48881 Alpha DrWixom, MI 48393

Property Details for 48881 Alpha Dr

Year built

2018

Lot size

2.19 AC

Property size (Sq ft)

28,828 SF

Zone code

IRO

Property type

Hotels

APN

96-22-08-327-006

APU

962208327006

Description

This exceptional 64-key My Place Hotel in Wixom, Michigan, presents a compelling investment opportunity. Located at 48881 Alpha Dr, Wixom, MI 48393, this three-story, 2019-built hotel sits on a 2.19-acre lot (APN: 22-08-327-006) and is zoned C. The property boasts a strong pro-forma NOI of $577,603 and an 8.89% pro-forma cap rate, based on an asking price of $6,500,000. Conservative projections indicate a stabilized Gross Room Revenue (GRR) of $1,420,972 and a Stabilized Net Operating Income (NOI) of $577,603, assuming a RevPAR index of 91%. Currently, the RevPAR index stands at 76.8%, suggesting significant upside potential. The hotel benefits from its strategic location along Interstate 96, a major Michigan artery, and proximity to substantial demand generators, including General Motors, Ford Motor Company, Pepsico, Honeywell, and US Foods. These large employers contribute to the area's robust Average Daily Rate (ADR). Significant operational inefficiencies present opportunities for enhanced performance and profitability under new ownership. This well-priced hotel offers a rare chance to acquire a property well below replacement cost in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,605,344

  6.5%

  $5,174,164

  7%

  $4,804,581

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,336,942

  Geo Method

  $6,336,942

• Alternative Use

  Use

  Valuation

  Residential

  $5,648,684

  Hospitality

  $5,174,164

  Educational

  $4,304,844

  Medical

  $4,452,894

  Retail

  $6,696,424

Location Insight

City

Wixom

County

Oakland

State

Michigan

Latitude

42.4997

Longitude

-83.5327

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].