|Price/Rent PSF||$ 1,300,000.00|
|SQ. FT. Available||17,272|
Just south of downtown Elberton across from Elberton Country Club
95 miles East of down town Atlanta
Magnuson Hotel in Elberton, GA located 2 miles from quaint downtown Elberton and 110 miles east of Atlanta. Priced below replacement cost at $1,300,000, $28,800 per room.
Revenue increasing since owner started managing the property full time in early 2019. 2 story, exterior corridor, previously Holiday Inn Express, Econolodge and in 2013 Magnuson Hotel. Large manager apartment with full kitchen. Upgrades done in 2018. Adjacent lot being leased for additional guest RV and truck parking. Seasonal exterior pool. 45 rooms including manager apartment. 2 rooms currently being used for storage.
Through additional marketing the hotel could potentially see a large increase in revenue.
Elbert’s County also known as the “Granite Capital of the World” is home to industry giants such as Pilgrim’s Pride, Hailo, Moller Tech and Bubba Foods. A 4 lane expansion of Hwy 72 is in process to accommodate the growth in the area.