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34911 Van Dyke Ave

Sterling Heights, MI
Zoning
Year Constructed
0
Year Renovated
0
Building Class

About 34911 Van Dyke Ave

ONLINE AUCTION :: October 24

Best Western Plus Sterling Inn 246-Room, Full-Service Hotel on ±13.86 Acres Features a ±32,000 SF Indoor Water Park

OPENING BID :: $2,000,000 or $8,130 per key Initial Deposit Required to Bid :: $150,000

:: INVESTMENT SUMMARY

On Friday, October 24, CBRE Auction Services is pleased to present for auction the 246-room Best Western Plus Sterling Inn located in Sterling Heights, Michigan. Ideally located in north suburban Detroit, the state’s largest metropolitan area, Sterling Heights represents one of the fastest-growing communities in Michigan, home to several major corporate demand generators, many of which are centered around the once again thriving auto industry, including Chrysler, General Dynamics and British Aerospace Engineering, among others. Commanding just under 14 acres and the largest ballroom in Macomb County and 6th largest in the metro area, the property benefits greatly from its location along Van Dyke Ave. (Highway 53) and is within five miles of three major freeways including Interstates, 75, 94 and 696. Together these highways provide direct access to downtown Detroit, Canada, and the western suburbs, making the hotel a convenient choice for both corporate, group and leisure travelers.

  • $7.5MM annual Revenue
  • Possible rebranding or multiple re-development opportunities
  • ±32,000 SF indoor waterpark generating strong weekend leisure demand
  • Significant group demand accommodated with ±15,000 SF ballroom; 100 weddings annually at its peak
  • Other demand generators include nearby Chrysler, Ford, General Dynamics, and federal government
  • Number of units: 246

Internet Providers for 34911 Van Dyke Ave

Provider Technology Max Download Speed Max Upload Speed
Comcast Cable
1 Gb/s
25 Mb/s
WOW! Internet, Cable and Phone Cable
100 Mb/s
6 Mb/s
AT&T Michigan DSL
25 Mb/s
3 Mb/s
Iserv DSL
10 Mb/s
768 kbps
MegaPath Corporation DSL
10 Mb/s
1.5 Mb/s
Cavalier Telephone DSL
10 Mb/s
1.5 Mb/s

The City: Sterling Heights

The typical asking rate per listing is in the $10's per square foot per year. The Sterling Heights submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 11% decline in rent.

Compared to the rest of the Metro Detroit market, the Sterling Heights submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.

Median Rate Median Size
Sterling Heights $18
/sqft/yr
2,530
sqft
Median Rate Median Size
Metro Detroit $21
/sqft/yr
2,528
sqft

Median Rate over Time in Sterling Heights