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16 Trinity Point Dr, Washington, PA, 15301

Springhill Suites Pittsburgh Washington
$5,500,000

Key Information

Cap Rate
7.8%
Units
86
Year Built
2000
Type
Hospitality
Occupancy
52%
NOI
$429,125

Highlights

  • RevPAR gap of $15.41 relative to the competitive set
  • Approximately $480,000 in potential revenue upside
  • ~ $180K–$300K NOI growth depending on execution
  • Over $3M in potential value creation at an 8.5% cap rate
  • Guestrooms and exterior improvements completed
  • Minimal disruption required to ongoing operations
  • Opportunity to remove underutilized pool
  • Potential to expand fitness center and/or breakfast area
  • Lower operating expenses and improved space utilization
  • Located within the Trinity Point commercial node
  • Hollywood Casino at The Meadows (±3 million visitors per year)
  • Tanger Outlets (±3.5 million visitors per year)
  • Washington County Fairgrounds (±300,000 visitors per year)
  • Approximately 25 minutes from Pittsburgh MSA
  • Benefits from corporate demand and compression nights
  • The property benefits from proximity to the Marcellus Shale (±6,500 employees | ±4.8 miles away), one of the largest natural gas formations in the United States, which supports consistent, project-based demand and strong midweek occupancy.
  • Proposed ±30,000 SF event center in planning phase
  • Located within the Trinity Point corridor
  • Approximately a 3-5 minute drive from the hotel

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # RB068831, RM423998 (PA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203