200-Room SpringHill Suites Near
652 US Highway 1 and 9 South, Newark, NJ 07114
Lender-owned SpringHill Suites near Newark Airport, value-add opportunity.
- Added:
- Nov 25, 2025
- Days on Market:
- 174
- Last Refresh:
- Apr 5 at 8:10 pm
Property Features for 652 US Highway 1 and 9 South
General Information
- Standard status
- Active
Listing agent Bennett Webster License #CT #RES.0812403 (312) 339-3698
Listing office (312) 339-3698
Listing date Nov 25, 2025
Source Alchemyrea
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 Bennett Webster
HighLights
- Offered at a substantial discount to replacement cost, unencumbered by debt and management.
- Strong inherent demand generators resulting in a trailing 36‑month average annual occupancy of 82%+.
- Available for relicensing under the existing SpringHill Suites by Marriott flag.
- Value‑add opportunity to enhance performance by transitioning the asset out of lender control and completing the PIP.
- Newark market tract trailing 12‑month RevPAR gains of 3.5% are significantly outpacing U.S. national averages.
- Optimal time to invest in Newark amidst unprecedented large‑scale development, including the $336MM New Jersey Performing Arts Center Mixed‑Use Development and the proposed $500MM Skyline Towers.
Overview
This is a fee simple interest in the lender-owned 200-room SpringHill Suites Newark Liberty International Airport in Newark, New Jersey. The property is offered unencumbered by debt and management, at a substantial discount to replacement cost. It is available for relicensing under the existing SpringHill Suites by Marriott flag via a new long-term franchise agreement. The property was transferred to special servicing in June 2020, with foreclosure completed in December 2022. This presents a value-add opportunity to enhance performance by transitioning the asset out of lender control and completing the Property Improvement Plan (PIP) to better position the property within the competitive set. The property benefits from strong inherent demand generators, resulting in a trailing 36-month average annual occupancy of over 82%. The Newark market tract has trailing 12-month Revenue Per Available Room (RevPAR) gains of 3.5%, outpacing U.S. national averages. Newark is experiencing large-scale development, including the $336 million New Jersey Performing Arts Center Mixed-Use Development and the proposed $500 million Skyline Towers at 520 Broad Street. Newark remains a focal point of the U.S. insurance and financial services industries, with more than 9 million square feet of Class A office space and a Fortune 500 presence, with 15 organizations maintaining a footprint in the market.
Location Intelligence
Current Use by Public Records
Hotels
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1849
- Latitude
- 40.703
Nearby Similar for Sale
FAQs
What type of property is this?
Hotel - Lender-owned SpringHill Suites near Newark Airport, value-add opportunity.
Where is this hotel located?
The property is located at 652 US Highway 1 and 9 South Newark, NJ.
What are key features of this property?
This property features: Offered at a substantial discount to replacement cost, unencumbered by debt and management.; Strong inherent demand generators resulting in a trailing 36‑month average annual occupancy of 82%+.; Available for relicensing under the existing SpringHill Suites by Marriott flag.
