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Comfort Inn Hobart - Merrillville 1915 Mississippi St

60 Room Hotel Hobart, IN 46342 $4,999,999 ($83,333/Room)

Executive Summary

Prime location near major highways/corporate customers/attractions
High occupancy
Leader in STR reports for many years

Property Facts

Price $4,999,999
Price Per Room $83,333
Sale Type Investment
Sale Conditions Business Value Included
Property Type Hospitality
Property Subtype Hotel
Building Class B
Lot Size 1.33 AC
Building Size 30,615 SF
No. Rooms 60
No. Stories 3
Year Built/Renovated 1996/2020
Tenancy Single
Parking Ratio 2.12/1,000 SF
Corridor Interior

Amenities

  • Fitness Center
  • Indoor Pool
  • Public Access Wifi
  • Smoke-Free
  • Fiber Optic Internet

About 1915 Mississippi St , Hobart, IN 46342

*APPOINTMENTS ONLY - Staff is not aware of the business being listed for sale* *DO NOT CALL HOTEL* Very strong STR reports, #1 in many areas for many years! Location: NWI - Right off of I-65 (Exit 255) and next to Route 30! Downtown Chicago (30 miles) Indiana Dunes National Park (15 minutes) Hard Rock Casino & Concert Hall (Hard Rock Hotel does not exist) (15 minutes) BP Whiting Oil Refinery (BP's largest refinery in the world) (15 minutes) Deep River Water Park (10 minutes) Crown Point Sports Complex (10 minutes) Southlake Mall (5 minutes) Turkey Creek Golf Course (5 minutes) Albanese Candy Factory (5 minutes) Factories (Industrial complex across the street) Train line to downtown Chicago - Millennium Park (coming soon) (25 min) Surrounded by restaurants (Cracker Barrel, McDonald's, Taco Bell, Wendy's, Arby's, Semi-truck and car/truck repair shop, etc.) Updates: New Amana PTAC units New Double-Sided upgraded Mattresses, Box Springs, & Bed Bases New 55-inch TVs New Premium Luggage Carts Newly Renovated Indoor Swimming Pool New Hair Dryers, Coffee Machines, & Ice Buckets New Back-up Boiler system that functions can function as a load-balancer or redundancy system (each one can independently support fully occupied hotel) New Mixing Valve and Boiler Motors New Windows (7 years old - previous owner) Roof (est. 8 years old - previous owner) LED lighting throughout property New Fire Panel and Smoke Detectors throughout whole property New Full-Length Mirrors in Guest Rooms New Internet Equipment for Fiber and 1GB download speed including Ubiquity access points New Lamp Shades New Whirlpool Coin Laundry (2 washers, 2 dryers, 1 dispenser) New True Fitness Equipment New Carpet (50% guest rooms completely new carpet and pad 2024, other 50% carpet replaced 2-3 years ago and is in great shape - 4x professional shampoo per year) New Commercial Washers and Dryers (2 of each, including one Yamamoto washer) Garbage cans (guestroom and public areas) New Exterior Signage New Interior Signage (including welcome wall, wet floor, quiet hours, etc.) New Swimming Pool Furniture New Swimming Pool Vinyl Liner and pool surface refinishing underneath liner New KABA RFID Door Locks (completed installation March 7, 2024) New Brick Fireplace TV Wall in Lobby New Lobby Rug and Lights New Guest Room chairs New Landscaping These upgrades were done on a rolling basis and the customers are just now experiencing many upgrades. Swimming Pool was shut down for renovations for half of 2023. This coincided with the highway exit being closed for construction and many rooms being out of order for renovations. Breakfast was also not served in 2023 for many months due to renovations so rates were lowered during that time. An NDA will be sent over to you via email and after it is signed, a folder will be shared with you and a site visit can be scheduled.

Room Mix Information

Description No. Rooms Daily Rate SF
Suite 4 $81.00 -
Guest Room 56 $55.00 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
45-12-11-103-001.000-046
Land Assessment
$555,400
Improvements Assessment
$1,844,400
Total Assessment
$2,399,800

zoning

Zoning Code R33
R33
  • Listing ID: 34145787

  • Date on Market: 12/10/2024

  • Last Updated:

  • Address: 1915 Mississippi St, Hobart, IN 46342

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