Residence Inn Extended-Stay
1308 Freedom Rd Cranberry Twp, PA 16066
1308 Freedom Rd, Cranberry Twp, PA, 16066
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For Sale
Contact for pricing
96-key, all-suite extended-stay Residence Inn with Marriott brand requirements and an in-progress PIP.
Property Size115,224 SF
Price / SF$86.79
Days on Market195
Property Features for 1308 Freedom Rd
General Information
- Standard status
- Active
- Size
- 115,224 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1998
Listing agency
Hotel Brokers Of America
(888) 737-2264
Listed by
Subhash Naik · License #CA 01717362
Source
Crexi
Added: Jan 8 Updated: Jul 22 at 5:48PM Checked: Jul 22 at 5:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hotel Brokers Of America
Investment Insights
Based on property information with market context.
Residence Inn by Marriott Pittsburgh / Cranberry Township is a 96-key extended-stay, all-suite hotel operated under the Marriott Residence Inn brand. The property is positioned with a brand-required PIP that is scheduled to be completed by the new owner.
The hotel is located at 1308 Freedom Rd in Cranberry Township, along the I-79 Corporate Corridor with direct access to major employment hubs.
According to the offering remarks, the hotel is currently performing 5 of 7 within its competitive set. The remarks also indicate underperformance in ADR by approximately $9, primarily attributed to the required PIP. Multiple financing options are noted, including conventional and SBA programs, with assistance available for introductions to qualified hospitality lenders.
The hotel is located at 1308 Freedom Rd in Cranberry Township, along the I-79 Corporate Corridor with direct access to major employment hubs.
According to the offering remarks, the hotel is currently performing 5 of 7 within its competitive set. The remarks also indicate underperformance in ADR by approximately $9, primarily attributed to the required PIP. Multiple financing options are noted, including conventional and SBA programs, with assistance available for introductions to qualified hospitality lenders.
Key Highlights
- 1998‑built Residence Inn by Marriott with 96 keys (all‑suite, extended‑stay model)
- Marriott Residence Inn positioned along the I‑79 Corporate Corridor with direct access to major employment hubs
- In‑progress PIP (brand‑required property improvement plan) provides a path to increased ADR and profitability
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.15M | $9.96 |
| − Vacancy | −$172.1k | −$1.49 |
| EGI | $975.5k | $8.47 |
| − OpEx | −$512.1k | −$4.44 |
| NOI | $463.4k | $4.02 |
115,224 SF · lease $9.96/SF/yr · vacancy 15.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$6.62M
$5.79M – $7.72M
NOI $463,356 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.35M
$25.68M – $34.24M
NOI $2,054,453 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residence Inn Pittsburgh ...
Hotel & Motel
Tesla Supercharger
Electric Vehicle Charging Station
FAQs
What type of property is this?
Hotel - 96-key, all-suite extended-stay Residence Inn with Marriott brand requirements and an in-progress PIP.
Where is this hotel located?
The property is located at 1308 Freedom Rd Cranberry Twp, PA.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 1998‑built Residence Inn by Marriott with 96 keys (all‑suite, extended‑stay model); Marriott Residence Inn positioned along the I‑79 Corporate Corridor with direct access to major employment hubs; In‑progress PIP (brand‑required property improvement plan) provides a path to increased ADR and profitability
