For Sale
Call for price

31500 Wick RdRomulus, MI 48174

271-Room Marriott Hotel, Excellent Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple interest in a 271-key Delta Hotels by Marriott, situated directly adjacent to the Detroit Metropolitan Wayne County Airport (DTW). Boasting 260,885 square feet across a four-story building on a substantial 9.17-acre lot, this property offers significant upside potential. Built in 1980 and extensively renovated between 2014 and 2018, the hotel features modern amenities including a conference center and café, complemented by a complimentary airport shuttle. The property includes 334 parking spaces and is zoned RC-Regional Center. The hotel benefits from attractive assumable financing at a 4.9% interest rate with six years remaining on the term. With a trailing twelve-month revenue of $6.2 million, the property's performance provides a strong foundation for future growth. Its prime location within the DTW corridor ensures convenient access to the airport's substantial passenger traffic (nearly 31 million annually) and numerous daily flights (800+). Furthermore, its proximity to major corporations, including prominent automotive manufacturers, presents additional revenue opportunities. This sale offers a unique chance to acquire an upscale Marriott hotel in a top Midwest MSA at a significant discount to replacement cost. The property is offered unencumbered by management agreements and existing debt.

Highlights

  • Fee simple ownership of a 271-key Delta Hotels by Marriott.
  • $6.2M trailing twelve-month revenue.
  • Average Daily Rate (ADR) of $108 with 49% occupancy (market ADR $121, 65% occupancy).
  • Unencumbered by management agreements and existing debt.
  • Significant discount to replacement cost for an upscale Marriott hotel in a top Midwest MSA.
  • Prime DTW airport location, accessible to 31 million annual passengers and 800+ daily flights.

Property Details for 31500 Wick Rd

Property type
Hospitality properties, Hotels
Square Feet
260,885 SF
Year Built/Renovated
1980/2014
Buildings
1
Stories
4
Lot Size (sq. ft)
399,445 SF

Location Insight

City
Romulus
County
Wayne
State
Michigan
Latitude
42.23916712
Longitude
-83.34770932
31500 Wick Rd, Romulus, Michigan

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31500 Wick Rd
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