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Red Roof Inn & Suites - Statesboro GA in Opportunity Zone

Listing was updated on: 03/24/2020
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Property Overview

Price/Rent PSF $ 1,900,000.00
Asset Type Hospitality
Trade Type Sale
SQ. FT. Available 33,000
Date Available 03/24/2020
Additional URL Link
Floors 2
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Description

Location
Off Hwy 316 that connects to I-16 connecting to Macon/Atlanta or Savannah
Adjoining restaurants, minutes from Statesboro Mall, GATA Park, Jumping Place Skydiving Central, and Splash in the Boro Water Park
Short distance from Georgia Southern University and Ogeechee Technical College
1 hour from historic Savannah



Sale
Red Roof Inn located in historic Statesboro, GA in an Opportunity Zone. The hotel is 2 stories, exterior corridor, with 59 rooms. PIP and renovation completed in 2018 & 2019 with minimal pip for new buyer. Buyer has option to keep or change the brand. Priced below replacement cost at $1,900,000, $32,200 per room. 2019 revenue reached $526,000. Franchise agreement initiated June 2016 for 10 years, with 5 year window. Manager apartment with 2 bedrooms and 2 bathrooms. Growing community with 35,000+ residents and new developments planned for the area. Bank is ready to finance the hotel.

Location

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