Building Details

Year Built 1998

Year Renovated 2015

Listing Agency: Hotel Brokers Of America b***@bangrealty.com Show Phone

Listed By: Subhash Naik · License #CA 01717362

Source: Crexi

Added: Jan 8 Changed: Aug 8 Last Checked: Aug 8 at 10:23AM

Report an Issue

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.

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

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$463,356

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.63%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$9,267,120 $9.3M

Cap Rate 7%

$6,619,371 $6.6M

Cap Rate 9%

$5,148,400 $5.1M

Market Conditions

NOI Build-Up for 115,224 SF 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.

Gross rent

$1.15M $9.96/SF

− Vacancy

−$172.1K −$1.49/SF

EGI

$975.5K $8.47/SF

− OpEx

−$512.1K −$4.44/SF

NOI

$463.4K $4.02/SF

Area

Butler County, PA

Vacancy

15.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$9,267,120

Cap Rate 7%

$6,619,371

Cap Rate 9%

$5,148,400

Alternative Uses

Best Use

Hotel Hospitality

$6.62M

$5.79M – $7.72M (±1% cap)

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 (±1% cap)

NOI $2,054,453 @ 7.0% cap · market cap 20.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residence Inn Pittsburgh ... Hotel & Motel Tesla Supercharger Electric Vehicle Charging Station

Suggested Use

Top Pick Storage Facility (Bike/Boat/Book/etc) Store Auto Parts Store Grocery & Convenience Store Catering Service Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,169

Businesses Nearby

Explore this area Business Placement

Demographics for 16066, PA

32,922

Population

14,359

Households

2.3

Avg Household Size

39

Median Age

65%

College-Educated

98%

High-School Grad

22.4 sq mi

ZIP Area

1,470

Density / Sq Mi

$125,390

Median Household Income

$71,940

Median Earnings

$1,619

Median Rent

$395,900

Median Home Value

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this hotels located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

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 Township PA 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