- Three-Story, 78-Room, Upscale, Extended-Stay Hotel within Indianapolis Metropolitan Area
- Excellent Visibility and Accessibility from Interstate 69, the Busiest Highway by Traffic Counts in the Vicinity
- Surrounded By an Abundance of Nationally Acclaimed Retailers, Restaurants, and Entertainment Amenities, Presenting the Location as a Destination for Residents and Travelers
- Nearby Demand Drivers Include Indianapolis Metropolitan Airport, Nickel Plate District Amphitheater, Fishers Town Center, Conner Prairie, Ruoff Music Center, and More, All Within 10 Miles
- $70 Million Industrial Development Within 10 Miles of Subject Property Which Guarantees 200+ New Jobs
- Average RevPAR Penetration of 116 Percent Through the Last Four Years
Investment Overview
As the exclusive representative of the seller, Marcus & Millichap’s National Hospitality Division is pleased to present for sale to qualified investors the Residence Inn Indianapolis Fishers (‘Hotel’ or ‘Property’). The Marriott International-branded Hotel is offered at $9,000,000 or $115,385 per key.
The Residence Inn is a 78-room, three-story, upscale, extended-stay Hotel located at 9765 Crosspoint Boulevard. Crosspoint Boulevard offers direct access to Interstate 69, the busiest road by daily traffic counts, which connects Fishers to downtown Indianapolis. The Property sits on a 2.25-acre lot and maintains 300 square feet of meeting/event space, an indoor pool and whirlpool, a fitness center, a business center, video games, barbecue and picnic area, basketball court, and on-site laundry facilities.
Fisher, Indiana is situated 16 miles northeast of downtown Indianapolis and 5 miles from the Interstate 465 Loop, which connects Chicago, IL, Louisville, KY, Columbus, OH, St. Louis, MO, Danville, IL, and Cincinnati, OH. The citi’s major industries include a mix of education, finance, health, retail, agriculture, and entertainment. The Indianapolis Metropolitan Airport (1.7 miles) and the larger Indianapolis International Airport (30.7 miles) attract potential customers to the region. Leisure demand generators include Nickel Plate District Amphitheater (2.7 miles), Fishers Town Center (2.5 miles), Conner Prairie (4.6 miles), Ruoff Music Center (9.8 miles), and Downtown Indianapolis (13.7 miles). Additionally, a $70 million development is coming to nearby Noblesville with plans to build three industrial buildings, encompassing 615,000 square feet of rentable space. The development guarantees a minimum of 200 jobs created from the new space.
The all-suites Hotel recorded over $1.74 million of room revenue in 2021. In the same period, net operating income reached nearly $550 thousand, or 30.8 percent of total income, after a 4 percent capital replacement reserve and 3 percent management fee. The Hotel’s 2021 RevPAR was recorded at $61.25, which represents a 14 percent premium to the STR-defined market competitive set. As the market occupancy continues to pick up, a new investor can expect a higher rate of return as the subject Property increases RevPAR and net operating income flow-through.
Broker of Record
Josh Caruana
License: IN RB14034355
