SpringHill Suites West Mifflin — Sale in Pittsburgh, PA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Pittsburgh, PA 15236
  • Year built: 2001

Photos

SpringHill Suites West Mifflin — Sale in Pittsburgh, PA, photo 1 of 2
SpringHill Suites West Mifflin — Sale in Pittsburgh, PA, photo 2 of 2

Investment Figures

Cap rate
9.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is proud to present the Recently Renovated Springhill Suites located in West Mifflin, Pennsylvania. The All-suites Block & Plank Construction hotel has 94 rooms and is being Offered at $10,750,000 or 3.4X RRM and will be delivered Fee Simple, unencumbered of 3rd Party Management and Debt. The hotel recently completed the 21-Year Marriott PIP with recent renovations exceeding three million dollars will receive a long term Marriott Relicense and Minimal PIP upon transfer. The Four-Story Springhill Suites constructed in 2001 is 3rd Party managed and owned by an Absentee out of state owner. The Hotel represents an excellent opportunity to acquire a Marriott Property significantly below replacement cost at $114,000 per Key in a high barrier to entry Pittsburgh market. The Springhill Suites West Mifflin is located off of State Route 51 on Regis Avenue and is only nine miles from Downtown’s Carnegie Science Center, Heinz Field, PNC Park, and Consol Energy center. It receives strong year round lodging demand due to diverse demand generators like Kennywood Amusement Park, Sandcastle Waterpark, University Of Pittsburgh, Corporate Jets, Pittsburgh Inst. of Aeronautics, Bombardier Corp, General Motors, Westinghouse and much more. Investment Highlights: • Over Three Million Dollars in Recent Renovations | 21-Year PIP Completed • Priced to Sell at 3.4 RRM • Four Story Block and Plank Construction • Nine Miles from Downtown Pittsburgh - High Barrier to Entry Location

Market Context

This hospitality in Pittsburgh, PA is listed for sale. It is offered at an approximate 9.0% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 2001. Compare it against other hospitality listings for sale in Pittsburgh, PA — view the full market.

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