Arlington Inn & Suites - LoopNet · 2020. 1. 29. · Property Description This offering is to...

SturgesProperty.com 202 West Berry Street, Suite 500, Fort Wayne, IN 46802 260 424 8448

Arlington Inn & Suites7281 S 75 EWarren, Indiana 46792

FOR SALEINVESTMENT

NEAL BOWMANSenior Broker 260 424 [email protected]

PHILIP HAGEEListing Manager260 424 [email protected]

STEPHANIE PETRASBrokerage Marketing Assistant260 424 [email protected]

Featured Property Highlights

– +/- 17,820 SF Inn with 45 Rooms

– Well-Maintained Asset Built In 1999

– Upside Potential to Increase Room Revenue and Occupancy

– Strategic Proven Location in The Heart of Midwest & Indiana

– Billboard Visibility from Interstate 69

– Ample Semi-Truck/Trailor Parking

– Owner Financing Available

DISCLOSURE AND CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your

limited use and benefit in determining whether you desire to

express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining

to the Property and does not purport to be a representation

of the state of affairs of the Property or the owner of the

Property (the “Owner”), to be all-inclusive or to contain all

or part of the information which prospective investors may

require to evaluate a purchase of real property. All financial

projections and information are provided for general

reference purposes only and are based on assumptions

relating to the general economy, market conditions,

competition and other factors beyond the control of the

Owner and Sturges, LLC. Therefore, all projections,

assumptions and other information provided and made

herein are subject to material variation. All references to

acreages, square footages, and other measurements are

approximations. Additional information and an opportunity

to inspect the Property will be made available to interested

and qualified prospective purchasers. In this Memorandum,

certain documents, including leases and other materials, are

described in summary form. These summaries do not purport

to be complete nor necessarily accurate descriptions of the

full agreements referenced. Interested parties are expected

to review all such summaries and other documents of

whatever nature independently and not rely on the contents

of this Memorandum in any manner.

Neither the Owner or Sturges, LLC, nor any of their respective

directors, officers, Affiliates or representatives make any

representation or warranty, expressed or implied, as to the

accuracy or completeness of this Memorandum or any of its

contents, and no legal commitment or obligation shall arise

by reason of your receipt of this Memorandum or use of its

contents; and you are to rely solely on your investigations

and inspections of the Property in evaluating a possible

purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or Sturges, LLC. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Sturges, LLC.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return the confidentiality Agreement (provided separately), filled out

and signed, to Sturges, LLC.

© 2020 Sturges, LLC. The information contained in this document has been obtained from sources believed reliable. While Sturges, LLC does not doubt its accuracy, Sturges, LLC has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

The Sturges Property Group logo are service marks of Sturges, LLC. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.


Arlington Inn & Suites7281 S 75 E

Warren, Indiana 46792

FOR SALEINVESTMENT




Property Description

This offering is to acquire the 45-room Arlington Inn & Suites,

conveniently situated off Interstate 69 in Warren, Indiana,

25 minutes south of Fort Wayne. This two-story, interior

corridor hotel was built in 1999, has been well-maintained by

current ownership with ongoing capital expenditures, and

has a stucco exterior with wood frame construction. All guest

rooms are nonsmoking and include many amenities including

upgraded beds, cable TV, and free in-room Wi-Fi. Current

operator advertises both daily and extended stay rates and

has a NNN lease with Seller. Perfect for a first-time buyer or

as an investment property.

This Property is strategically positioned off of Interstate 69

and Indiana State Road 5 at exit #278. The location provides

the hotel with high visibility to over 29,500 vehicles per day

with approx. 1,200 FF on I-69. Conveniently located in the

heart of Midwest and Indiana, Warren is known for its largest

employer (Heritage Pointe Communities), logistics/trucking

via I-69, and it’s manufacturing & agriculture industry(s).

World-class companies including GM, Vera Bradley, and Golfo

di Napoli Dairy are located within close proximity.

