Comfort Inn & Suites Baltimore Inner Harbor 120 E Lombard St

97 Hotel Rooms Online Auction Sale Baltimore, MD 21202

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We have been authorized to place a counterbid on the seller’s behalf in order to encourage buyer and seller toward a mutually agreeable price. We will stop counterbidding once the seller’s reserve price has been met.
Auction On April 21 - 23, 2025
51 DAYS d
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18 HRS h
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23 MIN m
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07 SEC s
Auction Starts
1290 HRS h
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23 MIN m
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Auction Ends
Finalizing
$1,500,000
Starting Bid
--
Current Bid
$500,000
Bid Increment
$1,500,000
Next Bid
Status
Reserve Not Met
In Progress
5,175
Total Views
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$1,500,000
Starting Bid
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Bid Increment
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Next Bid
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In Progress
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Virtual Tour

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

Colliers is pleased to invite qualified investors to secure 120 E Lombard Street, the Comfort Inn & Suites Baltimore Inner Harbor. This perfectly positioned, Choice-branded hotel in Downtown Baltimore offers significant value-add potential. Despite the property’s best-in-class location, the hotel currently falls behind competitors in occupancy, providing a new owner with the chance to seize substantial operational upside to improve performance and drive increased revenue.

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

MARKET ANALYTICS Click Here to Access

$99,999

Asset Value

$99,999

12 Month Sales Volume

12 Month Sales Volume
Total
Lowest
Highest
Transactions
999
-
-
Sales Volume
$99,999
$99,999
$99,999
Properties Sold
999
-
-
Transacted Rooms
999
999
999
Average Rooms
999
999
999

9.9%

Market Cap Rate

9.9%

Market Sale Price/Room Change (YOY)

12 Month Sales Price
Average
Lowest
Highest
Market
Cap Rate
9.9%
9.9%
9.9%
9.9%
Sale Price/Room
$99,999
$99,999
$99,999
$99,999
Sale Price
$99,999
$99,999
-
-
Sale vs Asking Price
-9.9%
-9.9%
-9.9%
-
Months to Sale
9.9%
9.9%
9.9%
-

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 -
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (84)

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

ZONING

Zoning Code C-5DC

SALE ADVISOR

SALE ADVISOR

(202) 534-3000
Contact
Matthew Gannon, Managing Director & Market Leader
(202) 534-3000
Contact
As Managing Director and Market Leader, Matt Gannon responsible for the strategic direction and performance of Colliers offices in Washington, DC, Northern Virginia and Maryland, comprising more than 50 real estate professionals, who provide clients with best-in-class service for tenant advisory, landlord services, corporate solutions, capital markets, development and consulting, valuation and appraisal, marketing and research. Matt utilizes his knowledge of the Washington, DC market to increase market share and continue adding top-tier talent while guiding the firm’s overall strategy in the region.

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.

ABOUT THE AUCTION PLATFORM

Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT

Cheri Mascitelli
Auctioneer License: Ten-X Vibhav Kapila RE Brkr 660150
  • Listing ID: 34831299

  • Date on Market: 2/26/2025

  • Last Updated:

  • Address: 120 E Lombard St, Baltimore, MD 21202