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Econo Lodge Inn & Suites Monroe 6500 E Albain Rd 63 Room Hotel Monroe, MI 48161 $4,150,800 CAD ($65,886 CAD/Room) 8.33% Cap Rate
Investment Highlights
- Conveniently Located off Interstate 75, Exit 11 and is Adjacent to The Links at the Lake Erie Golf Course
- Econo Lodge Inn Hotel was Opened in 1997 and has Been Affiliated with Choice Hotels International Since
- Spacious Lobby, Isolated Breakfast Room, Meeting Room, Indoor Pool, Business Center, Exercise Room, Sun Deck and Guest Laundry
Executive Summary
"I kindly request that initial contact be made via postal mail."
Do not call property.
The subject property is directly off Interstate 75 with favorable
egress/ingress. The property is known for having many repeat clients coming into the area. A new
owner can come in and be more hands on with the marketing and the revenue management of the
property by taking advantage of peak times. They can also reduce expenses which will increase
their bottom line
Econo Lodge is a three-story, 64-room hotel built in 1997 as Comfort Inn and Suites, fully renovated. Recent renovations include furniture, mattress.
Located in Monroe, The Econo Lodge Hotel is strategically located between Detroit, Michigan and Toledo, Ohio off
Interstate 75 via Monroe County Visitors and Tourism Bureau. Monroe county is the #1 tourist destination county in the
state of Michigan with over 20 million visitors annually. Lake Erie boating, the mall of Monroe and other recreational
activities contribute to the third of visitors. Tourism is a half billion dollar industry in Monroe county and those
expenditures include lodging. There is a lot of potential in the area with Fermi Three Nuclear Plant, and Pro-medica building
a hospital four miles from the property. Demand Generators are DTE, Consumers Energy, FERMI nuclear plant, PSC,
Tennenco Automotive, Milan Dragway, Lazy Boy, Gerdau Steel, Pro-medica Hospital, River Raisin Center for Arts, API
Construction Company, Advanced Heat Treat, Center for Life Enhancement, Monroe County Community College, Travel
Centre of America, State of Michigan, Meijers, Charter Communications, Newkirk and Veolia Environmental.
Do not call property.
The subject property is directly off Interstate 75 with favorable
egress/ingress. The property is known for having many repeat clients coming into the area. A new
owner can come in and be more hands on with the marketing and the revenue management of the
property by taking advantage of peak times. They can also reduce expenses which will increase
their bottom line
Econo Lodge is a three-story, 64-room hotel built in 1997 as Comfort Inn and Suites, fully renovated. Recent renovations include furniture, mattress.
Located in Monroe, The Econo Lodge Hotel is strategically located between Detroit, Michigan and Toledo, Ohio off
Interstate 75 via Monroe County Visitors and Tourism Bureau. Monroe county is the #1 tourist destination county in the
state of Michigan with over 20 million visitors annually. Lake Erie boating, the mall of Monroe and other recreational
activities contribute to the third of visitors. Tourism is a half billion dollar industry in Monroe county and those
expenditures include lodging. There is a lot of potential in the area with Fermi Three Nuclear Plant, and Pro-medica building
a hospital four miles from the property. Demand Generators are DTE, Consumers Energy, FERMI nuclear plant, PSC,
Tennenco Automotive, Milan Dragway, Lazy Boy, Gerdau Steel, Pro-medica Hospital, River Raisin Center for Arts, API
Construction Company, Advanced Heat Treat, Center for Life Enhancement, Monroe County Community College, Travel
Centre of America, State of Michigan, Meijers, Charter Communications, Newkirk and Veolia Environmental.
Property Facts
| Price | $4,150,800 CAD | Lot Size | 2.78 AC |
| Price Per Room | $65,886 CAD | Building Size | 36,278 SF |
| Sale Type | Investment | No. Rooms | 63 |
| Cap Rate | 8.33% | No. Stories | 3 |
| Sale Condition | Distress Sale | Year Built/Renovated | 1997/2023 |
| Property Type | Hospitality | Parking Ratio | 1.3/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C | ||
| Zoning | N/Av, Monroe | ||
| Price | $4,150,800 CAD |
| Price Per Room | $65,886 CAD |
| Sale Type | Investment |
| Cap Rate | 8.33% |
| Sale Condition | Distress Sale |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.78 AC |
| Building Size | 36,278 SF |
| No. Rooms | 63 |
| No. Stories | 3 |
| Year Built/Renovated | 1997/2023 |
| Parking Ratio | 1.3/1,000 SF |
| Corridor | Interior |
| Zoning | N/Av, Monroe |
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 | 16 | $199.24 CAD | - |
| Guest Room | 47 | $116.22 CAD | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 12-010-216-10 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,523,784 CAD |
Property Taxes
Parcel Number
12-010-216-10
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,523,784 CAD
1 of 6
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Presented by
Vijay Suryavanshi
Econo Lodge Inn & Suites Monroe | 6500 E Albain Rd
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