48881 Alpha Dr Wixom, MI 48393-3442
- Hotels
- 28,828 SF
- 2.19 lot acres
Current Use by Public Records
- My Place Hotel-Wixom, MI / Hotel / Convenience Store
Property Details for 48881 Alpha Dr
- Year built
- 2018
- Lot size
- 2.19 lot acres
- Property size
- 28,828 SF
- Zone code
- IRO
- Property type
- Hotels
- APN
- 96-22-08-327-006
- APU
- 962208327006
Description
This exceptional 64-key My Place Hotel in Wixom, Michigan, presents a compelling investment opportunity. Located at 48881 Alpha Dr, Wixom, MI 48393, this three-story, 2019-built hotel sits on a 2.19-acre lot (APN: 22-08-327-006) and is zoned C. The property boasts a strong pro-forma NOI of $577,603 and an 8.89% pro-forma cap rate, based on an asking price of $6,500,000. Conservative projections indicate a stabilized Gross Room Revenue (GRR) of $1,420,972 and a Stabilized Net Operating Income (NOI) of $577,603, assuming a RevPAR index of 91%. Currently, the RevPAR index stands at 76.8%, suggesting significant upside potential. The hotel benefits from its strategic location along Interstate 96, a major Michigan artery, and proximity to substantial demand generators, including General Motors, Ford Motor Company, Pepsico, Honeywell, and US Foods. These large employers contribute to the area's robust Average Daily Rate (ADR). Significant operational inefficiencies present opportunities for enhanced performance and profitability under new ownership. This well-priced hotel offers a rare chance to acquire a property well below replacement cost in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wixom
- County
- Oakland
- State
- Michigan
- Longitude
- -83.5327
- Latitude
- 42.4997
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
