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.

Key Facts

Value-Add Opportunity: Ability to Increase Weekly Rates 25% to 50% Comparable to Nearby Extended Stay Hotels and/or Incorporate Shorter Term Stays to Increase Nightly Rate

Well Located: Situated on "Main Street" in Royersford Borough in Highly Sought-After Montgomery County Pennsylvania

Future Redevelopment Opportunity: Possible to Convert Hotel Rooms to Apartment Units
Strong Rental Market: Market Occupancy Average 95% or Better

Walkability: Walking Distance to Cafes, Shops and Restaurants along "Main Street"

Team

Brian Gola

Associate
GREA
484-881-1783
215-454-2852

Luke DeLuca

Director
GREA
215-989-4440
646-712-7360

Corey Lonberger

Founding Partner
GREA
215-454-2878
267-760-3726

Ken Wellar

Founding Partner
GREA
215-454-2879
610-745-4800

Douglas Emrich

Associate Director
GREA
215-454-2889
610-733-8482

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