3041 W 12TH ST Erie PA 16505-3856

TOURS June 9th, 10th, 11th | Please RSVP to Jerry Swoon at [email protected] or call 212.430.5219

For registration requirements and regulations, please review here or contact Audrey Hanna | 518-625-8581 | [email protected].

Property tours are available by appointment only. Please contact the listing broker to schedule a tour.

Marcus & Millichap is pleased to present the investment opportunity located at 3041 W 12th Street in Erie, Pennsylvania.​ The property, a former Hampton Inn, features a hotel asset offered well below replacement cost.​ This offering represents a rare chance for investors to acquire a hospitality property at a significant discount to today’s construction and development pricing, providing an immediate basis advantage and long-term value potential.​ A key highlight of this opportunity is that significant Property Improvement Plan (PIP) work has already been complented ($623,000), reducing near-term capital expenditure requirements and enabling a smoother transition for new ownership.​

Additionally, the asset offers compelling upside through improved rate management strategies and enhanced operational efficiencies, allowing investors to optimize revenue performance and increase net operating income.​ With a below-replacement-cost basis, completed capital improvements, and clear pathways to operational upside, this hotel investment provides a strong value-add opportunity.​ Investors can capitalize on both immediate cost advantages and long-term income growth, making this an attractive addition to a diversified hospitality or commercial real estate portfolio.​

• Non-Contingent
• Earnest Money Deposit is Greater of $20,000 or 10% of the Purchase Price
• Marketing Fee: 5% of the Winning Bid Amount, $20,000 minimum
• $10,000 Participation Deposit
• Close of Escrow: 9/1/2026

3041 W 12th St, Erie, PA 16505

PA Auctioneer: Tammy A. Miller, PA AU005891.

• Below Replacement Cost Acquisition with Immediate Basis Advantage
• Significant Property Improvement Plan (PIP) Work Already Completed
• Strong Value-Add Opportunity Through Operational and Rate Management Upside. Current RevPAR Index of 57%
• Attractive Hospitality Investment with Long-Term Income Growth Potential
• Absentee Ownership.