Sleep Inn & Suites Valdosta | 3026 James
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Sleep Inn & Suites Valdosta 3026 James
71 Room Hotel Valdosta, GA 31601 $4,800,000 ($67,606/Room) 7.91% Cap Rate
Investment Highlights
- • 71-Rooms | 3 Stories | Interior Corridor
- • Amenities Include: Outdoor Pool, Fitness Center, Business Center, Laundry, Elevators, Sun Deck, Dining Area, Arcade / Game Room
- • T-12 July 2024 NOI / Cap Rate: $379,691 NOI / 7.91% Cap Rate
- • Conversion Opportunity
- • T-12 July 2024 Room Revenue / RRM: $1,160,182 Room Revenue / 4.14x RRM
- • Rank 2 out of 5 RevPAR vs Competitive Set T-12 July 2024
Executive Summary
OFFERING OVERVIEW:
DSH Hotel Advisors has been retained as the exclusive broker to market the Sleep Inn & Suites Valdosta, a Choice Hotel, located in Valdosta, Georgia. This three-story, 71-room, interior corridor hotel is strategically located off Interstate 75, with high visibility and ease of access to the highway. The property is being offered below replacement cost and presents a significant conversion opportunity in a growing market.
PROPERTY OVERVIEW:
The subject property remains in good condition due to an ongoing capital improvement plan and completed renovations. It is estimated that the change of ownership PIP would be approximately $400,000+/-; however, this estimate would need to be verified by change of ownership PIP issued by Choice Hotels. The property has benefited from substantial capital expenditures by both previous and current ownership, with current ownership investing approximately $350,000+/- in renovations. Recent upgrades under current ownership include:
• New Tiles in Hotel Lobby
• Breakfast Countertops Replaced
• New Tiles in Guest Bathrooms
• New Carpet in Hallway
• Elevator Landings Replaced
• New Lobby Seating
• New Carpet in Guest Rooms
• New Breakfast Tables & Chairs
• A/C Units Replaced
MARKET OVERVIEW:
The Sleep Inn & Suites in Valdosta, Georgia, is strategically located to capitalize on a range of diverse demand generators in the area. This property caters to various guest types, including leisure and business travelers, healthcare professionals, and visitors traveling along I-75. Key attractions such as Wild Adventures Theme Park, Valdosta State University, and local sports events create significant opportunities for attracting guests.
LOWNDES COUNTY:
Situated in southern Georgia, Lowndes County encompasses the city of Valdosta, which is a key hub and county seat in the region. The county’s estimated 2024 population is 121,925 with a growth rate of 1% in the past year according to the most recent United States census data. Lowndes County, Georgia is the 23rd largest county in Georgia. This area is well-positioned along the I-75 corridor, a major north-south route connecting Florida and the Great Lakes, facilitating significant transit and travel activity. Covering approximately 516 square miles, Lowndes County features a warm climate and a rich southern heritage. The county is also notable for its connection to the Civil War, with sites like the Confederate Memorial and various historic homes that reflect its rich heritage. Additionally, Lowndes County hosts the annual South Georgia Regional Fair, showcasing local culture and agriculture.
Property Highlights:
• Sleep Inn & Suites Valdosta, a Choice Hotel
• 71-Rooms | 3 Stories | Interior Corridor
• Year Built - 2002
• Located in a High Growth Market
• Conversion Opportunity
• Amenities Include: Outdoor Pool, Fitness Center, Business Center, Laundry, Elevators, Sun Deck, Dining Area, Arcade / Game Room
Location Highlights:
• 3.2 Miles to Valdosta State University
• 3.8 Miles to Drexel Park - Home of the Valdosta Azalea Festival
• 3.8 Miles to Bazemore - Hyder Stadium
• 5.0 Miles to Downtown Valdosta
• 10.5 Miles to Wild Adventures Theme Park
• 11.0 Miles to Grand Bay Wildlife Management Area
• 12.1 Miles to Moody Air Force Base
• 14.0 Miles to Lake Park Outlets
• 71 Miles to Tallahassee
• 80 Miles to Okefenokee Swamp
Financial Highlights:
• List Price of $4,800,000
• T-12 July 2024 Room Revenue / RRM: $1,160,182 Room Revenue / 4.14x RRM
• T-12 July 2024 NOI / Cap Rate: $379,691 NOI / 7.91% Cap Rate
• T-12 July 2024 Metrics : $89.71 ADR / $41.54 RevPAR / 46.30% OCC
• Rank 2 out of 5 RevPAR vs Competitive Set T-12 July 2024
DSH Hotel Advisors has been retained as the exclusive broker to market the Sleep Inn & Suites Valdosta, a Choice Hotel, located in Valdosta, Georgia. This three-story, 71-room, interior corridor hotel is strategically located off Interstate 75, with high visibility and ease of access to the highway. The property is being offered below replacement cost and presents a significant conversion opportunity in a growing market.
