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29292974
29292973

8040 Perry Hwy, Erie, PA 16509

TB
OH 2016002482
E-Merge Real Estate
AS
OH 2016004505, OH
e-Merge Real Estate
Listed by E-Merge Real Estate, e-Merge Real Estate
$3,000,000
142 days on market
Updated 36 days ago

Quality Inn Erie

Details
Property Type Retail, Hospitality
Sub Type Bar, Restaurant
Square Footage 66,112
Keys 110
Cap Rate 15.20%
Year Renovated 2023
Acreage 14.577
Zoning C- Hotels for versatile usage

Retail | 15.20% CAP | 66,112 SqFt

Marketing description

Please do not visit or contact the staff, management or ownership of the property directly. Kindly conduct all inquiries through our office. Thank you in advance for your understanding and cooperation!! Presenting the exceptional investment opportunity, the quality inn & suites conference center. This property, boasting 110 units within a 66,112 sf building, is not just another investment option. It's a gateway to a profitable venture. With a thriving bar & grill, a spacious banquet hall, a well-stocked bar, and a restaurant, this property has extensive revenue potential. This can be a standalone investment or a package that could include: - super 8, adjacent to quality inn - quality inn, includes a banquet hall, bar, and restaurant) - land, 6 acres behind the super 8, is an ideal canvas for future development, including the potential for a water park or other lucrative ventures. Explore the endless opportunities and secure your investment in this thriving hospitality market.

Located off of busy I-90 just across from the Presque isle downs & casino in beautiful Erie pa. Erie, Pennsylvania, is a city located in the northwestern part of the state, along the southern shore of lake Erie. It is the fourth-largest city in Pennsylvania and has a rich history and a diverse range of attractions and activities. Lake Erie: Erie is known for its stunning waterfront along lake Erie, one of the great lakes. Presque isle state park, a peninsula that extends into the lake, offers beautiful beaches, walking trails, and opportunities for boating, fishing, and bird-watching. It's a popular spot for outdoor enthusiasts. Manufacturing heritage: Erie has a strong manufacturing history, particularly in industries like locomotive manufacturing, paper production, and plastics. The city played a significant role in the industrial revolution, and remnants of this heritage can still be seen today. Downtown Erie: downtown Erie features a mix of historic and modern architecture. You'll find various shops, restaurants, and cultural attractions, including the Erie art museum and warner theatre, which hosts concerts and Broadway shows. Education: Erie is home to several colleges and universities, including Gannon university and Mercyhurst university, contributing to a vibrant academic community. Sports: Erie is home to the Erie Seawolves, a double-a minor league baseball team affiliated with the Detroit tigers. Sports enthusiasts can also enjoy hockey games with the Erie otters, a junior ice hockey team. Culture and entertainment: the city offers a range of cultural experiences, from art galleries and theaters to music festivals and community events. The Erie philharmonic and Erie playhouse are notable cultural institutions. Cuisine: Erie boasts a diverse culinary scene, with a focus on fresh seafood from lake Erie. You can find a wide variety of dining options, from casual eateries to upscale restaurants. Maritime history: the Erie maritime museum showcases the city's nautical history and is home to the U.S. Brig Niagara, a reconstructed historic warship. Festivals and events: Erie hosts numerous festivals throughout the year, celebrating everything from seafood and wine to music and the arts. Outdoor recreation: besides Presque isle state park, the surrounding region offers opportunities for hiking, camping, and exploring nature. The Allegheny national forest is not too far from Erie. Snowfall: Erie is known for its heavy snowfall during the winter months, thanks to its location in the snowbelt region off lake Erie. This makes it a destination for winter sports enthusiasts. Economic diversity: the local economy has diversified in recent years, with healthcare, education, and tourism playing increasingly important roles alongside traditional manufacturing industries. Overall, Erie, Pennsylvania, offers a mix of natural beauty, cultural attractions, and outdoor activities, making it a unique and vibrant city in the state of Pennsylvania.


Investment highlights

  • 66,112 SF building with 110 units
  • Renovated in 2023 for modern appeal
  • Zoned C- Hotels for versatile usage
  • Perfect for hospitality or full-service investment
  • Prime location in the thriving Erie area
  • Well-performing bar & grill included
  • Endless options for future development
  • Ideal for waterpark, MUH, or storage facility
  • Solid investment opportunity with great potential
  • Additional investment opportunity to purchase the 6-acre land for future development

Listing Contacts

TB
OH 2016002482
E-Merge Real Estate
AS
OH 2016004505, OH
e-Merge Real Estate
Listed by E-Merge Real Estate, e-Merge Real Estate

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Additional Information

Name
Niraj Parikh
License
RS376497
Brokerage
Real of Pennsylvania
Brokerage Phone
848.565.5006
Title
Broker of Record
Brokerage Address
500 Office Center Dr, Ste 400 Fort Washington, PA 19034
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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