ROYERSFORD HOTEL, APARTMENTS & RESTAURANT
14 Rooms | 11 Apartments | +/-3,500 SF Restaurant
Overview
- Offering Price $3,200,000
- Hotel Rooms 14
- Pro Forma Cap Rate 8.66%
- Apartment Units 11
- Hotel (H) Liquor License
- Bar/Restaurant 1 (3,500 RSF)
On behalf of ownership, GREA extends to qualified investors the unique opportunity to acquire the fee simple interest in 211-215 Main Street, known as the Royersford Hotel, as well as the adjacent property situated 207-209 Main Street.
• 211-215 Main Street: The Royersford Hotel consists of (5) one-bedroom apartments, (1) studio, (12) hotel rooms, and a ±3,500 square foot restaurant/bar with a built-out kitchen, Hotel (H) Liquor License, and 22 off-street parking spaces.
• 207-209 Main Street: This is a 7-unit apartment building currently being run with the Hotel. This property consists of (3) one-bedroom apartments, (2) studios, (2) rooms, and a laundry room.
Current ownership runs both properties as a hotel with the owner paying all utilities. They have a one-week minimum stay with an estimated average of six-month stay. Some tenants have been there for 10+ years. Both properties operate with nearly no vacancy. Less than half a mile away from the subject property, the Spring City Hotel charges ±$250 per room per week (with communal bathrooms), and $350 to $375 for studio apartments. Spring City Hotel posts a ±95% occupancy rate with a two-week minimum stay at significantly higher rental rates proving the market rents can be increased significantly at The Royersford Hotel.
New ownership has numerous options available to rent the rooms/apartments to increase the income of this property — whether it be nightly, extended stay, or a hybrid model. In addition, they can operate the restaurant/bar or lease the space and hotel liquor license to a prospective tenant.
The properties are located on “Main Street”, Royersford’s highest-traveled road, with an array of restaurants and storefronts. In addition, the properties are situated down the road from The Riverfront at Royersford, the newest mixed-use development in Royersford, featuring 188 apartment units and 10+ retail stores making this one of the largest attractions in town.