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Comfort Inn Kokomo 522 Essex Dr Kokomo, IN 46901

Hotel
63 Rooms
72.60% Occupied
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Property Details (522 Essex Dr, Kokomo, IN 46901)
Asset Type Commercial
Starting Bid $600,000
Participation Deposit $10,000
Property Comfort Inn Kokomo
Property Description 63-Room Comfort Inn Located in Kokomo, IN
Primary Property Type Hotel
Year Built 1990
Number of Buildings 1
Number of Rooms 63
Occupancy 72.6%
Occupancy As of Date 12/31/2017
Event Item # B231-456
Property ID 1000006603
Transaction Fee 5% of Winning Bid Amount (A minimum of $20,000 will apply)
  • Description
  • Due Diligence
Description for 522 Essex Dr, Kokomo, IN 46901

Property tours are available on the following dates by appointment. Please contact the listing broker to schedule a tour.
• February 22 & 23
• March 5 & 6

Investment Highlights:
• Fee-simple interest in the institutionally owned and third-party managed 63-room Comfort Inn offered at a fraction of replacement cost
• Property offered for sale through Ten-X in the March 21st auction
• Available unencumbered of debt and third-party management with the ability to retain the Comfort Inn brand
• Seller has completed approximately $424k (~$7k per key) of total renovation in recent years
• Adjacent to State Road 22 and State Road 931 interchange with upwards of 45,000 vehicles passing the location daily
• Optimal location in the heart of Kokomo within four miles of the city’s largest employers including Fiat Chrysler, General Motors, Delphi Technologies, Haynes International, and Indiana University Kokomo
• Within walking distance of numerous full-service nationally recognized restaurants
• Proximate to all broader Kokomo area demand including downtown Kokomo and Kokomo Municipal Stadium

Investment Overview:
Paramount Lodging Advisors (PLA) and Ten-X are pleased to exclusively present the opportunity to acquire the fee-simple interest in the Comfort Inn Kokomo, Indiana. Since 2014, the 63-room, two story hotel has undergone approximately $410,000 or $6.5k per key in capital improvements.

Located at 522 Essex Drive in Kokomo, the property is proximate to all regional demand generators including the Fiat Chrysler Automobiles, several healthcare providers, including Community Howard Regional Health and St. Vincent Hospital, and manufacturing or well renowned Fortune 500 Companies, such as Delphi, Haynes International, and General Motors Corporation.

Auctioneer Licensing Information

Ten-X Lee Leslie RE Brkr RB14029542. Online Auction. 




Property Details


Contact


Open House Information


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Redemption date of {[{value.description | auctionDate:'YYYY-MM-DD': "MMM DD, YYYY"}]}
  • Mike Schlictman
  • Paramount Lodging Advisors
  • 803-920-4173
  • mikes@paramountlodging.com
  • Contact

  • Daniel Beider
  • Paramount Lodging Advisors
  • IN RE Lic No: RB14040696
  • 312-239-0572
  • dbeider@paramountlodging.com
  • Contact
For auction related questions, contact:
  • Kirk Christensen
  • Ten-X
  • 949-672-3664
  • kirkc@ten-x.com
  • Contact
For registration, website, or transaction related questions, please call a Ten-X representative at (888) 770-7332.
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