6511 Centurion Dr Lansing, MI 48917-9275
- Motels
- 52,603 SF
- 2.05 lot acres
Current Use by Public Records
- Hotel / Hotel
- Country Inn & Suites by Radisson, Lansing, MI / Hotel
Property Details for 6511 Centurion Dr
- Year built
- 2001
- Lot size
- 2.05 lot acres
- Property size
- 52,603 SF
- Zone code
- NONE
- Property type
- Motels
- APN
- 040 022 200 084 00
- APU
- 4002220008400
Description
This fee-simple, 87-key Country Inn & Suites by Radisson is offered at $5,500,000 ($63,218 per key). Built in 2001 and renovated in 2007, this three-story hotel sits on a 2.05-acre lot at 6511 Centurion Dr, Lansing, MI 48917. Conveniently located near US-496, the property boasts ample amenities including meeting/event space, a heated indoor pool, fitness center, business center, breakfast area, and bus parking. The Lansing-East Lansing Metropolitan Statistical Area (MSA) provides a strong foundation for occupancy, with a population exceeding 541,000. Major employers such as Michigan State University, General Motors, and state government offices are within close proximity, ensuring consistent business travel. The area also benefits from a robust healthcare system, including Sparrow and McLaren hospitals, and numerous educational institutions, including Michigan State University and Lansing Community College. Additional demand generators include Amazon, Meijer, and Capital Region International Airport. Popular attractions such as Jackson Field, Potter Park Zoo, and various golf courses and parks further enhance the area's appeal. The hotel's location near these diverse demand generators, coupled with a recent 9% increase in room revenue (year-end 2023 to September 2024), presents a compelling investment opportunity with significant upside potential. The current RevPAR index of 90% indicates room for improvement, with potential to reach 95-97%, driving room revenues to approximately $1.78-2.05 million. This property offers investors the chance to capitalize on a thriving market with strong revenue growth and operational benefits. The permitted zoning is O.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,525,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,130,000
- 6.5%
- $3,480,000
- 7%
- $3,365,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,375,000
- Geo Method
- $3,335,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,575,000
- Retail
- $3,555,000
- Mixed-Use
- $3,645,000
- Hospitality
- $3,095,000
- Educational
- $3,570,000
- Residential Income
- $3,310,000
- Energy
- $3,680,000
- Income-Based Land
- $3,205,000
- Food Service
- $3,850,000
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Eaton
- State
- Michigan
- Longitude
- -84.6434
- Latitude
- 42.7231
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
