929 Sheraton DrMars, PA 16046
- Hospitality properties
- 1.88 AC
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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