$5000000

Ramada Hotel & Conference Center
  • Units: 244
  • Cap Rate: 8.35 Percent
  • Price Paying: 54.14 sqft
  • Price Per Unit: $20,492
  • Property Type: Commercial
  • Gross Rent Multiplier: 2.24
  • Year Built: 1976
  • Monthly Income Per Unit: $762.24
  • Expense to Income Ratio: 81.28 Percent
  • Average Square Feet: 379
  • Debt Service Coverage: 1.9
  • Cash Flow: 197,588
  • ROI Year One: 13.17
  • Listing Agent: Bruce Lister
  • Property Features: The Ramada Hotel and Conference Centers is located on W. Saginaw Highway close to the intersection of N. Canal Road & W. Saginaw Highway. As a result of this exceptional location guests have quick access to W Saginaw Road, which runs east-west bisecting Lansing and quick access to I-96 which loops around Lansing. These roads provide easy access to: dining, shopping and entertainment options surrounding the community. It is also a quick 10 minute drive to downtown Lansing. This property was built in 1976 and consist of 244 rooms and 10 conference centers. The property contains a very attractive room mix of: 146 (372 Sq Ft) Double Queen Rooms, 49 (372 Sq Ft) King Rooms, 4 (745 Sq Ft) Suites, 4 (372 Sq Ft) Handicap Rooms and 41 (372 Sq Ft) Down Rooms for a total of 244 rooms. When it is time for quests to relax the property is equipped with a fitness room, a pool and Jacuzzi. If quests would like to get something to eat, the property has an adjoining restaurant.
  • Interior Features: -
  • Exterior Features: -

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  • About Us

    Income Property Organization offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property.
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    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301