Comfort Inn


Price:
$5,950,000

Address :
3041 West 12th Street
Erie, PA 16505


  •  Attractive pricing well below replacement costs
  •  Well located to major demand generators in local market area
  •  Motivated owner seeking to retire
  •  The hotel is being offered subject to the existing franchise. Choice Hotels is expected to grant purchaser a standard Comfort Inn license agreement upon the completion of a minimal Product Improvement Plan (PIP).
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  •  The City of Erie, Pennsylvania is Pennsylvania’s only Great Lakes port city.
  •  Conveniently located to numerous restaurants, retail and other traveloriented services
  •  Close to Regional Demand Generators, Including…
    •  1.1 Miles to Waldameer & Water World
    •  1.5 Miles to Presque Isle State Park
    •  1.8 Miles to Erie International Airport (Tom Ridge Field)
    •  4.5 Miles to Millcreek Mall Retail Complex
    •  4.7 Miles to Downtown Erie
    •  8.8 Miles to Presque Isle Downs and Casino
  •  100 Rooms
  •  Continental Breakfast Area (Seats 32)
  •  Business Center
  •  Seasonal Outdoor Pool
  •  3 Stories
  •  Interior Corridor
  •  Wood Frame and Steel Structure
  •  Dryvit and Synthetic Wallboard
  •  Flat Rubber Membrane Roof with Standing Seam Mansard
  •  Asphalt Parking Lot
  •  Built 1994
Financials
2015
2016
2017
T-12Mos 8/18
Occupancy
67.16%
73.28%
74.35%
67.031%
Average Daily Rate
$80.18
$85.25
$84.57
$85.48
Room Revenue
$1,684,867
$1,320,036
$1,470,777
$1,618,229
Net Operating Income
$395,153
$141,747
$257,249
$358,697
While the Comfort Inn was undergoing extensive renovations for the Truly Yours program, monthly operating statistics have been calculated on rooms available for the past three years. In 2015, it had 31,289 rooms available; in 2016, 21,130 rooms, and in 2017, 23,395 rooms. Monthly operating statistics are calculated on a cash basis and will not match completely with sales figures presented in the income statement.
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!