Comfort Suites Lake Charles
$5,250,000
1016 North Martin Luther King Highway, Lake Charles, LA 70601
41,400 sqft
Building Size
1.39 acres
Lot Area
Details:
Highlights:
- Price Reduced to $5,250,000 now!
- 70 units, interior corridor
- Priced below replacement cost of per Key $75,000
- Partial renovations completed in 2023 - minimal PIP to buyer
- Strategically situated in a key location for liquefied natural gas (LNG) plants
- Lake Charles has a large athletics draw and is known for its theatrical and cultural events and is one of the highest producing gas and oil areas in the nation
Description:
Bharat Patel-Vakil of NewGen Advisory is proud to present for sale the Comfort Suites in Lake Charles, Louisiana, one of the highest producing gas and oil areas in the nation. This 70 suites property was built in 2008 with partial renovations in 2021 & 2023 and represents an excellent opportunity for a qualified hotelier to manage high cash flowing asset with strong brand affiliation. A new owner should benefit from expecting a very little PIP from Choice Hotels. Offered at below replacement cost, the right buyer will have significant upside potential and value-added opportunity.
The hotel caters to interstate traffic, as well as many demand generators, such as the Lake Charles Event Center, Millennium Park, Mardi Gras Museum, North Beach, L'Auberge DuLac Casino and Delta Downs Racetrack & Casino. Lake Charles has some of the largest events and festivals in the state, such as Contraband Days, Mardi Gras, CultureFest, Black Heritage Festival, Live @ the Lakefront Music Festival, Rouge et Blanc, Downtown at Sundown Concert Series, Arts & Crabs Fest, and many more.
Located on Highway 171 in Lake Charles, Louisiana, Comfort Suites Lake Charles hotel offers easy access to casinos, corporate offices, golf courses, parks, lakes, restaurants and ballparks.
The Westlake/Lake Charles area has become a key location for LNG plants: Sempra Cameron LNG, Magnolia LNG, Cheniere Energy, Leucadia and G2x Energy. Additionally the Westlake/Lake Charles area is home to businesses such as Sasol Lake Charles Chemical Complex and Research and Development Laboratory, Phillip 66, Axiall.
Location
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