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Fairway Inn 14845 State Road 156 42 Room Hotel Florence, IN 47020 $2,154,918 CAD ($51,308 CAD/Room) 5.50% Cap Rate
Executive Summary
41-room hospitality opportunity located directly across from Belterra Casino Resort in Florence, Indiana. The Fairway Inn has operated under long-term ownership for approximately 22 years & offers established operations with strong regional demand drivers & owner-operator potential. The property consists of approximately 19,542 sqft with 41 guest rooms plus a 1-bedroom manager apartment with kitchen & living area. Recent improvements include a new metal roof installed in 2024 with ownership maintaining the property throughout their operation. Sale includes substantially all furniture, fixtures, equipment (FF&E), including beds, linens, appliances, computers, office equipment, & operational inventory currently used in the operation of the business. Existing staffing & operational infrastructure are in place, offering a turnkey hospitality opportunity with continued upside potential in a destination-driven market.
Property Facts
| Price | $2,154,918 CAD | Lot Size | 1.78 AC |
| Price Per Room | $51,308 CAD | Building Size | 19,542 SF |
| Sale Type | Investment | No. Rooms | 42 |
| Cap Rate | 5.50% | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 2002 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | CH | ||
| Price | $2,154,918 CAD |
| Price Per Room | $51,308 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.78 AC |
| Building Size | 19,542 SF |
| No. Rooms | 42 |
| No. Stories | 2 |
| Year Built | 2002 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | CH |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 2 | $262.76 CAD | - |
| Guest Room | 40 | $137.64 CAD | - |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 78-13-01-100-003.001-008 | Improvements Assessment | $926,198 CAD |
| Land Assessment | $192,830 CAD | Total Assessment | $1,119,028 CAD |
Property Taxes
Parcel Number
78-13-01-100-003.001-008
Land Assessment
$192,830 CAD
Improvements Assessment
$926,198 CAD
Total Assessment
$1,119,028 CAD
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Fairway Inn | 14845 State Road 156
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