Fairfield Inn & Suites Saint Clairsville OH | 67731 Mall Rd
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Fairfield Inn & Suites Saint Clairsville OH 67731 Mall Rd
66 Hotel Rooms Online Auction Sale Saint Clairsville, OH 43950
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Investment Highlights
- Leasehold interest in the institutionally-owned, recently renovated, and third-party managed 66-room Fairfield Inn & Suites St. Clairsville, Ohio
- Potential opportunity to convert following short term licensure with Marriott and recoup investment through hands-on management / cash flow
- Significant operating improvement prospects following transferring to a regional owner/operator model with strong local economies of scale
- Unencumbered by third-party management with an opportunity to retain the Fairfield brand for the remaining term with no PIP costs
- Strategically located off I-70 allowing easy access to regional markets with over 50,000 vehicles passing the location daily
- Readily accessible to all local energy and manufacturing demand, including Stingray Energy Services, Murray Energy, Nickles Bakery, and United Dairy.
Executive Summary
Leasehold interest in the institutionally-owned, recently renovated, and third-party managed 66-room Fairfield Inn & Suites St. Clairsville, Ohio.
Unencumbered by third-party management with an opportunity to retain the Fairfield brand for the remaining term with no PIP costs.
Potential opportunity to convert following short term licensure with Marriott and recoup investment through hands-on management / cash flow from operations.
Strategically located off I-70 allowing easy access to regional markets with over 50,000 vehicles passing the location daily.
Significant operating improvement prospects following transferring to a regional owner/operator model with strong local economies of scale.
Located near all local university demand, including Wheeling Jesuit University, West Liberty University, West Virginia Northern Community College, Belmont College, and Ohio University Eastern Campus, accounting for 6,000 students.
Proximate to all healthcare demand, including the 223-bed Wheeling Hospital, 140-bed East Ohio Regional Hospital, and the under-construction Trinity Hospital.
Situated near all area corporate demand, including Riesbeck’s food Markets headquartered in St. Clairsville, Stingray Energy Services, and American Consolidated Natural Resources, Inc.
Strong area regional leisure demand includes WesBanco Arena, Carriage House Museum, Capitol Theatre, Belmont County Fairgrounds, and Wheeling Island Casino and Racetrack, which features 1,400 slots, 20 table games, and a 9-table poker room.
Listed by Errol D'Souza with Laurel Real Estate Company, OH license #BRK2002016764.
Unencumbered by third-party management with an opportunity to retain the Fairfield brand for the remaining term with no PIP costs.
Potential opportunity to convert following short term licensure with Marriott and recoup investment through hands-on management / cash flow from operations.
Strategically located off I-70 allowing easy access to regional markets with over 50,000 vehicles passing the location daily.
Significant operating improvement prospects following transferring to a regional owner/operator model with strong local economies of scale.
Located near all local university demand, including Wheeling Jesuit University, West Liberty University, West Virginia Northern Community College, Belmont College, and Ohio University Eastern Campus, accounting for 6,000 students.
Proximate to all healthcare demand, including the 223-bed Wheeling Hospital, 140-bed East Ohio Regional Hospital, and the under-construction Trinity Hospital.
Situated near all area corporate demand, including Riesbeck’s food Markets headquartered in St. Clairsville, Stingray Energy Services, and American Consolidated Natural Resources, Inc.
Strong area regional leisure demand includes WesBanco Arena, Carriage House Museum, Capitol Theatre, Belmont County Fairgrounds, and Wheeling Island Casino and Racetrack, which features 1,400 slots, 20 table games, and a 9-table poker room.
Listed by Errol D'Souza with Laurel Real Estate Company, OH license #BRK2002016764.
Data Room Click Here to Access
- Operating and Financials
- PIP
- Financing Terms
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Property Facts
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 22 | $104.00 | - |
| Guest Room | 44 | $99.00 | - |
PROPERTY TAXES
| Parcel Number | 32-03143-001 | Improvements Assessment | $893,390 |
| Land Assessment | $233,710 | Total Assessment | $1,127,100 |
PROPERTY TAXES
Parcel Number
32-03143-001
Land Assessment
$233,710
Improvements Assessment
$893,390
Total Assessment
$1,127,100
zoning
| Zoning Code | Commercial |
| Commercial |
About the Seller
Read More
Sale Advisors
Sale Advisors
Eric Skipworth, Associate
(312) 248-4109
Contact
Eric Skipworth is an associate broker at the Paramount Lodging Advisors HQ in Chicago. He is focused on hotel markets in the Midwest United States and surrounding areas.
Eric also has a strong background in valuation work for national clients and portfolio deals and sourcing, underwriting and presenting investment deals to internal and external partners.
Prior to PLA, Eric began his career working in operations for Marriott International before transitioning into real estate consulting. Eric is a graduate of University of Kentucky and the Kellstadt Graduate School of Business at DePaul University.
Eric earned his bachelor’s degree from the University of Kentucky and his Master’s in Real Estate from DePaul University.
Eric also has a strong background in valuation work for national clients and portfolio deals and sourcing, underwriting and presenting investment deals to internal and external partners.
Prior to PLA, Eric began his career working in operations for Marriott International before transitioning into real estate consulting. Eric is a graduate of University of Kentucky and the Kellstadt Graduate School of Business at DePaul University.
Eric earned his bachelor’s degree from the University of Kentucky and his Master’s in Real Estate from DePaul University.
Mike Schlictman, Partner
(803) 920-4173
Contact
Mike Schlictman is a Director with Paramount Lodging Advisors. He focuses on individual and portfolio hotel transactions across the country with in-depth knowledge of hotel markets in the Midwest and the Southeast United States. Since 2013, Mike’s transaction volume includes 129 hotel assets totaling more than $400MM. Prior to joining Paramount Lodging Advisors, Mike worked in property management, financial consulting, and accounting. Mike received his Bachelor of Science in Supply Chain Management from the Kelley School of Business at Indiana University and received his Masters of Business Administration in Real Estate Finance and Investment from the Kellstadt Graduate School of Business at DePaul University.
Andrew Makhlouf, Director
(312) 610-9067
Contact
Andrew Makhlouf is a Director with Paramount Lodging Advisors based in Chicago, IL. Prior to joining Paramount Lodging Advisors, Andrew worked as an attorney representing clients in commercial and residential real estate transactions. He also has significant experience in wireless telecommunications deployment, assisting wireless infrastructure providers with all aspects of small cell deployment, wireless tower ground leases, and antenna leases. Since joining Paramount in 2019, Andrew’s transaction volume includes more than 75 hotel assets totaling more than $580MM and has serviced clients, including Blackstone, Starwood Capital, LNR Partners, Midland Loan Services, Rialto Capital Advisors, RLJ Lodging Trust, Taconic Capital, and Noble Investment Group.
Andrew received his bachelor’s degree in history and international relations from DePaul University, and his juris doctor from the John Marshall Law School.
Andrew received his bachelor’s degree in history and international relations from DePaul University, and his juris doctor from the John Marshall Law School.
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
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Commercial, LLC Samantha Corbat RE Brkr REC.2019003563; Ohio Department of Agriculture- Auctioneer Program: Ten-X Commercial, Inc. (Ten-X, Inc.) Auctioneer Corporation 2022000147 Samantha Corbat Auctioneer 2023000126
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Eric Skipworth -
Mike Schlictman -
Andrew Makhlouf -
Paramount Lodging Advisors
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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 & Suites Saint Clairsville OH | 67731 Mall Rd
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Fairfield Inn & Suites Saint Clairsville OH | 67731 Mall Rd
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