7304 E 21st St - Hospitality FOR SALE


Indianapolis, IN 46219- East Gate
$7,250,000 USD
317-493-0055
7304 E 21st St, Indianapolis, IN for Sale
$7,250,000 USD
Hospitality - FOR SALE
1/10
null | Request Cap Rate

7304 E 21st St
Indianapolis, IN 46219
East Gate


HIGHLIGHTS

  • On-Site Laundry
  • On-Site Restaurant
  • Meeting Space
  • Fitness Center
  • Smoke Free Property
  • Valet Dry Cleaning | Daily Housekeeping

OVERVIEW

Mitchell Glasson and Luke Whittaker of Matthews Real Estate Investment Services are pleased to present a unique opportunity to acquire the Fontana Hotel, a 118-room interior-corridor property located on the east side of Indianapolis, Indiana. Positioned in a high-traffic corridor near I-70 and minutes from downtown, the asset offers strong value-add potential and exposure to one of the Midwest’s fastest-growing metropolitan markets. Offered at a highly competitive Price Per Key basis, the property represents a compelling opportunity for investors seeking an Indianapolis hotel with operational upside. The hotel sits on a large parcel along East 21st Street, surrounded by national retailers, restaurants, industrial users, and residential density—creating consistent, diversified lodging demand. Its proximity to major transportation routes provides easy access to downtown Indianapolis, the Indiana Convention Center, Lucas Oil Stadium, the Indiana State Fairgrounds, and the expanding eastside logistics and distribution corridor. The surrounding region is home to major employers such as Cummins, Roche Diagnostics, Anthem/Elevance Health, Community Hospital East, and numerous industrial parks that drive year-round corporate, medical, and contractor demand. Additionally, the property captures leisure and transient guests traveling along I-70 and those visiting Indianapolis for sporting events, conventions, and entertainment. This offering presents a rare chance to acquire a well-located Indianapolis hotel with immediate operational improvements available and multiple embedded demand drivers. Investors have the opportunity to reposition the property, enhance performance, and capitalize on the continued growth of the Indianapolis metropolitan area. Broker of Record Kyle Matthews License # RC52200195 (IN) Matthews Real Estate Investment Services, Inc 1600 West End Ave, Ste. 1500 Nashville, TN 37203

FOR SALE DETAILS

PRICE

$7,250,000 USD

PRICE/SF

$101 USD /SF

# OF ROOMS

118

PRICE/ROOM

$61,441 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Former Delta | Fontana Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1981

PARKING SPACES

165

LAND DETAILS

LAND ACRES

3.17 AC

LAND SF

138,085 SF

ZONING

ZO01

APN/PARCEL ID

49-07-25-106-011.000-700

ASK ABOUT THIS PROPERTY

Luke WhittakerMatthews Real Estate Investment ServicesMore Info
317-493-0055

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Luke WhittakerMatthews Real Estate Investment ServicesMore Info
317-493-0055

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