Fairfield Evansville West | $3 M Room Revenue | 5400 Weston Rd
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Fairfield Evansville West | $3 M Room Revenue 5400 Weston Rd
110 Room Hotel Evansville, IN 47712 $10,828,000 ($98,436/Room) 9.05% Cap Rate
Investment Highlights
- Turnkey Property: The hotel was fully-renovated (“pipped”) in 2022 and does just over $3 million in T12 room revenue
- Long-term License: Marriott license term through 2037
- Demand Drivers: University of Southern Indiana (10,000 students), Bally's Casino, and Ford Center among others
- Limited Competition: Only one other hotel is within five (5) miles of the University
Executive Summary
Mitchell Glasson of Matthews Real Estate Investment Services is pleased to present the exclusive listing opportunity for Fairfield Evansville West featuring license term through 2037, full PIP completed in 2022, and over $3,000,000 in Trailing 12-Month Room Revenue. Evansville, the 3rd largest city in Indiana, is home to various demand drivers including Ford Center, Bally's Casino, and universities such as the University of Southern Indiana with an enrollment of 10,000 students.
Local Higher Education
-Oakland City University
-University of Evansville
-University of Southern Indiana
Prominent Corporate Institutions
-Toyota Motor Manufacturing
-TJ Maxx
-Berry Global (HQ) largest plastics processor in North America (47,000 global employees)
Tourism & Leisure
-Ford Center hosts concerts and sporting events
-Evansville Museum of Arts
-Mesker Park Zoo & Botanic Gardendents.
Broker of Record
Kyle Matthews
License No. RC52200195 (IN)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Broker of Record
Kyle Matthews
License No. RC52200195 (IN)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Local Higher Education
-Oakland City University
-University of Evansville
-University of Southern Indiana
Prominent Corporate Institutions
-Toyota Motor Manufacturing
-TJ Maxx
-Berry Global (HQ) largest plastics processor in North America (47,000 global employees)
Tourism & Leisure
-Ford Center hosts concerts and sporting events
-Evansville Museum of Arts
-Mesker Park Zoo & Botanic Gardendents.
Broker of Record
Kyle Matthews
License No. RC52200195 (IN)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Broker of Record
Kyle Matthews
License No. RC52200195 (IN)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$850,000
|
$13.88
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $850,000 |
| Annual Per SF | $13.88 |
Property Facts
| Price | $10,828,000 | Building Size | 61,244 SF |
| Price Per Room | $98,436 | No. Rooms | 110 |
| Sale Type | Investment | No. Stories | 4 |
| Cap Rate | 9.05% | Year Built/Renovated | 1995/2022 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 1.38/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 3.40 AC |
| Price | $10,828,000 |
| Price Per Room | $98,436 |
| Sale Type | Investment |
| Cap Rate | 9.05% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.40 AC |
| Building Size | 61,244 SF |
| No. Rooms | 110 |
| No. Stories | 4 |
| Year Built/Renovated | 1995/2022 |
| Tenancy | Single |
| Parking Ratio | 1.38/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 3 | $209.00 | - |
| Guest Room | 107 | $174.00 | - |
PROPERTY TAXES
| Parcel Number | 82-05-28-007-427.001-024 | Improvements Assessment | $3,613,200 |
| Land Assessment | $821,100 | Total Assessment | $4,434,300 |
PROPERTY TAXES
Parcel Number
82-05-28-007-427.001-024
Land Assessment
$821,100
Improvements Assessment
$3,613,200
Total Assessment
$4,434,300
zoning
| Zoning Code | HB (Highway Business) |
| HB (Highway Business) |
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Fairfield Evansville West | $3 M Room Revenue | 5400 Weston Rd
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