26000 American Dr - Hospitality FOR SALE


Southfield, MI 48034
$15,950,000 USD
312-371-6550
26000 American Dr, Southfield, MI for Sale
$15,950,000 USD
Hospitality - FOR SALE
1/15
null | Request Cap Rate

26000 American Dr
Southfield, MI 48034


HIGHLIGHTS

  • CALL FOR BEST & FINAL OFFERS
  • Offered Well Below Replacement Cost
  • Renovated Seven-story, Concrete & Steel Interior Corridor; 194 key Hilton Garden Inn - Minimal PIP
  • Near local businesses including Ford, BASF, Comcast, General Motors, Panasonic, Borg Warner, Kelly Services, and others

OVERVIEW

CALL FOR BEST & FINAL OFFERS - DUE ASAP Available at attractive room revenue multiple, and 25% of replacement cost. Renovated concrete & steel hotel Excellent Visibility on I-696 Low price-per-key 194 keys The Hilton Garden Inn in Southfield, Michigan, presents a compelling investment opportunity in a well-established commercial and business hub. The Hotel continues to generate strong revenues, benefiting from its prime location in Metro Detroit's suburban office market, proximity to major highways (I-696 and US-24), and accessibility to corporate demand drivers. Local businesses near the Hotel include Ford, BASF, Comcast, General Motors, IBM, Lear Corporation, Panasonic, Ally, Borg Warner, DTE Energy, Kelly Services, Penske Automotive and Visteon. Additionally, the Hotel is currently getting new elevators and wall coverings in the lobby & corridors assuring a minimal Property Improvement Plan (PIP) is anticipated for an ownership transition, providing an investor with a cost-effective strategy to acquire a premium branded asset for far below Replacement-Cost. The Property is a seven-story, interior corridor hotel which opened in 1988. The Hotel has a lobby, reception and breakfast area, on-site restaurant, indoor/outdoor meeting space for up to 300, an indoor heated pool, fitness center, complimentary local shuttle, and hotel-wide Wi-Fi Internet access. The Garden Grille & Bar serves cooked to order breakfast and lunch. This listing represents a deeply discounted opportunity to acquire a premium branded Hilton branded hotel that is fully renovated for about 3.5x room revenue.

FOR SALE DETAILS

PRICE

$15,950,000 USD

PRICE/SF

$139 USD /SF

# OF ROOMS

194

PRICE/ROOM

$82,216 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hilton Garden Inn Detroit-Southfield, MI.

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

7

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1988

PARKING SPACES

140

LAND DETAILS

LAND ACRES

2.62 AC

LAND SF

114,127 SF

ZONING

RC,Southfield

APN/PARCEL ID

24-18-400-028

ASK ABOUT THIS PROPERTY

Mike GeorgeAvison Young Hotel GroupMore Info
312-371-6550

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Mike GeorgeAvison Young Hotel GroupMore Info
312-371-6550

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