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25100 Northwestern HwySouthfield, MI 48075
Holiday Inn Express & Suites
Asset ClassHotel & Hospitality
Three-Story, 91-room, IHG-Branded, Interior-Corridor Hotel, 82 Suites, Renovated in 2019
overview of deal

Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale the Holiday Inn Express & Suites Southfield - Detroit (‘Hotel’ or ‘Property’) located in Southfield, Michigan. The property boasts exceptional performance metrics, with occupancy consistently exceeding the comp set by 5.8%, ADR surpassing by 8.3%, and RevPAR outperforming by 20.9%, showcasing its strong market positioning. Various common area amenities at the Property include an indoor heated pool with whirlpool hot tub, breakfast area, fitness center, four meeting rooms, laundry facility, and business center. Situated in the vibrant city of Southfield, Michigan, the hotel benefits from its strategic location within the Detroit metropolitan area.

 

Southfield is renowned for its thriving business landscape, cultural richness, and educational excellence, making it an attractive destination for both business and leisure travelers. The city offers a diverse array of cultural and entertainment options, including theaters, art galleries, and music venues. Visitors can enjoy live performances at prestigious venues like the Detroit Opera House and catch exciting games at nearby stadiums like Ford Field and Little Caesars Arena. Southfield's culinary scene is equally impressive, offering a wide range of dining options from local favorites to international delicacies. Lawrence Technological University adds to the city's appeal by fostering a vibrant learning environment. Additionally, Southfield's central location provides easy access to Detroit's iconic attractions such as the Detroit Institute of Arts, Detroit Historical Museum, and Detroit Science Center. The proximity to Detroit Metro Airport further enhances Southfield's convenience for travelers, making the Holiday Inn Express & Suites an ideal choice for accommodations while exploring the dynamic Detroit metropolitan area.

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Investment Highlights

Investment Highlights:

  • Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt.
  • Three-Story, 91-room, IHG-Branded, Interior-Corridor Hotel, 82 Suites, Renovated in 2019, Minimal PIP expected.
  • The Property achieved $2.8M+ in 2023 Room Revenue. NOI Margins of 30% aligned with Industry Standard Expenses
  • The Property consistently outperforms Comp Set: Occupancy 62.0 Percent, ADR $134.04, RevPAR $83.10, reflecting strong market positioning.

Area demand generators:

  • Major Employers & Demand Generators: Close to Southfield Town Center, Lawrence Technological University, Southfield Pavilion, Pearls Event Center, Evergreen Hills Golf Course, drawing business, leisure, and academic visitors.
  • Healthcare Proximity: Located 3 miles from Ascension Providence Hospital, serving medical guests and those visiting patients.
  • Cultural and Entertainment Hub: Near venues like Detroit Opera House, 16 Miles from Downtown Detroit, and 8 Miles from Detroit Zoo enriching guest experience and stay appeal.
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25100 Northwestern HwySouthfield, MI 48075
Southfield Town Center
Southfield Pavilion
Pearls Event Center
Lawrence Technological University
Under 8 Miles from Detroit Zoo
16 Miles from Downtown Detroit
3 Miles from Asension Providence Hospital
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Listing provided by Revere CRE