Comfort Inn & Suites Baltimore Inner Harbor 120 E Lombard St
97 Hotel Rooms Online Auction Sale Baltimore, MD 21202
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INVESTMENT HIGHLIGHTS
- This Choice-branded hotel provides an excellent value-add investment, with a prime Downtown Baltimore location and substantial operational upside.
- Guests enjoy stunning harbor views as well as access to a fitness center, a business center, a laundry room, free hot breakfast, and high-speed Wi-Fi.
- Occupancy rates historically lag behind the competition, providing significant value-add potential to improve performance and increase cash flow.
- Ideally placed within walking distance of the National Aquarium, The Baltimore Convention Center, Oriole Park at Camden Yards, and M&T Bank Stadium.
- Benefits from over 27.5M annual visitors to the city, with more than 75% of overnight guests being return visitors | $4B economic impact.
EXECUTIVE SUMMARY
Spanning 12 stories with 97 high-quality guest rooms, Comfort Inn & Suites Baltimore Inner Harbor’s modern accommodations make it the perfect choice when visiting Baltimore’s most popular attractions. Guests can enjoy a free hot breakfast every morning to jumpstart a day of activities. Free Wi-Fi is also available throughout the hotel's guest rooms and common areas. Additional amenities include a fitness center, business center, and guest laundry room. Spacious, modern guest rooms and suites are designed to help visitors relax and make the most of their stay. Room amenities include a microwave, refrigerator, coffee maker, flat-screen TV, desk, and a hair dryer. Suites have a separate living room area, and select rooms offer stunning harbor views. The property completed an extensive renovation in 2023, allowing a new owner to complete a new PIP with minimal investment.
Staying at the Comfort Inn & Suites Baltimore Inner Harbor hotel allows guests to explore historical sites, dine at waterside restaurants, catch live sporting events, or visit one of the many local entertainment venues — this downtown hotel is at the heart of it all. The property sits within walking distance of the National Aquarium, Oriole Park at Camden Yards, M&T Bank Stadium, the Baltimore Convention Center, and Power Plant Live. The convention center hosted 33 events during 2024 which resulted in more than 175,000 overnight bookings.
The numerous popular destinations in the Inner Harbor draw impressive annual tourism to the area, providing a large audience of potential guests for the Comfort Inn & Suites Baltimore Inner Harbor. More than 27.5 million visitors traveled to the city in 2023, delivering over $4 billion to the local economy. Whether for work or pleasure, visitors often find reasons to return to Charm City, with more than 75% of overnight guests being return visitors.
Comfort Inn & Suites Baltimore Inner Harbor allows hospitality investors to acquire a highly visible hotel near Baltimore’s largest demand drivers with quality features and a lucrative operational upside.
Property tours are by appointment only. Please contact the Colliers team to learn more.
DATA ROOM Click Here to Access
- Operating and Financial Statements
- Purchase Agreement
- Title and Instruance
- Register to Bid Instructions
MARKET ANALYTICS Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
9.9%
Market Cap Rate
9.9%
Market Sale Price/Room Change (YOY)
Market Sale Price per Room
Baltimore - MD USA
Market Cap Rate
Baltimore - MD USA
Market Sale Price per Room by Class
Luxury & Upper Upscale
Upscale & Upper Midscale
Midscale & Economy
Market Cap Rate by Class
Luxury & Upper Upscale
Upscale & Upper Midscale
Midscale & Economy
Market Sale Price per Room Distribution
Market Cap Rate Distribution
PROPERTY FACTS
Sale Type | Investment |
Sale Condition | Auction Sale |
Type of Ownership | Fee Simple |
Property Type | Hospitality |
Property Subtype | Hotel |
Building Class | B |
Lot Size | 0.15 AC |
Building Size | 84,591 SF |
No. Rooms | 97 |
No. Stories | 12 |
Year Built/Renovated | 1984/2023 |
Tenancy | Single |
Corridor | Interior |
Opportunity Zone |
Yes |
AMENITIES
- Business Center
- Fitness Center
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
---|---|---|---|
Suite | 77 | $251.00 | - |
Guest Room | 20 | $225.00 | - |
ABOUT BALTIMORE CBD
Downtown Baltimore enjoys a strategic location at the center of the East Coast. Proximity to Philadelphia and Washington, D.C. (within one hour) as well as New York City (two and a half hours), combined with significant rail, port, and airport assets, mean that Baltimore's accessibility is a key component in driving lodging demand to the area. Area companies that drive transient demand include M&T Bank, Johns Hopkins Medicine, KPMG, and numerous law and financial service firms.
The Baltimore Convention Center, with 400,000 square feet of meeting and exhibit space, brings thousands of people to the city annually for meetings and conventions. Top places for leisure travelers to visit include the Maryland Science Center; the Baltimore Museum of Art; the Walters Art Museum; the American Visionary Art Museum the National Aquarium; and for sports fans, Camden Yards, home of the Major League Baseball Baltimore Orioles.
Baltimore Washington International Thurgood Marshall Airport (BWI) is located just south of downtown Baltimore and is the busiest airport in the Washington, D.C. metropolitan region. BWI had 27 million passengers in 2019, compared to 23.9 million at DCA and 24.8 million at IAD. BWI produces more than $9.3 billion in annual economic activity and supports more than 100,000 jobs in the region.
PROPERTY TAXES
Parcel Number | 0661-008 | Improvements Assessment | $5,363,000 |
Land Assessment | $1,286,400 | Total Assessment | $6,649,400 |
ZONING
Zoning Code | C-5DC |
SALE ADVISOR
Matthew Gannon, Managing Director & Market Leader
Matt joined Colliers from Paramount Group Inc. wherein 2014, he established the company’s leasing presence in the region. In his role, Matt led the teams responsible for Paramount’s DC commercial office portfolio, which consisted of 1.8 million square feet of Class A product. Prior to that, he worked for Vornado Realty Trust for 15 years, most recently as a Vice President of Leasing with a commercial office portfolio consisting of approximately 6 million square feet.