4874 Old National Hwy - Hospitality FOR SALE


College Park, GA 30337
$5,500,000 USD
404-398-2090
4874 Old National Hwy, College Park, GA for Sale
$5,500,000 USD
Hospitality - FOR SALE
1/11
null | Request Cap Rate

4874 Old National Hwy
College Park, GA 30337


HIGHLIGHTS

  • Well Built Solid Concrete Building, Land Size: 2.35 Acres, 2 Manager's Quarter
  • 60 Rooms are Renovated and Rentable Condition, Other 60 Rooms are closed for renovation, Seller is currently in process of Renovation with the Second
  • Bank Financing Available
  • Potential Additional Airport Parking Income
  • Potential Billboard Income
  • Owner Financing Available to Qualified Investors with 20% Downpayment

OVERVIEW

3 Miles from Atlanta International Airport. Premium Interstate Location with Excellent Visibility Off the Interstate. Located Right Off the Exit The Hotel is adjacent to two major highways, I-85 and I-285, and sits adjacent to from the World's Busiest Airport Hartsfield Jackson, only minutes from Downtown Atlanta and 2.2 miles from Georgia International Convention Center. Opportunity to enter one of the most prominent and well-recognized markets of Atlanta being adjacent to the world's busiest airport. With an expected increase in demand to the area and an overall reduction of supply, a new owner should be able to drive higher RevPAR and significantly increase cash flow to the bottom line. Incredible Value Add Opportunity In Atlanta Market Property Highlights: 1. Prime Downtown Location – Located in the heart of Atlanta, the hotel offers easy access to the city's vibrant business district, shopping, dining, and entertainment options. The hotel is approximately 13 miles from Downtown Atlanta. 2. Proximity to Major Attractions – 14 miles from the Georgia Aquarium, 15 miles from World of Coca-Cola, and 12.8 miles from Centennial Olympic Park, the hotel places near Atlanta’s top attractions. 3. Convenient Access to Transportation – Located near major highways and public transportation, the hotel is about 3 miles from Hartsfield-Jackson Atlanta International Airport, making travel convenient. 4. Business-Friendly Amenities – Situated close to the Georgia World Congress Center, 14.4 miles away, and other corporate offices, making it a great choice for those attending conferences, conventions, and meetings. 5. Cultural Hotspot – With easy access to museums, theaters, and music venues, the hotel is about 14.2 miles from the Fox Theatre, and 21.6 miles from the Atlanta History Center. 6. Green Space and Outdoor Activities – For outdoor enthusiasts, the Atlanta BeltLine is just 14.6 miles away, offering cycling, walking, and jogging opportunities, while Piedmont Park is only 16.3 miles from the hotel. College Park, located adjacent to Hartsfield-Jackson Atlanta International Airport, is a city experiencing significant revitalization and growth. Its developments are focused on a mix of residential, commercial, and public infrastructure projects, often in partnership with private developers, to transform the city into a more vibrant and livable community. Here are some of the key developments coming to College Park: Major Redevelopment and Mixed-Use Projects Six West: This is a major public-private development project spanning over 311 acres of city-owned property. Located just west of the historic downtown and the College Park MARTA station, Six West is envisioned as a mixed-use regional center with residential, commercial, and entertainment venues. This project is a centerpiece of the city's long-term development strategy. Godby Road Corridor Revitalization: The city is making a concerted effort to re-energize the Godby Road corridor. A key component of this is the Blue Sky affordable housing complex, a 180-unit project under construction that will feature six buildings and a clubhouse with a pool. This development is designed to provide more housing options and is part of a broader "smart growth" initiative. Residential Developments Affordable Housing: In addition to the Blue Sky development, College Park is prioritizing the creation of a diverse range of housing options. This includes new residential developments and apartments aimed at providing affordable housing for residents, with a specific focus on those who work in the area, including at the airport. New Construction Communities: Several new housing communities are being built by various developers, offering a mix of single-family homes, townhomes, and condos. Examples include: Hawthorne Station and Sherwood Manor are new home communities with various floor plans and units under construction. Morning Creek Forest is a new townhome community. Commercial and Public Projects Gateway Center Campus: This campus is a key economic driver for College Park. It includes the Georgia International Convention Center (GICC), the Gateway Center Arena, hotels, and office space, all connected to the airport via the ATL Skytrain. There are plans for new hotels and other businesses to be added to this campus. New Businesses and Retail: The city is seeing an influx of new businesses and is actively supporting the revitalization of its downtown area. This includes: New businesses and restaurants are opening along Main Street, filling vacant storefronts and attracting new customers. The city is using a facade grant program to help improve commercial properties in the Main Street and Virginia Avenue Business District. Recreation and Green Space: College Park is also focusing on improving its public spaces. A new botanical garden is planned for a 40-acre site on Camp Truitt. The project is a collaboration with Fulton County and is intended to be an "urban oasis" for residents and a tourist destination. A new city park is also planned for the area around the new Blue Sky development. The Gateway Pedestrian Bridge and Trail Project is a development that will connect the Gateway Campus to Downtown College Park, improving walkability and connectivity. Please Do Not Call The Hotel or Hotel Employees about the Sale of the Hotel. Absentee Owner.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$119 USD /SF

# OF ROOMS

120

PRICE/ROOM

$45,833 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rashelle Hotel Atlanta - GA

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1979

PARKING SPACES

105

LAND DETAILS

LAND ACRES

2.35 AC

LAND SF

102,366 SF

ZONING

C2, CP

APN/PARCEL ID

13-0061-LL-137-0

ASK ABOUT THIS PROPERTY

Raiyan RabNumarix Real Estate ServicesMore Info
404-398-2090

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Raiyan RabNumarix Real Estate ServicesMore Info
404-398-2090

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