422 W Oglethorpe Blvd - Hospitality FOR SALE


Albany, GA 31701
$2,200,000 USD
770-664-9999
422 W Oglethorpe Blvd, Albany, GA for Sale
$2,200,000 USD
Hospitality - FOR SALE
1/11
null | 5.32% Cap Rate

422 W Oglethorpe Blvd
Albany, GA 31701


HIGHLIGHTS

  • Trailing 12-months Revenue (on paper): $326,372
  • Total Rooms: approximately 90 by reclaiming storage / owner / manager suites
  • Asking only $29k per key!

OVERVIEW

Rentable Rooms: 75 Trailing 12-months Revenue (on paper): $326,372 Occupancy Rate: 29.1% Average Daily Rate (ADR): $50 RevPAR: $11.93 Effective ADR (including Weekly Stays): $40.97 Typical Weekly Rate: $230 per week (excl. taxes) Live where you work! Property includes Manager's Apartment (1 bed, 1 bath, kitchen, and living room) as well as a large Owner's Residence with 5-Bedrooms, 5.5 Bathrooms and kitchen with living room, roughly 3,500 sq ft! Total Rooms: approximately 90 by reclaiming storage / owner / manager suites Roughly 1/4th of the rooms being rented out are weekly stays, with a lot of construction crews. There is limited online reservation as 70% of the customers are local. Therefore, there is no value in being with a franchise and paying royalties! The Property currently has a Wyndham flag. However, the franchise agreement will be terminated. Buyer can decide to rebrand or run it as an independent property and avoid royalties! Asking only $29k per key! Seller's Take Home is $117,000 per year! Seller lives onsite and manages the front desk so he does not have to pay a front desk employee. Seller is obtaining a Liquor License and converting a few rooms into a 2,000 sq ft liquor store to meet the local demand! Expected Open Date is in February!

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$59 USD /SF

# OF ROOMS

36

PRICE/ROOM

$61,111 {currency}

CAP RATE

5.32%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Casa Inn Albany Near Tifton US 82

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.47 AC

LAND SF

64,033 SF

ZONING

C3

APN/PARCEL ID

0000B-00004-002

ASK ABOUT THIS PROPERTY

Kavita PurohitRiver BrokersMore Info
770-664-9999

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Kavita PurohitRiver BrokersMore Info
770-664-9999

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