Causeway Bay Hotel & Convention Center | Conversion Upside

Highlights:

• Dual-Use Redevelopment via S-C Zoning
• Direct I-96 Access to Downtown Lansing
• Year 1 Pro Forma Projects $690K NOI
• 26,000 SF of Meeting and Event Space
• Major Lansing Employers Within 10 Miles
• Lansing Anchors a 473K-Resident MSA

Description:

For more information visit: https://rimarketplace.com/auction/3378/hospitality/lansing/mi

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, Causeway Bay Hotel & Convention Center at 6820 S Cedar Street in Lansing, Michigan is a 300-room, five-story full-service hotel on ±11.52 acres. Built in 1985 and renovated in 2012, the property includes roughly 26,000 SF of meeting space, an indoor pool, restaurant/bar, and business center. The asset sits directly off I-96, which carries 46,458 vehicles per day, providing access to Downtown Lansing, Michigan State University, GM's Lansing Grand River Assembly, McLaren Greater Lansing Hospital, Hope Sports Complex, and Capital Region International Airport. S-C, Suburban Commercial zoning adds redevelopment optionality, including potential conversion to multifamily or commercial use. The Year 1 pro forma projects $2.46 million in room revenue and $689,877 in NOI at 30% occupancy, presenting significant RevPAR growth and repositioning upside through improved management and reservation strategy.