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7408 Highway 182 E - Red Roof Inn, Morgan City, LA

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7408 Highway 182 E - Red Roof Inn

Morgan City, LA 70380-2236

Property Type:Hospitality Number of Rooms:138 Status:Existing Year Built:1972
Stories:2 Building Size:99,999 SF Land Area:3.17 AC (138,085 SF)
For Sale Price:$3,500,000 Price/Room:$25,362 Cap Rate:-

Parking:1.8 Parking Spaces / 1,000 SF

The Red Roof Inn in Morgan City is a 139-room, exterior-corridor, economy hotel located on Highway 90 in Morgan City, Louisiana. The hotel is located approximately 70 miles west of New Orleans, 60 miles south of Baton Rouge and 60 miles east of Lafayette. The two-story hotel is currently undergoing several renovations and will be deliverable with Red Roof New NEXTGEN rooms. This newly repositioned asset is set to re-launch in the fourth quarter of 2015. The Red Roof Inn offers the minimalist, simple, modern and authentic amenities and finishes desired for leisure and business travelers.
Morgan City is located in the Cajun South of Louisiana. Morgan City is renowned for fishing, hunting and Cajun cuisine. The hotel is located near the McDermott Shipyard and LEPA Power Plant which broke ground in mid 2014. In late 2014, Danos recently broke ground on a Fabrication Facility that sits near the Red Roof Inn.

The Red Roof Inn is offered as a $3,500,000 investment opportunity. Based on 2015 Annualized numbers, the hotel is priced a 8.50 percent cap rate and 11.51 percent cap rate on Increased year one revenue estimates. Please see broker for additional information.

Sale Notes:
Exterior Corridor Economy Hotel in morgan City Louisianan . Recently Renovated . Has restaurant Which Is Leased . Total building Size Not Known .

Shrey International
Amit A Mehta
(713) 333-1448

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