Hotels for Sale

FAIRFIELD INN BY MARRIOTT NEW HAVEN WALLINGFORD, CT

Address:
New Haven, Connecticut
Description:

UNDER CONTRACT

  • Fee simple interest in the institutionally-owned and third-party managed 116-room Fairfield Inn New Haven Wallingford, CT offered at a fraction of replacement cost
  • Property offered for sale in the October 3rd Ten-X auction event
  • Available unencumbered of debt and management with the ability to retain the Fairfield Inn brand with a new long-term license agreement with Marriott
  • Nominal change of ownership PIP expected with approximately ~$3.25MM (~$28k per key) of recently completed renovations
  • Directly adjacent to and visible from Interstate-91 with approximately 86,000 vehicles passing the location daily
  • Proximate to all local Wallingford area demand including Blue Cross and Blue Shield, BMS Federal Credit Union, Choate Rosemary Hall, Oakdale Theatre, Sleeping Giant State Park, Wesleyan University, Amphenol, Quinnipiac University, Lyman Orchards Golf Center, Amazon, and downtown Wallingford
  • Readily accessible to downtown New Haven demand including Yale University, Yale-New Haven Hospital, Connecticut State University, New Haven Harbor, the Peabody Museum of Natural History, Yale Bowl, the Connecticut Tennis Center Stadium, the Schubert Theater, College Street Music Hall, and all core regional demand
  • Plans are under review for expansion of the runway at New Haven’s Tweed Airport that would allow for additional commercial non-stop flight options beyond the current offerings
  • Work is underway for a ~$1.4BB expansion at Hartford Bradley Airport designed to expand domestic and international routes and increase current passenger traffic by ~50% to ~10MM projected annual passengers
  • Optimal time to be investing in greater New Haven, Connecticut’s second largest city with a robust regional economy and an unemployment rate of 3.4% trending well below US national averages

Listing Agents

Mike Schlictman
T | 312.239.0577
Email Agent

Brent Clemens
T | 312.239.0572
Email Agent

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