Thursday, April 5, 2012
Tuesday, May 5, 2009
Merritt Hotel For Sale
The Merritt Hotel Development
2332 Harrison Ave
Oakland, CA 94612
Contact:
510.677.7688
email:
Century 21 "Top Producer"
The property formerly known as the 156 room Lake Merritt Lodge is now the fully converted 103 room Merritt commercial hotel, offering banquet hall, dining service, commercial kitchen, conference room and other amenities.
The future value of the property is estimated to be $18 million.
We estimate the average room rent value per night to be $119.00.
This conservative calculation is based on 65% occupancy.
The hotel is estimated to generate $250,000 per month.
Additional income from halls, offices, and banquets is estimated at $45,000 per month.
VICINITY
- Christ The Light Cathedral
- Whole Foods Market
- Kaiser Permanente Building
- AT&T Building
- Fairyland
- Veterans Building
- Paramount Theater
- Grand Lake Theater
- Shops, restaurants, and other services
ASKING PRICE
8.7 million
LOCATION
- Oakland's historic Lake Merritt
- 10 minutes from Oakland Airport
- 25 minutes from SFO
- 15 minutes from Downtown San Francisco
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