For Sale
$2,100,000

495 Eisenhower BlvdHarrisburg, PA 17111

30-key hotel near Hershey Park

Overview

Added:
Dec 11, 2024
Days on market:
114
This 30-key Econo Lodge hotel, located at 495 Eisenhower Blvd, Harrisburg, PA 17111, presents a compelling investment opportunity. Built in 1987 and renovated in 2021, this two-story, 16,200 square foot property sits on a 0.72-acre lot (APN: 63-027-273-000-0000) and is zoned C12. The hotel boasts a prime location, offering easy access to major interstates (76, 83, and 283), connecting it to Baltimore, Philadelphia, and Pittsburgh. Its proximity to Hershey Park (less than a 15-minute drive), a major tourist attraction drawing over 3 million visitors annually, ensures consistent demand. Furthermore, the hotel benefits from its close proximity to the Penn State Health Milton S. Hershey Medical Center, Harrisburg International Airport (4 miles), and the city's numerous attractions, including the Pennsylvania State Capital and the National Civil War Museum. The hotel's strong performance, coupled with its lean operating model, positions it for exceptional cash flow generation. The asking price is $2,100,000 ($129.63/sq ft). This fee-simple, non-union, and unencumbered property offers a significant discount to replacement cost. The hotel's location near downtown Harrisburg and other key demand generators makes it an attractive investment.

Highlights

  • Fee simple, non-union, unencumbered 30-key Econo Lodge.
  • Offered significantly below replacement cost.
  • Strong performance; RevPAR index exceeding 120.
  • Lean operating model; exceptional cash flow potential.
  • Excellent location near Interstates 283 and 83, close to major demand generators.
  • Convenient to downtown Harrisburg, Pennsylvania's capital.

Property Details for 495 Eisenhower Blvd

Property type
Hospitality properties, Hotels
Square Feet
16,200 SF
Year Built/Renovated
1987/2021
Buildings
1
Stories
2
Lot Size (sq. ft)
31,363 SF

Location Insight

City
Harrisburg
County
Dauphin
State
Pennsylvania
Latitude
40.2484948
Longitude
-76.8135229
495 Eisenhower Blvd, Harrisburg, Pennsylvania

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495 Eisenhower Blvd
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