- 116-Room, Interior Corridor, Economy Hotel Built in 1986
- Less than One Mile from General Mitchell International Airport
- Priced Significantly Below Replacement Cost at $47,371 per Key
- Located in an Opportunity Zone Within the Milwaukee MSA
- Well Positioned with Excellent Visibility from Highway 38
Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Super 8 Milwaukee Airport. The Wyndham-branded hotel is priced at $5,495,000 or $47,371 per room. An opportunistic property, constructed in 1986, is located along South Howell Avenue, less than one mile from General Mitchell International Airport.
This three-story, 116-room hotel presents a new investor the opportunity to acquire a value-add asset within the Milwaukee metropolitan statistical area (MSA). This well-maintained hospitality asset is being sold at a price below replacement cost. An investor, looking to act as an owner-operator, can continue to maximize profits through a reduction in management costs for the property. The hotel is equipped with a business center and guest laundry facility.
Furthermore, the hotel is perfectly positioned in an Opportunity Zone and can provide upside to a potential investor in a 1031 exchange. Opportunity Zones are a new community development program established by Congress to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to reinvest their unrealized capital gains into Opportunity Funds that are dedicated to investing in Opportunity Zones, designated by the chief executives of every U.S. state and territory.
The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.
The Super 8 Milwaukee Airport is a 116-room, three-story hotel that was built in 1986. The Wyndham Hotels & Resorts-branded economy property offers bus/truck parking and a business center. For guest accommodations, family/oversized rooms are available, flat-screen television, refrigerator, and microwave.
Milwaukee, Wisconsin is a city located in Milwaukee County in the eastern region of the state, 80 miles east of Madison and 90 miles north of Chicago. The Super 8 Milwaukee Airport is superbly positioned on at 5253 South Howell Avenue and near the Highway 38 and Highway 119 interchange. With the city's major employers and popular revenue generators are near the property, this hotel benefits from many key industries of the city which include healthcare and social assistance, manufacturing, and retail trade. Aurora St. Luke's Medical Center and Medical College of Wisconsin, two of the city's largest employers located approximately 4.9 and 14.6 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 workforce include Roundy's Supermarkets distribution warehouse (35.8 miles) and Quad/Graphics Incorporated (27.5 miles). Revenue generators in the area, like General Mitchell International Airport (0.7 miles) and Southridge Mall (5.9 miles) help bring additional revenue to the hotel through an increase in transient business. Extra demand drivers for the city include the Milwaukee County Zoo (13.5 miles) and the University of Wisconsin Milwaukee (11.5 miles).
Broker of Record
License: WI 56163-90