Hospitality Business for Sale in Milpitas, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Milpitas, CA 95035
  • Year built: 2022

Description

Marcus & Millichap has been chosen to exclusively market for sale the Springhill Suites in Milpitas, CA. Constructed in May of 2022, the property has 124 well appointed rooms. Onsite amenities include a heated outdoor pool & spa with lounge chairs, patio area with outdoor firepit, fitness center with modern equipment, complimentary continental breakfast, and a spacious, well-appointed lobby. Known to the world as Silicon Valley, the San Jose metro is located at the southern end of the San Francisco Bay and encompasses Santa Clara and San Benito counties. A large portion of the area’s 1,315 square miles is unincorporated ranch and farmland. The metro contains roughly 1.95 million inhabitants, and roughly half of the region’s residents reside in the city of San Jose. It is the metro’s largest city with 983,000 residents, followed by Sunnyvale and Santa Clara. Venture capital funds received in the 1990s helped turn the area into the world’s most prominent technology hub — a distinction that still stands to-day, despite recent volatility in the office sector. The San Jose metro has an enviable combination of major universities that produce a highly-educated workforce, cutting-edge tech firms and exceptional affluence. Residents can visit a plethora of museums, including the San Jose Museum of Art and the Tech Interactive. Santa Clara County is home to performing arts companies and hosts the San Jose Jazz Festival. The San Francisco 49ers play their home games at Levi’s Stadium, and the San Jose Sharks hockey team plays at the SAP Center. Other sports venues include Excite Ballpark and Stevens Stadium. Investment Highlights: • Turn Key Marriott Flag in Silicon Valley • 124 Well Appointed Rooms • Being offered well below replacement cost @ $275,000 per key

Market Context

This hospitality in Milpitas, CA is listed for sale. It is offered at an approximate 5.2% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 2022. It has been on the market for 52 days. Compare it against other hospitality listings for sale in Milpitas, CA — <a href="/search/sale/hospitality/california/milpitas">view the full market</a>.

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