7220 Woodland DrIndianapolis, IN 46278

Property Details for 7220 Woodland Dr

Year built

1989

Construction

TYPE NOT SPECIFIED

Lot size

2.33 AC

Property size (Sq ft)

31,166 SF

Zone code

ZO01

Property type

Hospitality properties

Property subtype

Hotels

APN

49-04-26-120-006.000-600

APU

490426120006000600

Description

This four-story, 121-key Best Western Plus hotel in Indianapolis, Indiana, presents a compelling investment opportunity. Built in 1990, the property boasts a prime location ten miles northwest of downtown, directly off I-465 near the I-65 interchange, placing it within easy reach of major attractions like Lucas Oil Stadium and the Indianapolis Motor Speedway. The hotel benefits from established, attractive revenues and cash flow, projected to reach $2,700,000 in 2024, representing a year-to-date increase of $300,000. Currently under absentee ownership, the property offers significant upside potential for an owner-operator. Minimal capital expenditures are anticipated upon transfer, and the property is likely eligible for an automatic transfer for existing Best Western members. The asking price is $8,999,999. This presents a rare chance to acquire a renovated hotel in a desirable market with strong revenue streams and substantial growth opportunities. The property is located at 7220 Woodland Dr, Indianapolis, IN 46278. The hotel's 121 rooms are housed within a single building.

• CAP approach

  CAP return

  Valuation

  6%

  $4,596,320

  6.5%

  $4,242,756

  7%

  $3,939,702

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,887,482

  Geo Method

  $6,887,482

• Alternative Use

  Use

  Valuation

  Residential

  $4,631,857

  Hospitality

  $4,242,756

  Educational

  $3,529,924

  Medical

  $3,651,323

  Retail

  $5,490,992

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8834

Longitude

-86.2671

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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