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13200 International Airport Boulevard - Microtel Inn & Suites Jacksonville Airport, Jacksonville, FL
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13200 International Airport Boulevard - Microtel Inn & Suites Jacksonville Airport
Jacksonville, FL 32218-9439 - Northeast Jacksonville Submarket
Number of Rooms:
814.98 AC (35,500,734 SF)
For Sale Price:
Starting Bid $1,500,000
Participation Deposit: $10,000
Auction Starts: 11/01/2016
Auction Ends: 11/03/2016
***BIDDER DEPOSITS MUST BE PLACED ONLY BY WIRE TRANSFER OR CASHIERS CHECK. CREDIT CARDS WILL NOT BE ACCEPTED.***
Property Tour and Contact Detail Information:
Tours are available on the below dates. Please RSVP with BJ Patel at 770-552-2450 or by email at firstname.lastname@example.org.
Thursday, October 6th
Friday, October 7th
• The three-story, interior corridor, Hotel features 78 rooms, fitness center, business center, outdoor pool, and complimentary breakfast, internet, and complimentary shuttle service.
• Superb Location with high barriers-to-entry - Conveniently located on International Boulevard just off of Interstate 95 (Exit # 363). Additionally, the Hotel benefits from excellent signage at street-level on International Boulevard as well as Interstate 95. It is less than 2 miles from Jacksonville International Airport and is less than 14 miles from downtown Jacksonville.
• Property is only 8 years old, resulting in a long remaining useful life for the next owner.
• Strong revenue performance and cash flow – For July 2015 T-12, Hotel had an Occupancy, ADR, and RevPAR of 88%, $61.57 and $54.45 respectively. Revenue and Gross Operating Profit totaled approximately $1.589 million and $459,800 respectively. Through June 2016, room revenue is up by approximately $130,450. NOI is projected to be $600K+ on a go forward basis due to an increase in rate the hotel is currently experiencing and potential costs savings.
• Property is currently being operated by a management company giving rise to significant cost savings for a more hands-on owner/operator or smaller company.
• An investor has the opportunity to acquire the Hotel at a significant discount to replacement cost, which is in the range of $80K+/- per key for an asset of this type.
• The Property is only 2 miles away from the River City Market, a retail development with ample dining options that has over 900,000 square feet of retail space with anchor tenants such as Lowes, Walmart, Bed Bath & Beyond, Gander Mountain, Wallace Theaters, Michaels, and Ashley Furniture Home Store.
• Excellent long term Wyndham brand affiliation - An investor has the opportunity to negotiate a long term franchise agreement with the Wyndham Group.
• Hotel Website:
• Financing Available – Please contact NGKF advisors for more details.
The Hotel is located in Duval County and in the Jacksonville MSA which ranks 4th in the state of Florida and had a 2015 population of approximately 1.4 million. It is the largest city by population in Florida, the 12th most populous city in the United States and largest city by area in the United States.
Jacksonville International Airport (JAX) is a civil-military airport that is less than 2 miles from the Hotel which has an estimated 5.5 million passengers as of 2015. Major airlines that serve the airport include but are not limited to Delta, American Airlines, JetBlue, Southwest, United Airlines, and Mesa Airlines. In addition to this, the Jacksonville Airport is also home to the 125th Fighter–Interceptor Group of the Jacksonville Air National Guard.
The Property’s interstate exit location makes it very convenient to other major cities in Florida and adjacent states. Gainesville, FL and Orlando, FL are all under 155 miles and an easy drive for travelers going to and from these markets or seeking to expand and enhance their Florida experience.
The Hotel’s close proximity to I-95 makes it attractive for not only regional but long-distance travelers as well. In addition to its close proximity to I-95, the Property benefits from the River City Market, a commercial development that has numerous shopping and eating outlets.
The Hotel is less than 25 miles from notable institutions such as the University of North Florida (16,000 students), and is minutes from demand generators including historic downtown and retail. The Naval Air Station that also employees over 20,000 is only 22 miles from the Hotel.
Jacksonville is home to three Fortune 500 companies that include CSX Corporation, Fidelity National Information Services Incorporated and Bi-Lo. It is considered a highly desirable location for many different industries.
The Hotel benefits from diverse demand segmentation, capturing considerable market share from the airport that include corporate, transient, leisure transient, corporate and state government segments.
Notable Developments - Amazon is currently constructing a 800,000 square foot distribution center across the street from the Hotel, once completed it is anticipated to employ over 1,500 people next year.
For more information regarding this investment opportunity, please contact the following Broker Team Associates:
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Newmark Grubb Knight Frank
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