Hotels for Sale

TRAVELODGE LAFAYETTE, IN

Address:
Lafayette, Indiana
Description:
  • Fee simple interest in the recently foreclosed and renovated, absentee owned 121-room Travelodge Lafayette 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 Best Western Sure Stay
  • Minimal change of ownership PIP expected with recent capital improvements totaling approximately $1.56MM ($13k per key)
  • Significant operating improvement prospects after completing the change of ownership PIP and transition from current out-of-state absentee ownership
  • Ideally situated at the intersection of Interstate-65 and Indiana State Road 16 with more than 88,000 vehicles passing the location daily
  • Proximate to all broader Lafayette regional demand including Alcoa, Subaru, Cargill, Caterpillar, and Purdue University, one of the state’s largest universities with more than 43,000 students

Listing Agents

Andrew Makhlouf
T | 312.584.1312
Email

Mike Schlictman
T | 803.920.4173
Email

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