64-Room Property Near Indianapolis Airport with High Potential
We are pleased to announce the successful sale of a 64-room hotel located at 6023 Gateway Drive, Hendricks, Indiana. Built in 1998, this property represented a high-potential value-add opportunity for buyers seeking a strategic location near Indianapolis International Airport and the bustling Plainfield Industrial Park.
The hotel’s location made it a standout property for travelers, business visitors, and long-term workforce accommodations. Positioned among well-known nearby hotels including Wingate by Wyndham, Woodspring Suites, Springhill Suites by Marriott, and Clarion Pointe, this property offered a competitive edge through attractive pricing and strategic positioning. Its accessibility and proximity to the airport ensured steady traffic and consistent demand, making it an appealing acquisition for investors or operators looking to expand in a thriving hospitality market.
The property also presented a unique investment scenario. Buyers were able to capitalize on an established customer base, move quickly to maximize operational efficiency, and explore strategic upgrades to enhance profitability. With its high visibility and functional layout, the hotel was ideal for a buyer focused on value-add potential.
Prior to the sale, the property had a Demolition Order issued by the Plainfield Town Court (Cause No. 32I01-2209-OV-000021), which had been appealed by the sellers at Hendricks County Superior Court 4 (Cause No. 32D04-2212-PL-000155). Structural inspections, including a full Property Condition Assessment conducted by the town and a previous buyer, showed no need for demolition. A stay on the Demolition Order remained in place, and the sale successfully closed with a buyer willing to continue the appeal process.
The sale of this property demonstrates the continued strength of the Hendricks hospitality market. Investors and operators are increasingly seeking properties that combine location, demand, and value-add potential in one package. 6023 Gateway Drive exemplified these qualities, delivering an opportunity to generate returns through strategic management and rehabilitation.
Congratulations to both the buyer and seller on a smooth and successful closing. This transaction highlights the ongoing appeal of strategically located hospitality assets in Hendricks County, providing insight for future investors looking to capitalize on similar high-potential opportunities.
