Hotels for Sale

BEST VALUE INN BLOOMINGTON, IN

Address:
Bloomington, Indiana
Description:
  • Fee simple interest in the recently foreclosed and renovated, absentee owned 85-room Best Value Inn Bloomington IN conversion opportunity offered at a substantial discount to replacement cost
  • Property offered for individual sale in the May 22nd Ten-X auction event, as part of a larger portfolio sale
  • Available unencumbered of debt, brand, and management with the ability to convert to several premium mid-scale brands including Baymont by Wyndham, Best Western, Country Inn & Suites by Radisson, and Wingate by Wyndham
  • Minimal change of ownership PIP expected with recent capital improvements totaling approximately $2.5MM ($29.4k per key)
  • Significant operating improvement prospects following completion of a PIP to a nationally recognized mid-scale brand, hands-on ownership, and value-add creation through the rental of the approximately 4,580 SF retail space created by the lobby renovation (market rental price is $20/SF)
  • Located less than two miles from the State Road 45 / Intereste-69 interchange, one of Bloomington’s primary access points with upwards of 60,000 vehicles passing the location daily
  • Ideally situated proximate to all Bloomington area demand, including Upland Brewing, Cook Group, Baxter BioPharma, Lake Lemon, and Monroe County Convention Center
  • Within walking distance of Indiana University (IU), the state’s largest public four-year university with upwards of 45,000 students, and all IU-related demand including Kelley School of Business, Jacobs School of Music, Memorial Stadium, Bill Armstrong Stadium, Bart Kaufman Field, and Simon Skjodt Assembly Hall

Listing Agents

Mike Schlictman
T | 803.920.4173
Email

Kami Burnette
T | 512.831.5605
Email

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