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INVESTMENT ADVISORS
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KYLE STEVENSON Managing Director
703.888.6578
Kyle.Stevenson@Berkadia.com
License #BK3472655
LARISSA ISENBERG
Associate Director
803.403.6781
Larissa.Isenberg@Berkadia.com
License #SA00092444
HARRY MANCERA Associate Director
404.452.1110
Harry.Mancera@Berkadia.com
License #SL3531238 KEN ASTON Managing Director
314.984.5590
Ken.Aston@Berkadia.com
License #2013008591
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Executive Summary
Berkadia Hotels & Hospitality (“Berkadia”) is pleased to offer, on an exclusive basis, the opportunity to acquire fee simple interest in the Closed Red Roof Inn St Louis Florissant (the “Property”, “Red Roof Inn”, or “Hotel”), a 102-room hotel strategically located directly off Interstate 270 and only 5.4 miles from St Louis Lambert International Airport. The Property boasts an irreplaceable and highly accessible location in close proximity to many demand drivers.
The city of Florissant is in northern St Louis County, just northeast of the St Louis Lambert International Airport. Residents and visitors in this part of St Louis County have convenient access to all other parts of the metro area via Interstates 270, 70, and 170. Florissant is home to over 51,400 residents, making it the largest city in St Louis County and the 12th-largest city in Missouri. The more than 13-square-mile city encompasses about 1,140 businesses and over 57 retail centers. Florissant is also within 15 to 20 miles of major employment hubs in Clayton and Downtown St Louis.
The Property presents a unique value-add opportunity to renovate and open a hotel ordered by Florissant Valley Fire Protection District to close in March 2024. Furthermore, the Hotel is being offered unencumbered of brand, so a buyer will be able to choose their preferred flag.
Demand Driver
CLOSED RED ROOF INN ST LOUIS FLORISSANT
BANK OWNED, FORECLOSED HOTEL
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INVESTMENT HIGHLIGHTS
Value-Add Opportunity: The Hotel was closed in March 2024 by order of Florissant Valley Fire Protection District. In order to reopen the subject has to undergo a significant Property Improvement Plan (PIP), including a complete remodeling of guest rooms, lobby, exterior and site improvements upgrades.
Proven Historical Performance: The Red Roof Inn realized a $34 RevPAR and 97% RevPAR index TTM February 2024, a month before closing in March. In 2021, the Hotel was penetrating the market at 109%. After a renovation, a new owner will be able to push RevPAR back up beyond a 100% index.
St Louis Airport Hospitality Submarket: The submarket yielded a $77 RevPAR as of TTM September 2024. The submarket increased an impressive 12% since 2019 and exceeds the overall market’s RevPAR of $72.
Near Two Employment Hubs: The Hotel is 5.4 miles from the St Louis Lambert International Airport Area, covering 12 square miles with over 1,000 workplace establishments, including The Boeing Company, Amazon, Mallinckrodt Pharmaceuticals, and more. The Hotel is also 9.2 miles from the Earth City Employment Hub, which has over 800 workplace establishments, 3.3 million square feet of office space, and 24.4 million square feet of industrial space.
Offered Unencumbered of Franchise and Management: A new owner will be able to select a flag and management company of their choice.
Proximate to St Louis Lambert International Airport (STL): The Red Roof Inn sits 5.4 miles from the largest airport in Missouri. Over 14 million passengers travelled through STL in 2023. St Louis Lambert International Airport supports 7,200 jobs, 11 airlines, and has an annual economic impact of $27.5 billion.
2020 – redesigned into apartments
2 (one U-shaped school building and one townhome building)
two-story townhomes and 2.5-story school building (first floor partially below ground level)
limestone foundation, brick, stone accents, Tudor Revival elements (school building) and siding (townhomes)
Year school repurposed:
slate/ pitched roofs with shingles
Roof type:
# of total buildings:
# of stories/floors in each building:
Exterior building materials:
4.78 acres
Lot size:
9.83 units per acre
Density:
yes
Pets allowed:
102
1976
2
2
2.12 Acres
An office, maintenance room, and laundry room
March 2024; Please see the notice from the City of Florissant in the data room
Rooms:
Opened:
Number of Buildings:
Number of Stories:
Land Area:
Features:
Closed Date:
Property Description
LOCATION
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Distance From Hotel
Christian Hospital – Northwest Healthcare
University of Missouri – St Louis
Christian Hospital
Hazelwood Sports Complex
SSM Health DePaul Hospital – St Louis
Hollywood Casino St Louis
0.8 Mile
5.3 Miles
5.3 Miles
5.7 Miles
7.4 Miles
10.5 Miles
307 Dunn Road, Florissant, MO 63031
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