- 58-Room, Three-Story, Limited-Service, Upper-Midscale Hotel Built in 1998
- Well Positioned with Excellent Visibility from Highway 40
- Less than One Miles from Paradise Pavilion Shopping Center
- Priced Significantly Below Replacement Cost at $77,500 per Key
- Hotel RevPAR Penetration of 108 Percent Compared to the Market Competitive Set
Investment Overview:
Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Country Inn & Suites by Radisson located in West Bend, Wisconsin. Priced at $4,495,000 or $77,500 price per room, this established property is ideally located along the Highway 45 corridor and provides great visibility for transient business. This 58-room, three-story hotel was originally built in 1998 and features a swimming pool and a fitness center. This hotel presents a new owner the opportunity to acquire a well-maintained hospitality asset at a price below replacement cost.
Operationally, this hotel is bringing in upwards of $1.3 million in room revenue while effectively operating with a net operating income of approximately 33.9 percent of overall revenues. The subject property’s above-market occupancy has allowed the hotel to experience higher than average returns and become one of the leading properties in the market.
The expenses include provisions for a three percent management fee and four percent reserves for capital replacement. The hotel is offered fee simple, unencumbered by management and debt.
Property Overview:
The Country Inn & Suites West Bend is a 58-room, three-story, interior corridor hotel built in 1998. Well-equipped with numerous common area and guest room amenities, this limited-service upper midscale hotel offers spacious guest rooms that come furnished with a microwave, refrigerator, work desk with ergonomic chair, and a flatscreen television with DVD player and premium channels. Some splendid common area amenities the hotel has to offer consist of an indoor pool and spa tub, business center, dry cleaning, library, and outdoor picnic area.
Location Overview:
West Bend, Wisconsin is a city located in Washington County in the southeast region of the state, 40 miles north of Milwaukee and 55 miles south of Oshkosh. The Country Inn & Suites West Bend is superbly positioned on Gateway Court, near US Highway 45 and West Paradise Drive. With the city’s major employers and popular revenue generators in close proximity to the property, this sought after hotel benefits from many key industries of the town which include manufacturing, healthcare and social assistance, and retail trade. MGS Manufacturing Group and Quad/Graphics Incorporated, two of the city’s largest employers located approximately 12.9 and 17.7 miles from the hotel respectively, are prime revenue drivers for the surrounding area. Other major employers that are responsible for a significant portion of the work force include Aurora Medical Center (0.1 miles), West Bend Mutual Insurance (1.6 miles), Serigraph Incorporated (3.4 miles), and Signicast (18.5 miles). Revenue generators in the area, like Paradise Pavilion (0.5 miles) and Museum of Wisconsin Art (2.5 miles) help bring additional revenue to the hotel through an increase in transient business. Extra demand drivers for the city include West Bend Labyrinth Garden (2.8 miles) and Royal Oaks Park (4.8 miles).
Broker of Record
Todd Lindblom
License: WI 56163-90
