Hotels for Sale

RESIDENCE INN YOUNGSTOWN WARREN/NILES, OH

Address:
Niles, Ohio
Description:

UNDER CONTRACT

  • Leasehold Interest in the institutionally-owned and third-party managed 103-room Residence Inn Niles, OH offered at a fraction of replacement cost
  • Property offered for individual sale in the September 11th Ten-X auction event as part of a larger institutional portfolio sale
  • Offered unencumbered of debt and management with the ability to retain the Hampton Inn & Suites flag via a long-term license agreement with Hilton
  • Minimal change of ownership PIP expected on the 2014-build Residence Inn prototype
  • Property is being sold individually, but the 101-room Hampton Inn & Suites Niles is being offered simultaneously, providing buyers the opportunity to purchase adjacent assets and capitalize on strong operating synergies by owning two well-branded neighboring hotels serving different market segments and brand families
  • Situated along Ohio State Route 46 between Ohio State Route 82 and US route 422 with upwards of 86,000 vehicles passing the location daily
  • Proximate to all local and regional demand including the Eastwood Mall Complex, Eastwood Field, Youngstown-Warren Regional Airport, Youngstown Air Reserve Station, Trumbull Regional Medical Center, Youngstown State University, Packard Music Hall, Covelli Centre, Hollywood Gaming at Mahoning Valley Race Course, Mercy Health – St. Elizabeth Youngstown Hospital, downtown Warren, and downtown Youngstown

Listing Agents

Mike Schlictman
T | 803.920.4173
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