Hotels for Sale

Homewood Suites Salt Lake City – Midvale/Sandy

Address:
Midvale, Utah
Description:
  • Fee simple interest in an institutionally owned and brand managed 98-room Homewood Suites, offered at a discount to replacement cost
  • High yield investment with forecasted year one double-digit cash on cash returns
  • Current in-place RevPAR of approximately $85, with the property continuing to stabilize post-recent renovations
  • Available unencumbered of debt and third-party management with the ability to retain the Homewood Suites brand for a new long-term license
  • Approximately $4.0MM ($41k/key) of total CapEx spent since 2015, including $3.3MM ($34k/key) of renovation completed in the trailing-18 months
  • Readily accessible to both Interstate-15 and Interstate-215, with upwards of 123,000 vehicles passing the location daily
  • Within walking distance of the 59-acre Shops at Fort Union retail center, including several numerous full-service nationally recognized restaurants
  • Optimal location within the Midvale commercial district, which includes the new 2MM square foot LEED certified Class A View 72 Corporate Center that is home to 6,000 employees
  • Proximate to all core Midvale demand including the corporate headquarters for Overstock, Ally Financial, CHG Healthcare and Arctic Circle Restaurants
  • Located just ten-miles south of downtown Salt Lake City and accessible to all regional Salt Lake City demand including the Utah State Capitol Building, Salt Palace Convention Center, Vivint Smart Home Arena, and Salt Lake City International Airport

Please Contact for Further Information

Scott Griemsmann
T: 415.419.5765
Email
DRE #01336236

Subu Thiagarajan
T: 510.205.7931
Email
DRE #01891134

J.B. Singh
Positive Investments Real Estate
DRE #5458473-PB00

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