133 Room hotel in the heart of downtown Erie totaling 57,704 SF for sale. Situated on 2.93 acres along 3 main traffic corridors with 2 signalized intersections. Features breakfast area, fitness center, heated outdoor pool, lobby & 100 on-site parking spaces. 8,100 SF bar/restaurant available for reopening. High traffic area. NOI: $70,616. Tax incentives available including LERTA & Federal Opportunity Zone. Flyer & Non-Disclosure Agreement attached. Contact broker for tour & additional info.
The approximate monthly Principal & Interest payment for this property would be $8,705. This payment is based on a 30-year loan at a fixed rate of 3.49 % with a down payment of $150,000. Actual lender interest rates and loan programs may vary.
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