The Hotel Ojibway - Sault Ste. Marie

Michigan, United States

$10250000

Sale conditions: Market

Snapshot

Active

Ownership: Fee Interest
Type: Hotel
Sub Type: Full Service
Chain / Market Scale: Upper Midscale
Brand: Wyndham
Corridor: Interior
No. of Keys: 71
Site Size: 1.5 AC

The Hotel Ojibway is a historic hotel in Sault Ste. Marie overlooking the Soo Locks, and one block from the primary local hospital complex. This hotel's excellent location in the market, coupled with its recent renovations, attract a significant share of tourists, construction workers on the Locks, and health care-related travelers.

The revenue upside for this property is significant as the Soo Locks project is about to hit its third and largest phase – one that will see over $2 billion invested in the next seven-to-ten years. This construction will bring over one thousand contractors to the Soo from outside areas for this phase of the project. Ownership has already secured long-term leases for exclusive use of the property's meeting and event spaces.

Highlights:

General Property Information


Property Name:
Property Type: Hotel
Property Sub Type: Full Service
Chain / Market Scale: Upper Midscale
Brand: Wyndham
Corridor: Interior
Keys: 71
Building Status: Existing
No. of buildings: 1
Stories: 6
Building size(SF): 48596
Site size: 1.5 AC
Meeting Space: 2 Rooms
Parking Type: Surface
Parking Spaces: 81
Construction Type: Masonry
Year Build: 1927
Year Renovated: 2021
Room Inventory Description:

71 Guest Rooms:

26 - King
39 - Double-Double
06 - King Jacuzzi Suite w. Kitchenette

Common area amenities:

Business Center

High Speed Internet

Breakfast Area

Exercise Room

Indoor Pool

Leased Lounge

Lounge

Leased Restaurant

Restaurant

Source of Business:

Government

Group

Transient

Leisure

Commercial

Additional Links:

Location


Country: United States
State: Michigan
Postal Code:
APN/Parcel ID:
Location Type:
Location Overview:

Brokers

Edward P Walsh, CHB

President and Designated Broker
Alpine Realty Capital, LLC


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