2738 N Monroe St - Hospitality FOR SALE


Tallahassee, FL 32303- Northwest Tallahassee
$3,000,000 USD
561-227-2672
2738 N Monroe St, Tallahassee, FL for Sale
$3,000,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

2738 N Monroe St
Tallahassee, FL 32303
Northwest Tallahassee


HIGHLIGHTS

  • Listed for $34k/Room
  • Multiple Franchises/Flags Available
  • Zoned Byright for Conversion to Multifamily

OVERVIEW

• Purchase Price: $3,000,000 • 101 Rooms (70 Currently Rentable – Seller In Process of Renovating/Repairing Remaining Rooms) • At $29,703/Room, this Hotel is Currently the Lowest Price/Room Hotel Currently Available/Listed for Sale in the State of Florida* o *Per CoStar Search of Hotel Listings with Advertised Price (not listed as Unpriced/Request for Offers) as of September 2025 • Out-of-State Seller; Absentee Owned & Operated • Situated on +/- 2.26-Acre Parcel • Concrete Block Construction – Per Leon County Property Appraiser • Multiple Franchises Available, including: o Rodeway Inn by Choice, o Park Inn by Choice, o Super 8 by Wyndham, o Travelodge by Wyndham and o Howard Johnson by Wyndham, among others • Multifamily Conversion Allowed By-Right – Zoned for CP-Commercial Parkway o The 160-Room Seven Hills Suites hotel located directly across the street, was successfully converted to a multifamily complex. This project is a clear example of the willingness of Tallahassee local city/county officials in supporting hotel-to-multifamily conversions. • Custom Trend Report Shows Possibility for Hotel to Generate $45+ RevPAR ($1.6M+ Revenue) o Please refer to Page 28 for details o Trend Report includes following properties in the immediate area surrounding Loyalty Inn: ? Baymont by Wyndham (3210 N. Monroe) ? Red Roof Inn (2930 Hospitality Rd) ? Econo Lodge (2681 N. Monroe) ? La Quinta Tallahassee (2905 N. Monroe) ? Quality Inn Tallahassee (3090 N. Monroe) ? Motel 6 Tallahassee (2801 N. Monroe)

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$75 USD /SF

# OF ROOMS

101

PRICE/ROOM

$29,703 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Loyalty Inn Tallahassee

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1985

PARKING SPACES

75

LAND DETAILS

LAND ACRES

2.26 AC

LAND SF

98,446 SF

ZONING

CP

APN/PARCEL ID

21-14-20-424-000.0

ASK ABOUT THIS PROPERTY

Gabriel ShamayCushman & WakefieldMore Info
561-227-2672

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Gabriel ShamayCushman & WakefieldMore Info
561-227-2672

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.