Travelodge by Wyndham Monroe | 1885 Welcome Way
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Travelodge by Wyndham Monroe 1885 Welcome Way
89 Room Hotel Monroe, MI 48162 £2,931,622 (£32,940/Room) 16.67% Net Initial Yield
Executive Summary
The property is a former Americas Best Value Inn and was converted to a Travelodge in March 2022 . Renovations continued until the first quarter of 2023.
2023 revenue i$100,000 per month ending May
Recent improvements include a new roofs, paint on all the buildings exteriors, new landscaping was added along awnings, exterior lighting and signage. The parking lot was replaced with new asphalt including the driveway entrance to the property.
Guest Rooms: new laminate flooring in the bathrooms, vanities, paint new mattress sets and furniture upgrades
Area Overview: Located on I-75, exit 15 / Dixie Highway and within easy reach of Detroit’s and Toledo, Ohio major attractions. The exit includeds two major truck stops, fast-food outlets, International House of Pancakes and Cracker Barrel
The property features an updated lobby, whirlpool suites, kitchenettes, micro-waves / refrigerators in all rooms, guest laundry , vending area.
2023 revenue ending May is $100,000 per month
2023 revenue i$100,000 per month ending May
Recent improvements include a new roofs, paint on all the buildings exteriors, new landscaping was added along awnings, exterior lighting and signage. The parking lot was replaced with new asphalt including the driveway entrance to the property.
Guest Rooms: new laminate flooring in the bathrooms, vanities, paint new mattress sets and furniture upgrades
Area Overview: Located on I-75, exit 15 / Dixie Highway and within easy reach of Detroit’s and Toledo, Ohio major attractions. The exit includeds two major truck stops, fast-food outlets, International House of Pancakes and Cracker Barrel
The property features an updated lobby, whirlpool suites, kitchenettes, micro-waves / refrigerators in all rooms, guest laundry , vending area.
2023 revenue ending May is $100,000 per month
Property Facts
| Price | £2,931,622 | Building Size | 33,414 SF |
| Price Per Room | £32,940 | No. Rooms | 89 |
| Sale Type | Investment | Number of Floors | 1 |
| Net Initial Yield | 16.67% | Year Built/Renovated | 1978/2022 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 1.8/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 3.33 AC |
| Price | £2,931,622 |
| Price Per Room | £32,940 |
| Sale Type | Investment |
| Net Initial Yield | 16.67% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.33 AC |
| Building Size | 33,414 SF |
| No. Rooms | 89 |
| Number of Floors | 1 |
| Year Built/Renovated | 1978/2022 |
| Tenancy | Single |
| Parking Ratio | 1.8/1,000 SF |
| Corridor | Exterior |
Amenities
- Business Centre
- Pool
- High Speed Internet Access
- Meeting Event Space
- Public Access Wi-Fi
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 17 | £60.22 | - |
| Guest Room | 72 | £52.29 | - |
PROPERTY TAXES
| Parcel Number | 07-087-015-20 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £733,619 |
PROPERTY TAXES
Parcel Number
07-087-015-20
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£733,619
zoning
| Zoning Code | C |
| C |
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Travelodge by Wyndham Monroe | 1885 Welcome Way
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