52825 State Hwy South Bend, IN 46637
- Hospitality properties
- 1.82 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 52825 State Hwy
- Year built
- 2007
- Lot size
- 1.82 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 117-key, four-story extended-stay hotel, built in 2007, is situated on a 1.82-acre lot at 52825 State Hwy 933, South Bend, Indiana, 46637. The property boasts 111 parking spaces and is conveniently located off Interstate 90, experiencing over 27,000 vehicles in average daily traffic. Its strategic location is just 2.2 miles from the University of Notre Dame and within close proximity to other major employers including Beacon Health System and Honeywell Aerospace, as well as several educational institutions. The hotel features a fitness center, on-site guest laundry, and kitchenettes in each room, along with an outdoor patio and a heated indoor pool. The South Bend-Mishawaka Metropolitan Statistical Area offers excellent transportation infrastructure, with easy access to Chicago (95 miles) and major highways. South Bend International Airport is only 5.5 miles away, providing convenient access to major hubs. The property benefits from a strong local economy and numerous attractions, including University Park Mall, Heritage Square, the Century Center, and the Studebaker National Museum. A significant $350 million mixed-use development is planned for downtown South Bend, promising further economic growth and urban renewal. The hotel's financial performance shows a twelve-month occupancy rate of 70.5% (141% occupancy penetration index) and a three-year average occupancy rate of 68.8% (119% occupancy penetration index). Gross revenue reached $1.27 million, resulting in a net operating income (NOI) of $371,000, representing a 29.2% NOI margin (inclusive of a 4% replacement reserve). This fee-simple property presents a compelling investment opportunity for those seeking a well-positioned, high-performing hotel in a thriving market. The property is currently absentee-owned and managed by a third-party company. Permitted zoning is C.
Value Estimation
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Location Insight
- Map
- Local Demand
- City
- South Bend
- County
- St. Joseph
- State
- Indiana
- Longitude
- -86.2507
- Latitude
- 41.7258
