929 Sheraton DrMars, PA 16046

Property Details for 929 Sheraton Dr

Lot size

1.88 AC

Property type

Motels

APN

2372-J-7

APU

2372J7

Description

This three-story, 67-key hotel in Mars, Pennsylvania, presents a compelling investment opportunity. Boasting 26,838 square feet on a 1.88-acre lot, the property enjoys excellent highway visibility and is conveniently located near the Cranberry Shopping Center, just 18 miles from Pittsburgh. Built in 1996 and extensively renovated in 2024, the hotel features attractive amenities including whirlpool suites and a two-room owner's living quarters. The property's prime location, coupled with its recent renovations and the potential for further enhancements, makes it an ideal acquisition for investors seeking a foothold in the thriving hospitality sector. The asking price is $2,800,000, translating to $104.33 per square foot. The single building sits on a sizable lot, offering ample space for potential expansion or future development. This turnkey operation is ready for a new owner to capitalize on its established presence and strong location. The hotel's proximity to Pittsburgh and its convenient access to major roadways ensure a steady stream of potential guests.

• CAP approach

  CAP return

  Valuation

  6%

  $17,689,668

  6.5%

  $16,328,924

  7%

  $15,162,572

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,001,638

  Geo Method

  $18,001,638

• Alternative Use

  Use

  Valuation

  Residential

  $17,826,442

  Hospitality

  $16,328,924

  Educational

  $13,585,473

  Medical

  $14,052,699

  Retail

  $21,132,958

Location Insight

City

Mars

County

Allegheny

State

Pennsylvania

Latitude

40.6712

Longitude

-80.0958

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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