31500 Wick Rd Romulus, MI 48174-1900
- Hotels
- 163,775 SF
- 9.16 lot acres
Current Use by Public Records
- Hotels
Property Details for 31500 Wick Rd
- Year built
- 1980
- Lot size
- 9.16 lot acres
- Property size
- 163,775 SF
- Zone code
- RC-REG
- Property type
- Hotels
- APN
- 80 040 99 0012 701
- APU
- 80040990012701
Description
This exceptional investment opportunity presents a fee-simple interest in a 271-key Delta Hotels by Marriott, situated directly adjacent to the Detroit Metropolitan Wayne County Airport (DTW). Boasting 260,885 square feet across a four-story building on a substantial 9.17-acre lot, this property offers significant upside potential. Built in 1980 and extensively renovated between 2014 and 2018, the hotel features modern amenities including a conference center and café, complemented by a complimentary airport shuttle. The property includes 334 parking spaces and is zoned RC-Regional Center. The hotel benefits from attractive assumable financing at a 4.9% interest rate with six years remaining on the term. With a trailing twelve-month revenue of $6.2 million, the property's performance provides a strong foundation for future growth. Its prime location within the DTW corridor ensures convenient access to the airport's substantial passenger traffic (nearly 31 million annually) and numerous daily flights (800+). Furthermore, its proximity to major corporations, including prominent automotive manufacturers, presents additional revenue opportunities. This sale offers a unique chance to acquire an upscale Marriott hotel in a top Midwest MSA at a significant discount to replacement cost. The property is offered unencumbered by management agreements and existing debt.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Romulus
- County
- Wayne
- State
- Michigan
- Longitude
- -83.3488
- Latitude
- 42.2391
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
