929 Sheraton DrMars, PA 16046

  • Hospitality properties
  • 1.88 AC
For Sale
$2,800,000 View listing

Property Details for 929 Sheraton Dr

Lot size
1.88 AC
Property type
Hospitality properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
929 Sheraton Dr, Mars, Pennsylvania

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$59,555
$658,000
$1,642,300
$2,300,300
-
$658,000
$1,642,300
$2,300,300

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