CBRE is the exclusive agent in connection with the solicitation of offers to acquire the fee-simple interest in the 92-room Avid Hotel located in Zeeland, Michigan. The Avid Hotel in Zeeland, Michigan is conveniently accessible via Interstate 196 West and 196 North, Exit 55 at Byron Road. The two-year old hotel is only 20 minutes away from the Western shores of Lake Michigan and 30 minutes from downtown Grand Rapids, MI as well as GFR International Airport. Just two-years old, the Avid Hotel offers Buyers an excellent opportunity to acquire a recently built hotel without construction risk, rising costs, and ramp-up period.
Investment Highlights
- New construction in 2021!
- 92 Rooms, 4 stories, limited-service
- Property performance continues to ramp-up:
- 36.7% Occ @ $129.12 ADR (T12 September)
- $47.39 RevPAR performing at 81.7% of Comp Set (T12 September)
- 2022 Year End Revenue $1.635M
- Excellent Location:
- Holland, MI (15 Minutes)
- Lake Michigan (20 Minutes)
- Downtown Grand Rapids (30 Minutes)
- GFR International Airport (30 Minutes)
- South Haven, MI (35 Minutes)
For inquiries visit here.