5th Street Hwy, Reading, PA for Sale
$5,750,000 USD
Hospitality - FOR SALE
1/11
null | 10.71% Cap Rate

2545 N 5th Street Hwy
Reading, PA 19605
Outer Muhlenberg Township


HIGHLIGHTS

  • Completed $1.5m Total Room Renovation/ Conversion in late 2022 and Opened in Oct '22 as Red Roof Inn.
  • Revenue Has Doubled Since Guestroom Renovations Have Been Completed.
  • Popular, Profitable Restaurant + Bar/Nightclub Onsite with Revenue Rivalling Hotel Room Rev. F&B Mgr Willing to Stay with New Owner and Manage F&B.
  • Excellent Location off state highway with 25,000 Daily Traffic Count and Close to Multiple Year-Round Demand Generators

OVERVIEW

OWNERS MOTIVATED - Excellent Opportunity to Purchase Top Budget-Economy Brand in Stabilized Market with Multiple Year-Round Demand Drivers. POPULAR, PROFITABLE ON-SITE LEGENDS RESTAURANT AND BAR/NIGHTCLUB HAS REVENUE THAT RIVALS THE ROOM REVENUE! CURRENT F&B MANAGER WILLING TO STAY WITH NEW OWNER AND CONTINUE TO MANAGE FOOD AND BEVERAGE! $1.5M Total Room Renovation Completed Dec 2022 When Converted to Red Roof Inn - Revenue Has Doubled Since Then. SALE PRICE WELL BELOW REPLACEMENT COST!

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$77 USD /SF

# OF ROOMS

76

PRICE/ROOM

$75,658 {currency}

CAP RATE

10.71%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Roof Inn Reading

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1964

PARKING SPACES

173

LAND DETAILS

LAND ACRES

4.12 AC

LAND SF

179,467 SF

ZONING

HC

APN/PARCEL ID

66-5308-16-82-1865

ASK ABOUT THIS PROPERTY

Charlie FritschMBA Hotel BrokersMore Info
301-467-5939

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Charlie FritschMBA Hotel BrokersMore Info
301-467-5939

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