PROPERTY OVERVIEW:
The subject property remains in good condition due to an ongoing capital improvement plan and completed renovations. It is estimated that the change of ownership PIP would be approximately $400,000+/-; however, this estimate would need to be verified by change of ownership PIP issued by Choice Hotels. The property has benefited from substantial capital expenditures by both previous and current ownership, with current ownership investing approximately $350,000+/- in renovations. Recent upgrades under current ownership include:
• New Tiles in Hotel Lobby
• Breakfast Countertops Replaced
• New Tiles in Guest Bathrooms
• New Carpet in Hallway
• Elevator Landings Replaced
• New Lobby Seating
• New Carpet in Guest Rooms
• New Breakfast Tables & Chairs
• A/C Units Replaced
MARKET OVERVIEW:
The Sleep Inn & Suites in Valdosta, Georgia, is strategically located to capitalize on a range of diverse demand generators in the area. This property caters to various guest types, including leisure and business travelers, healthcare professionals, and visitors traveling along I-75. Key attractions such as Wild Adventures Theme Park, Valdosta State University, and local sports events create significant opportunities for attracting guests.
LOWNDES COUNTY:
Situated in southern Georgia, Lowndes County encompasses the city of Valdosta, which is a key hub and county seat in the region. The county’s estimated 2024 population is 121,925 with a growth rate of 1% in the past year according to the most recent United States census data. Lowndes County, Georgia is the 23rd largest county in Georgia. This area is well-positioned along the I-75 corridor, a major north-south route connecting Florida and the Great Lakes, facilitating significant transit and travel activity. Covering approximately 516 square miles, Lowndes County features a warm climate and a rich southern heritage. The county is also notable for its connection to the Civil War, with sites like the Confederate Memorial and various historic homes that reflect its rich heritage. Additionally, Lowndes County hosts the annual South Georgia Regional Fair, showcasing local culture and agriculture.
Property Highlights:
• Sleep Inn & Suites Valdosta, a Choice Hotel
• 71-Rooms | 3 Stories | Interior Corridor
• Year Built - 2002
• Located in a High Growth Market
• Conversion Opportunity
• Amenities Include: Outdoor Pool, Fitness Center, Business Center, Laundry, Elevators, Sun Deck, Dining Area, Arcade / Game Room
Location Highlights:
• 3.2 Miles to Valdosta State University
• 3.8 Miles to Drexel Park - Home of the Valdosta Azalea Festival
• 3.8 Miles to Bazemore - Hyder Stadium
• 5.0 Miles to Downtown Valdosta
• 10.5 Miles to Wild Adventures Theme Park
• 11.0 Miles to Grand Bay Wildlife Management Area
• 12.1 Miles to Moody Air Force Base
• 14.0 Miles to Lake Park Outlets
• 71 Miles to Tallahassee
• 80 Miles to Okefenokee Swamp
Financial Highlights:
• List Price of $4,800,000
• T-12 July 2024 Room Revenue / RRM: $1,160,182 Room Revenue / 4.14x RRM
• T-12 July 2024 NOI / Cap Rate: $379,691 NOI / 7.91% Cap Rate
• T-12 July 2024 Metrics : $89.71 ADR / $41.54 RevPAR / 46.30% OCC
• Rank 2 out of 5 RevPAR vs Competitive Set T-12 July 2024
Property Facts
| Price | $4,800,000 | Lot Size | 1.53 AC |
| Price Per Room | $67,606 | Building Size | 37,239 SF |
| Sale Type | Investment | No. Rooms | 71 |
| Cap Rate | 7.91% | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 2002 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | B |
| Price | $4,800,000 |
| Price Per Room | $67,606 |
| Sale Type | Investment |
| Cap Rate | 7.91% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.53 AC |
| Building Size | 37,239 SF |
| No. Rooms | 71 |
| No. Stories | 3 |
| Year Built | 2002 |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- Shuttle Service
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 14 | $101.00 | - |
| Guest Room | 57 | $71.00 | - |
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PROPERTY TAXES
| Parcel Number | 0081D-007 | Improvements Assessment | $606,145 |
| Land Assessment | $168,300 | Total Assessment | $774,445 |
PROPERTY TAXES
Parcel Number
0081D-007
Land Assessment
$168,300
Improvements Assessment
$606,145
Total Assessment
$774,445
zoning
| Zoning Code | C-H (Commercial Highway) |
| C-H (Commercial Highway) |
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Sleep Inn & Suites Valdosta | 3026 James
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