BAYMONT INN & SUITES INDIANAPOLIS EAST, IN

April 5, 2019 9:07 pm
Address:
Indianapolis, Indiana
Description:
  • Fee simple interest in the recently foreclosed and renovated, absentee owned 120-room Baymont Inn & Suites Indianapolis IN
  • Property offered for individual sale in the October 3rd Ten-X auction event, as part of a larger portfolio sale
  • Available unencumbered of debt and management with the ability to upbrand to Best Western
  • Minimal change of ownership PIP expected with recent capital improvements totaling approximately $2.77MM ($23k per key)
  • Significant operating improvement prospects after completing the change of ownership PIP and transition from current out-of-state absentee ownership
  • Adjacent to the intersection of Interstate-70 and Interstate-265 with upwards of 288,000 vehicles passing the location daily
  • Readily accessible to downtown Indianapolis and all core regional demand including the Indianapolis Motor Speedway, Lucas Oil Stadium, Eli Lilly, Simon Property Group, the Children’s Museum of Indianapolis, Bankers Life Fieldhouse, and the annual National Football League Scouting Combine
  • Ideal time to be investing in Indianapolis with the city coming off the heels of expansive 2018 job growth and a 3.3% area unemployment rate that is well below the national average
  • Indianapolis continuing to grow as 2018 saw the highest tourism demand in city history with upwards of 29MM visitors contributing $5.4BB to the local economy
  • Prosperous economic outlook as Indianapolis is scheduled to host the 2020 Routes America Airline Convention, 2021 NBA All-Star Weekend, 2021 NCAA Men’s Final Four, the 2026 NCAA Men’s Final Four, the 2022 College Football Playoff National Championship, and the 2025 American Academy of Otolaryngology Convention

Listing Agents

Beau Mullenix
T | 314.568.7098
Email

Mike Schlictman
T | 803.920.4173
Email

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