Comfort Inn


Price:
  $5,950,000   
$5,695,000

Address :
3041 West 12th Street
Erie, PA 16505


  •  Attractive pricing well below replacement costs
  •  Strong positive trend in revenues and profitability post renovations
  •  Excellent physical condition after almost $1 million renovation
  •  Well located to major demand generators in local market area
  •  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).
    View Map    View Aerial
  •  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
Thank you for your interest in this Mumford Company Listing. In order to review the financial and operating performance of this property, please complete the required fields below. If you are a real estate broker, please click here and you will be directed to our co-brokerage registration form.




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Financials
2015
2016
2017
T-12Mos 10/18
Occupancy
67.16%
73.28%
74.35%
65.38%
Average Daily Rate
$80.18
$85.25
$84.57
$85.11
Room Revenue
$1,684,867
$1,320,036
$1,470,777
$1,641,792
Net Operating Income
$395,153
$141,747
$257,249
N/A
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!