1016 North Martin Luther King Highway

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Address: 1016 North Martin Luther King Highway, Lake Charles, Louisiana, US
Created date: May 15, 2024
Date last updated: May 15, 2024
  • 70 All Suites Hotel built in 2008 and renovated in 2021 & 2023.

Property Description

Bharat Patel-Vakil of NewGen Advisory is proud to present for sale the Comfort Suites Lake Charles , Louisiana. This 70 suites property was built in 2008 with partial renovations in 2021 & 2023 and represents an excellent opportunity for a qualified hotelier to manage high cash flowing asset with strong brand affiliation. A new owner should benefit from expecting a very little PIP from Choice Hotels. Acquisition today at below replacement cost, should provide the buyer with significant upside potential and value-added opportunity. The hotel caters to interstate traffic, as well as many demand generators, such as the Lake Charles Civic Center, Millennium Park, Mardi Gras Museum, North Beach, L'Auberge DuLac Casino and Delta Downs Racetrack & Casino. The hotel is situated in one of the highest producing gas and oil areas in the nation. Lake Charles has some of the largest events and festivals in the state, such as Contraband Days, Mardi Gras, CultureFest, Black Heritage Festival, Live @ the Lakefront Music Festival, Rouge et Blanc, Downtown at Sundown Concert Series, Arts & Crabs Fest, and many more. Broker of Record: Charles Loesher-Commercial Real Estate Service LLC-Louisiana

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Property Types: Hospitality
Price: $5,500,000
No. of Units: 70
Year Built: 2008
Lot Size: 1.83 Sq ft
Opportunity Zone: No
Price per unit: $78,571
Property Website Click Here
Address: 1016 North Martin Luther King Highway, Lake Charles, LA 70601, USA
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