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3915 Arkwright Road, Macon, GA
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3915 Arkwright Road
Macon, GA 31210-1702 - Outlying Bibb County Submarket
Number of Rooms:
2.14 AC (93,218 SF)
For Sale Price:
2.28 Parking Spaces / 1,000 SF
Seller Guidance: $4,800,000
Diligence: 30 Days
Escrow: 45 Days
Description for 3915 Arkwright Road, Macon, GA 31210
• The four-story, interior corridor, upper midscale Hotel features 79 rooms, fitness center, business center, indoor pool, evening social hour, complimentary breakfast, complimentary internet.
• Conveniently located on Arkwright Road just off of Interstate 75 (Exit # 169). Additionally, the Hotel benefits from excellent signage at street-level on Arkwright Road as well as Interstate 75. It is 25 miles from Robins Air Force Base and is less than 90 miles from the state capital Atlanta, GA.
• The Property is less than 3 miles away from the Shoppes at River Crossing, a retail development with ample dining options that has over 750,000 square feet of retail space with anchor tenants such as Dillards, Belk, Barnes and Noble, and Dicks Sporting Goods.
• The Hotel is less than 5 miles from notable institutions such as Mercer University (9,000 students), Middle Georgia State University (7,676 students), and minutes from demand generators including historic downtown and retail. Robins Air Force Base is also less than 25 miles from the Hotel. • Strong revenue performance and cash flow – For 2015, the Hotel had an Occupancy, ADR, and RevPAR of 63.7%, $73.96 and $49.78 respectively. Its RevPAR index was 103% in 2015. Revenue and Net Operating Profit totaled approximately $1.39 million and $478,000 respectively. Through May 2016, room revenue is up by approximately $47,000. The Hotel has diversified demand during the week along with strong weekend demand.
• Excellent long term Carlson Rezidor brand affiliation – An investor has the opportunity to negotiate a long term franchise agreement with the Carlson Rezidor Group.
• Being offered unencumbered by management.
• Asset will be sold at a significant discount to replacement cost and is only 7 years old – with high and continuously increasing construction costs plus no return on investment during the land acquisition and construction period, we have estimated a new build similar to the Country Inn and Suites to be $103K+/- a key. This replacement cost is significantly higher than that of purchasing the existing Country Inn and Suites and making it in like new condition via a renovation. Additionally, the change-of-ownership PIP allows for ample to complete
• Macon is located off of I-75, which is approximately 80 miles south of Atlanta, 160 miles west of Savannah and approximately 175 miles north of the Georgia/Florida State line.
• The Property’s interstate exit location makes it very convenient to other major cities in Georgia and adjacent states. Columbus, GA and Augusta, GA are all under 125 miles and an easy drive for travelers going to and from these markets or seeking to expand and enhance their Georgia experience.
• The Hotel’s close proximity to I-75 and nearby U.S. Highway 26 makes it attractive for not only regional but long-distance travelers as well. In addition to its close proximity to I-75, the Property benefits from The Shoppes at River Crossing, a commercial development that has numerous shopping and eating outlets.
• The Property is less than 5 miles away from Wesleyan College, a four year private women’s college focusing on liberal arts that was built in 1928 with a 200 acres campus.
• Bibb County is home to several major companies including Geico, Wal-Mart, YKK Corporation of America, and Ricoh USA. Bibb County is considered a highly desirable location for many different industries.
• The composition of the Bibb County job market is heavily concentrated in three employment sectors: Educational and Health Services, Government, and Retail Trade.
• Leisure attractions include but are not limited to the Georgia Music Hall of Fame, Macon Centerplex, Douglass Theater, Tubman African American Museum, Macon International Cherry Blossom Festival, and historic downtown Macon.
• The Hotel benefits from diverse demand segmentation, capturing considerable market share from the corporate, transient, leisure transient, corporate and state government segments.
Please Click here For Hotel Website <
For more information regarding this investment opportunity, please contact the following Broker Team members:
Executive Managing Director
Normann Hauck Analyst
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Newmark Grubb Knight Frank
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