Listed by Matthews
$5,500,000
Springhill Suites Pittsburgh Washington
Details
Property Type Hospitality
Sub Type Hotel
Keys 86
Cap Rate 7.86%
NOI $432,125
Occupancy 52%
Brand/Tenant Marriott Hotels
Year Built 2000
Parking Spaces 75 spaces
Value-Add 86-Key SpringHill Suites with Major Upside in Pittsburgh MSA
Investment highlights
- RevPAR gap of $15.41 relative to the competitive set
- Approximately $480,000 in potential revenue upside
- ~ $180K–$300K NOI growth depending on execution
- Over $3M in potential value creation at an 8.5% cap rate
- Guestrooms and exterior improvements completed
- Minimal disruption required to ongoing operations
- Opportunity to remove underutilized pool
- Potential to expand fitness center and/or breakfast area
- Lower operating expenses and improved space utilization
- Located within the Trinity Point commercial node
- Hollywood Casino at The Meadows (±3 million visitors per year)
- Tanger Outlets (±3.5 million visitors per year)
- Washington County Fairgrounds (±300,000 visitors per year)
- Approximately 25 minutes from Pittsburgh MSA
- Benefits from corporate demand and compression nights
- The property benefits from proximity to the Marcellus Shale (±6,500 employees | ±4.8 miles away), one of the largest natural gas formations in the United States, which supports consistent, project-based demand and strong midweek occupancy.
- Proposed ±30,000 SF event center in planning phase
- Located within the Trinity Point corridor
- Approximately a 3-5 minute drive from the hotel
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$432,125.00
$36,010.42/mo
Valuation Metrics
0
DSCR
7.86%
Cap Rate
7.86%
ROI
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