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3041 W 12th St
Erie, PA 16505
Comfort Inn, Erie - Near Presque Isle · Hospitality Property For Sale · 45,414 SF
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1994/2019 |
| Building Class | B | Tenancy | Single |
| Lot Size | 3.00 AC | Parking Ratio | 2.64/1,000 SF |
| Building Size | 45,414 SF | Corridor | Interior |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.00 AC |
| Building Size | 45,414 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1994/2019 |
| Tenancy | Single |
| Parking Ratio | 2.64/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
About 3041 W 12th St , Erie, PA 16505
Marcus & Millichap is pleased to present the Comfort Inn Presque Isle in Erie, Pennsylvania. The property is located less than 10 minutes south of downtown Erie, Pennsylvania. The hotel is one and a half hour east of Cleveland Ohio and one and a half hour west of Buffalo New York. Built in 1994, and renovated in 2017 this 100 room, interior corridor hotel is three stories featuring block and plank construction. The Comfort Inn Presque Isle offers common area amenities including a complimentary breakfast, 24-hour business center, complimentary Wi-Fi internet service, airport shuttle service, vending machines, and outdoor pool. Room amenities include a flat screen TV, coffee maker, iron/ironing board, desk & chair, room safe, and hair dryer. Select rooms have microwaves and minifridges. The Comfort Inn is priced to sell at 3.23 times room revenue multiplier which is below replacement cost at $51,950/per key. The hotel has a June 2019 trailing 12 occupancy of 51.7% and an ADR of $78.69 and a revPAR of $43.84. With the late 2017 completion of a full PIP the Comfort Inn is expected to regain market share and stabilize at $1.815 million in year 5 and generate $648,589 in NOI with a hands on investor.
PROPERTY TAXES
| Parcel Number | 33-034-171.0-047.00 | Improvements Assessment | $3,477,300 |
| Land Assessment | $522,700 | Total Assessment | $4,000,000 |
PROPERTY TAXES
zoning
| Zoning Code | RB |
| RB |
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