Ready-to-Flag Extended Stay Hotel | 115 Liberty Branch Ln
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Ready-to-Flag Extended Stay Hotel 115 Liberty Branch Ln
105 Room Hotel Athens, TN 37303 $8,858,875 CAD ($84,370 CAD/Room)
Investment Highlights
- 105 Room, Exterior Corridor Hotel, Well Positioned as the Only Extended Stay Hotel within 25 Miles, Excellent Location Directly on Interstate 75
- Full Kitchenettes in Each Room Including Stove Top, Refrigerator, Sink, and Microwave
- Pro Forma Revenues of $1,607,331 in Year 1 and Net Income of $557,229
- Completely Renovated: New Electrical, Plumbing, Mechanical, Fire Alarm, Sprinkler, Drywall, Flooring, Paint, FF&E and More. Total Cost of CapEx: $4.4M
- Conversion Opportunity: Several Flags Available with Key Money Incentives including Suburban Studios (Choice), Select Suites (ESA), Red Roof Inn, etc
- Certificate of Occupancy Date: Aug/Sept 2024. Seller Highly Motivated to Sell Prior to Opening - Offers Encouraged for Buyers with at Least 20% Down
Executive Summary
This is a 105 unit, 2 story, exterior corridor hotel located in Southeast TN midway between Chattanooga and Knoxville directly on Interstate 75.
The hotel is poised for a strong position in the market as the only extended stay hotel for 25 miles. Pro forma revenues project to be $1,607,331 in Year 1, $1,705,217 in Year 2 and $1,826,629 by Year 3.
Complete renovations are ongoing and include all new electrical, plumbing, mechanical, fire alarm, sprinkler, drywall, flooring, paint, FF&E, public areas and much more, set to be completed by late August 2024. The hotel is fully turn-key with a tentative certificate of occupancy date of August/September 2024. The hotel features full kitchenettes in each room including a stove top, refrigerator, sink, and microwave.
It is unencumbered of brand, debt, and management with a variety of alternative brand options available for conversion including Suburban Studios (Choice), Select Suites (ESA), and others with Key Money Incentives for such a franchise license commitment.
The hotel is poised for a strong position in the market as the only extended stay hotel for 25 miles. Pro forma revenues project to be $1,607,331 in Year 1, $1,705,217 in Year 2 and $1,826,629 by Year 3.
Complete renovations are ongoing and include all new electrical, plumbing, mechanical, fire alarm, sprinkler, drywall, flooring, paint, FF&E, public areas and much more, set to be completed by late August 2024. The hotel is fully turn-key with a tentative certificate of occupancy date of August/September 2024. The hotel features full kitchenettes in each room including a stove top, refrigerator, sink, and microwave.
It is unencumbered of brand, debt, and management with a variety of alternative brand options available for conversion including Suburban Studios (Choice), Select Suites (ESA), and others with Key Money Incentives for such a franchise license commitment.
Property Facts
| Price | $8,858,875 CAD | Building Size | 43,468 SF |
| Price Per Room | $84,370 CAD | No. Rooms | 105 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 1975 |
| Property Subtype | Hotel | Parking Ratio | 2.3/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 7.70 AC | Opportunity Zone |
Yes
|
| Price | $8,858,875 CAD |
| Price Per Room | $84,370 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 7.70 AC |
| Building Size | 43,468 SF |
| No. Rooms | 105 |
| No. Stories | 3 |
| Year Built | 1975 |
| Parking Ratio | 2.3/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 105 | $79.38 CAD | - |
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PROPERTY TAXES
| Parcel Number | 039-139.00 | Improvements Assessment | $11,799 CAD |
| Land Assessment | $51,861 CAD | Total Assessment | $63,660 CAD |
PROPERTY TAXES
Parcel Number
039-139.00
Land Assessment
$51,861 CAD
Improvements Assessment
$11,799 CAD
Total Assessment
$63,660 CAD
zoning
| Zoning Code | Commercial |
| Commercial |
-
Tim Takao -
Amber Hotel Company
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Ready-to-Flag Extended Stay Hotel | 115 Liberty Branch Ln
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