8325 Bash St - Hospitality FOR SALE


Indianapolis, IN 46250- Castleton
$4,095,000 USD
805-557-8857
8325 Bash St, Indianapolis, IN for Sale
$4,095,000 USD
Hospitality - FOR SALE
1/14
null | Request Cap Rate

8325 Bash St
Indianapolis, IN 46250
Castleton


HIGHLIGHTS

  • 110 units, 3 story, exterior and interior corridor
  • Offered at $37,227/Key
  • Extensive renovation completed in 2022
  • Highly desirable northeast Indy location
  • Construction on I-69 exit nearly complete with traffic count increase expected
  • Upside Potential – performing at 43% RevPAR Index

OVERVIEW

The Bowman Post Group of NewGen Advisory is pleased to present for sale the Clarion Pointe Indianapolis Northeast – Indianapolis, IN. This property is located at 8325 Bash St. in the Castleton suburb of Indianapolis. Built in 1988, this property features two floors of exterior corridors, and a third floor with interior corridors. The location is a standout, located with easy access and visibility from Interstate 69 on an exit that has recently gone through major construction. Just one mile away is Indiana’s largest mall and across the interstate is a large hospital. Within walking distance are a host of amenities including restaurants, places of worship, entertainment venues, and shopping. Current ownership has recently renovated the property and traffic is expected to come back with the exit construction wrapping up. The capital expenditures, the exit opening, and the location in highly desirable Indianapolis make this a great property. Additionally, those attributes make it the right time for a new owner to purchase now. There is major upside for a new buyer, as this property is performing at just 43% of the RevPAR compared to the competitive set.

FOR SALE DETAILS

PRICE

$4,095,000 USD

PRICE/SF

$73 USD /SF

# OF ROOMS

120

PRICE/ROOM

$34,125 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Clarion Pointe Indianapolis Northeast

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1988

PARKING SPACES

122

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

ZO01

APN/PARCEL ID

49-02-23-116-012.000-400

ASK ABOUT THIS PROPERTY

Andrew PostNewGen AdvisoryMore Info
805-557-8857

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Andrew PostNewGen AdvisoryMore Info
805-557-8857

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