S Warren R

d / State R

d 5

S Warren R

d / State R

d 5

I-69

278

278




FOR SALEINVESTMENT




Ugalde’s Family

Restaurant

Warren Truck & Trailer

Repair Shop

Warren Travel Plaza

Arlington Inn & Suites

Site Plan - Contact Broker for Detailed Plan

State Road

5State R

oad 5

75 East75 East

75 East75 East

I-69

278




FOR SALEINVESTMENT




Floor Plan - Contact Broker for Detailed Plan

103SS

203

QQ

201

Q

Stairs

Stairs

Stairs

Stairs

Laundry Office Lobby

First Floor

Second Floor

Exi

t

Ent

ranc

eE

ntra

nce

Entrance

Entrance

105Q

205

QQ

107Q

207

QQ

109QQ

209

QQ

111K

211

QQ

113QQ

213

QQ

115QQ

215

QQ

117K

217

QQ

119QQ

219

QQ

121QQ

221

QQ

123QQ

223

QQ

125Q

225

Q

124

Q

224

Q

122

Q

222

Q

120

K

220

K

118

K

218

K

116

Q

216

K

114

K

214

K

112

K

212

K

210

K

208

K

206

K

204

K

202

Q

200

Q




FOR SALEINVESTMENT







FOR SALEINVESTMENT







FOR SALEINVESTMENT




© 2020 Sturges, LLC. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

Property Name Arlington Inn & Suites

Address 7281 S 75 E

City, State, Zip Warren, IN, 46792

County Huntington

Township Salamonie

Parcel No. 35-12-07-100-014.505-016

2018 Tax/Payable 2019 $10,177.24

Property Type Hotel

Total Area SF 17,820

Occupancy Rate 30% - 40%

Year Built1999 / Hotel sold to current

Seller in 2015

Renovated 2016-2018

No. of Stories 2 Price

Configuration

Two-story, interior-corridor,

wood frame with exterior

stucco/EIFS system

Terms

No. of Rooms 45 NOI 2018 $33,573.13

Elevators N/A NOI 2019 $52,943.72

Roof Wood Joist/Wood Deck

Heating Package System

A/C Package System Ceiling Height - Clear

Sprinklered Yes Equipment

ADA Compliant Yes Trailer Parking

Restrooms 1

Food & Beverage N/A

Meeting Space Lobby

Amenities

24-hour lobby, food/beverage,

microwave/mini-fridge, guest

laundry, ample free parking

Interest Fee-simple

Affiliation Affinity Inn & Resorts

Site Acreage 1.6

Zoning & Description AB

Parking Description Surface

Parking count/ratio Ample

Nearest Interstate I-69

CONTACT US

ADDITIONAL INFORMATION- +/- 17,820 SF Inn with 45 Rooms

- Well-Maintained Asset Built In 1999

- Strategic Proven Location in The Heart of Midwest & Indiana

- Billboard Visibility from Interstate 69

- Financials Available Upon Request

SITE DATA

COMMERCIAL IMPROVED FOR SALE

BUILDING INFORMATION

Unpriced

Cash at Closing

Owner Financing

SALE INFORMATION

Neal Bowman

Senior Broker

260 424 8448

[email protected]

Philip Hagee

Listing Manager

260 424 8448

[email protected]

Stephanie Petras

Brokerage Marketing Assistant

260 424 8448

[email protected]

202 W. Berry Street, Suite 500

Fort Wayne, IN 46802

SturgesProperty.com

260 424 8448

Work with a group that puts your interests first.

Neal BowmanSenior Broker

Bill CuppSenior Broker

Brady GardnerBroker

Andrew EckertBroker

Robert DoyleBroker

260 424 8448SturgesProperty.com

Whether you’re looking for sales, leasing, investment, or property management, your venture starts with Sturges Property Group.

Kevin EllisBroker

Barry Sturges, CPM®Chief Executive Officer

Brad SturgesPresident

John CaffrayVice President of Brokerage

BROKERAGE TEAM

Arlington Inn & Suites - LoopNet · 2020. 1. 29. · Property Description This offering is to...

Documents

Transcript of Arlington Inn & Suites - LoopNet · 2020. 1. 29. · Property Description This offering is to...