Quality Inn & Conference Center
Price reduction for quick sale
383 E Leffel Lane | Springfield, OH 15505-4746 | View Map
- Opened: 1972
- Rooms: 150
- Structure: Two Story, Interior Corridor
- Land: Fee Simple 7.03 Acres
- Price: Contact broker for pricing
- Status: Available
- Offered at $2.99m with quick close. Only 1.8 X GR or $19,933/key to purchase.
- PIP for Clarion conversion estimated to be $700k or $4,666 per key
- All-in cost after Clarion POIP approximately $24,599 per room.
- PIP for QI not determined yet - application will need to be submitted.
- Trailing 12 Net Operating Income: $126,773
- Many potential changes to management could yield Year-one NOI of $300k
- 150 guestrooms
- Two-story interior corridor building
- Large meeting/conference space, game room, and indoor pool
- Near local area businesses such as the Aldi Distribution Center, Community Mercy Health Partners, Dole, Eby Brown, Gordon Foods Distribution Center, Navistar International, Rittal, Speedway SuperAmerica LLC, and Teikuro Corporation
- Tremendous upside to this hotel, turn around opportunity
- Absentee owner, great turn-around opportunity for an owner/operator or management company to do much better
- The only full service hotel in the area. The Food and Beverage support the rooms division and could be expanded or leased
- Low Occupancy, ADR, and Revpar could be improved dramatically by approaching the comp set through property improvements and better management