Listing Agents
Sean Banilivy
T | 516.456.7525
sbanilivy@paramountlodging.com
Omari Head
T | 773.315.5704
ohead@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 158-room, institutionally-owned and third-party managed Holiday Inn Youngstown-South Boardman, OH
- Upper-Midscale, full-service Holiday Inn offered unencumbered of management or brand at a discount to replacement cost
- Property benefits from significant in-place yield with average trailing 24-month NOI of $1.1MM
- Ownership has invested approximately $455K / $2.8K per key into the property between 2018 – 2023
- Strong upside transitioning from institutional ownership and third-party reliance to an ownership group with strong operating economies of scale
- Ability to reposition as a select service, dual flag or upper upscale brand with a new long-term license upon completing the conversion PIP
- Situated near the intersection of Interstate-680 and US 224 with upwards of 17,000 vehicles passing the location daily
- Proximate to local corporate demand including Phantom Fireworks (HQ), Vallourec Steel Plant, HBK, Ultium Battery Youngstown, and Mercy Health
- Located near several prominent institutions of higher education, including Youngstown State University, Avalon University School of Medicine, and Metropolitan College
- Positioned closely to the regions highly visited leisure attractions, including Stambaugh Auditorium, Southpark Mall, Mill Creek Golf Course, Reserve Run Golf Course, and The Covelli Centre
- Easily accessible to all local healthcare demand, including Mercy Health – St. Elizabeth Youngstown Hospital, Select Specialty Hospital Youngstown South, and the Akron Children’s Pediatrics Boardman