Fairfield Inn Racine Wisconsin | 6421 Washington Ave
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Fairfield Inn Racine Wisconsin 6421 Washington Ave
62 Hotel Rooms Online Auction Sale Racine, WI 53406
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Investment Highlights
- Fee simple interest in the institutionally owned 62-room Fairfield Inn in Racine, Wisconsin.
- Part of a four-property portfolio, with all properties being sold individually.
- Offered unencumbered by brand, with a variety of alternative branding options available for conversion.
- Available for purchase in the January 23rd auction event via Ten-X.
- Offered unencumbered by management and debt and a significant discount to replacement cost.
- Strong operational upside in transitioning the asset out of institutional ownership and third-party management.
Executive Summary
Easily accessible from, and highly visible along, the heavily trafficked Washington Avenue corridor, with over 7,000 vehicles passing daily.
Located within five miles of Racine’s five largest employers: SC Johnson & Son, Modine Manufacturing, CCB Technology, Johnson Financial Group, and Johnson Outdoors.
Readily accessible to all local leisure demand drivers, including downtown Racine, the Racine Art Museum, and the Lake Michigan lakefront and beaches.
Opportune time to invest in Racine County, with Microsoft's recent announcement of a $3.3 billion planned AI infrastructure investment—one of the largest private-sector investments in Wisconsin’s history.
Property tours available by appointment only. Please contact the listing broker to schedule.
Broker of Record: Jon Nesbitt, WI License #58762-90
Located within five miles of Racine’s five largest employers: SC Johnson & Son, Modine Manufacturing, CCB Technology, Johnson Financial Group, and Johnson Outdoors.
Readily accessible to all local leisure demand drivers, including downtown Racine, the Racine Art Museum, and the Lake Michigan lakefront and beaches.
Opportune time to invest in Racine County, with Microsoft's recent announcement of a $3.3 billion planned AI infrastructure investment—one of the largest private-sector investments in Wisconsin’s history.
Property tours available by appointment only. Please contact the listing broker to schedule.
Broker of Record: Jon Nesbitt, WI License #58762-90
Data Room Click Here to Access
- Purchase Agreement
- Title and Insurance
- Operating and Financial Statements
Market Analytics Click Here to Access
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Market Sale Price per Room
Wisconsin South USA
Market Cap Rate
Wisconsin South 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 | No. Rooms | 62 |
| Sale Conditions | Auction Sale | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1991/2016 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 1.52/1,000 SF |
| Lot Size | 2.24 AC | Corridor | Interior |
| Building Size | 28,890 SF |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.24 AC |
| Building Size | 28,890 SF |
| No. Rooms | 62 |
| No. Stories | 3 |
| Year Built/Renovated | 1991/2016 |
| Tenancy | Single |
| Parking Ratio | 1.52/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 15 | $149.00 | - |
| Guest Room | 47 | $124.00 | - |
PROPERTY TAXES
| Parcel Number | 151-032214097000 | Improvements Assessment | $1,064,900 |
| Land Assessment | $1,359,100 | Total Assessment | $2,424,000 |
PROPERTY TAXES
Parcel Number
151-032214097000
Land Assessment
$1,359,100
Improvements Assessment
$1,064,900
Total Assessment
$2,424,000
zoning
| Zoning Code | C |
| C |
Sale Advisors
Sale Advisors
Joseph Cuomo, Principal & Founder
(646) 425-5632
Contact
Joseph Cuomo is a principal and founding member of Alchemy Real Estate Advisors (AREA). He brings 25 years of commercial real estate experience in investment sales, capital markets, special servicing, and investment banking to the Alchemy team. Before founding Alchemy, Joseph oversaw Ten-X’s institutional auction sales platform and personally transacted more than $2 billion of commercial real estate. Before that, Joseph managed LNR Partners’ loan sale advisory business and founded Lighthouse Advisory Services, a commercial real estate consulting firm. Joseph’s earlier roles include Vice President at Merrill Lynch, specializing in CMBS securitizations, and various roles at Deutsche Bank Securities and Ernst & Young. Joseph graduated cum laude from the University of Miami and holds a Bachelor of Business Administration degree.
Brent Clemens, Principal & Founder
(312) 402-2959
Contact
Brent Clemens is a principal and founding member of Alchemy Real Estate Advisors (AREA). Brent brings extensive expertise to the Alchemy team and over 20 years of experience in hotel investment sales. He started his career with CBRE’s hotel investment sales team and later served as Senior Managing Director at Paramount Lodging Advisors. Brent has personally managed over 300 hotel and non-hotel non-performing loan sales, totaling nearly $3 billion in market capitalization. These transactions include single-asset and portfolio sales for many of the industry’s top institutional investors, lenders, and special servicers. Brent earned his bachelor’s degree from the University of Notre Dame.
Bennett Webster, Principal & Founder
(312) 339-3698
Contact
Bennett Webster is a principal and founding member of Alchemy Real Estate Advisors (AREA). Bennett has overseen the sale of nearly $3 billion in non-performing hotel and hotel loan assets, encompassing over 300 transactions throughout his career. These transactions include asset and note sales on behalf of prominent national and multinational private equity firms, REITs, lenders, and servicers. This includes extensive experience with CMBS REO, receiver sales, and non-performing loan sales. Before founding Alchemy, Bennett was a Senior Managing Director at Paramount Lodging Advisors. Bennett earned his MBA in Real Estate Finance & Investment from DePaul University Kellstadt School of Business and his bachelor’s degree in finance from Bentley University.
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.
Read More
Auction Contact
Cheri Mascitelli
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 937838-91 Ten-X Auction Firm 481-53 Samantha Corbat Auctioneer 4028-52
Contacts
-
Joseph Cuomo -
Adam Montufar -
Brent Clemens -
Bennett Webster -
Alchemy Real Estate Advisors, LLC
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Fairfield Inn Racine Wisconsin | 6421 Washington Ave
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