12426 Houck Ave Clear Spring, MD 21722-1709

Property Details for 12426 Houck Ave

Year built

2009

Lot size

2.32 lot acres

Property size

41,174 SF

Zone code

HI

Property type

Motels

APN

04-003527

APU

4003527

Description

This exceptional 79-key Holiday Inn Express & Suites hotel presents a compelling investment opportunity. Situated on a 2.32-acre lot in Clear Spring, Maryland, this three-story, interior-corridor property boasts 41,474 square feet and benefits from a prime location off Interstate 70 (40,552 vehicles per day) and Route 40 (3,751 vehicles per day). Built in 2009 and extensively renovated in 2018, the hotel offers a modern and well-maintained facility. The property is offered fee simple, unencumbered by debt or third-party management. A long-term relicense with IHG is anticipated upon completion of a modest change-of-ownership PIP. Recent performance data shows a RevPAR of $63.37 in the trailing twelve months ending February 2024, with a penetration index of 88.9% compared to the competitive set. This presents a significant opportunity for an owner-operator to implement aggressive sales and rate management strategies, potentially increasing RevPAR penetration to 100% or more through the completion of the change-of-ownership PIP and subsequent renovations. The property's strong location and brand affiliation, coupled with the potential for increased profitability, make this a highly attractive investment. The property is currently unpriced, and offers will be reviewed based on price and terms. Appointments for property tours are required.

Location Insight

City

Clear Spring

County

Washington

State

Maryland

Longitude

-77.9262

Latitude

39.655

CBSA code

25180

CBSA name

HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments