- For sale
UNDER CONTRACT: Opportunity to acquire the fee simple interest in two properties located adjacent to one another in Bloomington, Indiana. This portfolio consists of the 118 room Holiday Inn located at 1710 North Kinser Pike in Bloomington, Indiana and the 66 room Comfort Inn located at 1700 North Kinser Pike in Bloomington, Indiana.
Contact brokers to request the offering memorandum.
The buildings were once one property and was originally built in 1974 as a Ramada Inn Hotel. In the mid-1980’s the hotel was converted to a Holiday Inn and in the year 2000, took on the name of the University Plaza Hotel. In 2008 the entire hotel was remodeled and split into two separate hotels, and that’s where it remains today.
The two hotels are located within a half mile from Indiana University’s Memorial Stadium, the stadium home to the Indiana University football team. Indiana University (IU), founded in 1820, is the flagship campus of the Indiana University system and one of the Big Ten’s most prestigious schools. The Bloomington campus serves as the University’s main campus and sits on over 1,900 acres of land.
Indiana University catches the eye of many prospective students for its highly regarded reputation, according to Forbes, it is among the top 25 public colleges and universities in the US. Many visitors of the Holiday Inn and Comfort Inn are visiting the area for one of Indiana University’s athletic events. Annually, the IU athletic facilities bring in over 5 million visitors to the area and many choose these hotels for their stay due to their close proximity to campus and the athletic facilities.
Additionally, the hotels are a short distance away from the local Convention Center and major corporations such as; Cook Inc. MPRI, GE, Pfizer, Baxter, Pintpack, NSWC-Crane Division and a number of regional companies. The location of these properties in a growing college town are sure to catch the eye of many investors and developers looking for valuable real estate.