Fairfield Inn Wallingford Meriden | Renovated 100 Miles Dr 116 Habitaciones de hotel Hotel y hospedaje Venta de subasta en línea Wallingford, CT 06492

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Fairfield Inn & Suites Wallingford New Haven is the ultimate investment in Connecticut. The 116-key hotel rings in at an impressive 68,114 total square feet spread across four stories. The interior-corridor hotel was originally constructed in 1985 and underwent major renovations in 2001 and 2024 to keep up with the high Marriott standard via their PIP. Sitting on 3.08 acres, the asset comes equipped with plentiful surface parking for guests and staff. There are many special on-site features, including a fitness center, business center, laundry, convenience store, free buffet, a grab-n-go, and hot breakfast for guests to enjoy during their stay. Additionally, digital check-ins are available, and guests have access to a mobile key. Fairfield Inn & Suites Wallingford New Haven is also equipped with free Wi-Fi and elevator access to all floors. Marriott is currently working on issuing a PIP that should be limited to the next renovation cycle in about seven to eight years. Marriott has also informed the owner they will offer a 13-year minimum license for the new owner.

The New Haven/Waterbury Hospitality Submarket is an excellent place for investors to enter. The submarket contains 97 hotel properties, which contain around 7,100 rooms. Approximately 130 rooms are under construction in New Haven/Waterbury, accounting for 1.9% of its existing inventory. Over the past 12 months, roughly 100 rooms have opened across one building.

New Haven is the second-largest metro in Connecticut, with roughly 870,000 residents. The city benefits from a diverse array of industry sectors, with its most prominent being the education and health services sector, accounting for around 30% of total employment. This segment boasts a robust network of healthcare providers like Yale New Haven Health System and higher-education institutions such as Yale University and Quinnipiac University. This symbiosis has led to New Haven becoming a biotechnology hub, boosting employment and demand for lab space in recent years. Additionally, the New Haven metro features strong employment in trade, transportation, and utilities, which accounts for roughly 19% of the workforce. While the metro itself hasn't grown much, increased distribution and warehousing needs and a well-positioned location along Interstate 95 between major markets like New York and Boston have spurred growth in this sector, doubling transportation and utilities employment since 2019.

Fairfield Inn & Suites Wallingford New Haven benefits from its advantageous location directly off Interstate 91 in Central Connecticut. Interstate 91 is highly trafficked seeing over 71,000 vehicles daily driving to New Haven, Hartford, Boston, New York, and beyond. There is a strong business and corporate presence with big names Bristol-Myers Squibb, Medtronic, and Amazon’s distribution center close by. Tourism is growing with Oakdale Theatre, wineries, golf courses, and historic sites attracting visitors. Additionally there is education and healthcare demand as Yale University, Quinnipiac University, and Wesleyan University are all nearby.

Discover Fairfield Inn & Suites Wallingford New Haven, a cash-flowing opportunity in Wallingford, Connecticut.

Property listed by John Krueger with Marcus & Millichap - Connecticut License #REB.0791913