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3521 Lake City Hwy
Warsaw, IN 46580

$3,200,000 USD

Hotel For Sale  •  22,756 SF

Property Details

  • Property Type Hotel
  • Total Building Size 22,756 SF
  • Lot Size 1.69 AC
  • Building Class C
  • Year Built 1973
  • Zoning C-3 A
0 Transit Score
32 Walk Score

Description

This well-maintained, 2-story exterior corridor hotel comprises a total of 70 guest rooms, including 20 fully equipped kitchen suites tailored for extended stays. Each kitchen suite is thoughtfully designed with a stovetop, refrigerator, microwave, and sink, making it an ideal choice for medical professionals, contractors, and relocating families seeking comfort and convenience during their stay. Additionally, all rooms feature brand new air conditioners, as well as a refrigerator and microwave.

The property has undergone substantial capital improvements across all areas, ensuring its competitive position in the market. Recent upgrades include:

Brand new roof
Completely updated plumbing
Upgraded electrical systems, including new smoke detectors and new televisions in all rooms
Installation of new RFID locks, providing enhanced security for guests
New drywall throughout the property, contributing to both aesthetic appeal and functionality
Newly paved parking lot, offering ample and well-maintained parking for guests
New windows and doors, improving energy efficiency and the property's overall curb appeal
Complete bathroom renovations, including modern standing showers and new toilets
New furniture in all rooms, including bed frames and mattresses, ensuring a fresh and comfortable guest experience
Manager's office-2 room with kitchen for convenient on-site management

These comprehensive upgrades not only enhance the property's overall appearance and functionality but also significantly reduce future maintenance requirements. As a result, the hotel is positioned for long-term operational efficiency while providing an elevated guest experience. These enhancements ensure the property remains competitive in the market, supporting sustained profitability and a solid return on investment.

Highlights

Prime Location: Situated along the high-traffic Lake City Highway (US-30) corridor, ensuring excellent visibility and accessibility for both transient
Brand Conversion Opportunity: Potential for Key Money from well-established hotel brands such as Choice Hotels, Wyndham, and Red Roof Inn
Fully Equipped Kitchen Suites: 20 kitchen suites featuring stovetop, refrigerator, microwave, and sink
Recent Capital Improvements: Extensive renovations and updates including a new roof, upgraded plumbing, electrical systems, new drywall, New Furniture

Major Tenants

Tenant SF Occupied Lease End Date
Lalit Patel

Amenities

  • Business Center
  • High Speed Internet Access
  • Public Access Wifi
  • Smoke-Free

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 79
Type: Surface
Included in Rent: Yes
Deep Patel 562-685-8984 Shivpal LLC
Deep Patel 562-685-8984 Shivpal LLC