8040 Perry Hwy - Hospitality FOR SALE


Erie, PA 16509
$3,000,000 USD
740-480-3918
8040 Perry Hwy, Erie, PA for Sale
$3,000,000 USD
Hospitality - FOR SALE
1/11
null | 15.2% Cap Rate

8040 Perry Hwy
Erie, PA 16509


HIGHLIGHTS

  • 66,112 SF building with 110 units, renovated in 2023 for modern appeal
  • Zoned C- Hotels for versatile usage - Ideal for waterpark, MUH, storage facility, and other options for future development
  • Prime location off I-90 near Presque Isle Downs & Casino
  • Includes well-performing bar & grill outdoor pool, and meeting spaces
  • Strong investment opportunity in thriving Erie market
  • Additional investment opportunity to purchase the 6-acre land for future development

OVERVIEW

Discover the Quality Inn in Erie, Pennsylvania—a recently renovated hospitality property offering 110 guest rooms across a spacious 66,112 SF building on 14.58 acres. Positioned off I-90 and directly across from Presque Isle Downs & Casino, this prime location combines convenience with vibrant local attractions. Modern upgrades completed in 2023 enhance its appeal, while existing amenities include an on-site restaurant, outdoor pool, and meeting spaces. Zoned for hotel use, the property presents exceptional potential for continued hospitality operations or creative redevelopment opportunities. Located off of busy I-90 just across from the Presque Isle Downs & Casino in beautiful Erie PA. Erie, Pennsylvania, is a city located in the northwestern part of the state, along the southern shore of Lake Erie. It is the fourth-largest city in Pennsylvania and has a rich history and a diverse range of attractions and activities. Lake Erie: Erie is known for its stunning waterfront along Lake Erie, one of the Great Lakes. Presque Isle State Park, a peninsula that extends into the lake, offers beautiful beaches, walking trails, and opportunities for boating, fishing, and bird-watching. It's a popular spot for outdoor enthusiasts. Manufacturing Heritage: Erie has a strong manufacturing history, particularly in industries like locomotive manufacturing, paper production, and plastics. The city played a significant role in the Industrial Revolution, and remnants of this heritage can still be seen today. Downtown Erie: Downtown Erie features a mix of historic and modern architecture. You'll find various shops, restaurants, and cultural attractions, including the Erie Art Museum and Warner Theatre, which hosts concerts and Broadway shows. Education: Erie is home to several colleges and universities, including Gannon University and Mercyhurst University, contributing to a vibrant academic community. Sports: Erie is home to the Erie SeaWolves, a Double-A minor league baseball team affiliated with the Detroit Tigers. Sports enthusiasts can also enjoy hockey games with the Erie Otters, a junior ice hockey team. Culture and Entertainment: The city offers a range of cultural experiences, from art galleries and theaters to music festivals and community events. The Erie Philharmonic and Erie Playhouse are notable cultural institutions. Cuisine: Erie boasts a diverse culinary scene, with a focus on fresh seafood from Lake Erie. You can find a wide variety of dining options, from casual eateries to upscale restaurants. Broker of Record: Real Broker Niraj Parikh parikhrealty@gmail.com 848-565-5006 500 Office Center Dr #400 Fort Washington, PA 19034 Office #: 855-450-0442

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$45 USD /SF

# OF ROOMS

110

PRICE/ROOM

$27,273 {currency}

CAP RATE

15.2%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn & Suites Conference Center Across

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1963

PARKING SPACES

309

LAND DETAILS

LAND ACRES

14.57 AC

LAND SF

634,669 SF

ZONING

R2

APN/PARCEL ID

40-012-066.0-007.01

ASK ABOUT THIS PROPERTY

Anish Shahe-Merge Commercial Real EstateMore Info
740-480-3918

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Anish Shahe-Merge Commercial Real EstateMore Info
740-480-3918

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