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Loyalty Inn Tallahassee 2738 N Monroe St 101 Hotel Rooms Online Auction Sale Tallahassee, FL 32303
INVESTMENT HIGHLIGHTS
- Fee simple 101-key concrete block construction hotel with multiple value-add renovation or repositioning growth strategies available.
- Robust rebranding upside, with multiple flags available for a buyer, including Rodeway Inn, Park Inn, Super 8 and Travelodge, amongst many others.
- Quickly reach major demand drivers, including FSU, the State Capitol, Tallahassee Regional Airport, government offices, and vital medical centers.
- Multifamily conversion allowed by-right – CP-Commercial Parkway zoning permits multifamily usage without any change in zoning.
- Easily accessible location directly off N. Monroe Street, visible to 36,000+ daily vehicles, with convenient proximity to Interstate 10.
- Tap into Leon County’s booming tourism market, with over 2.6 million visitors and nearly $900 million in tourist spending during fiscal 2025.
EXECUTIVE SUMMARY
Cushman & Wakefield’s Hospitality Group is pleased to present the auction sale of the fee simple interest in the 101-room Loyalty Inn Tallahassee, located at 2738 N Monroe Street in Tallahassee, Florida.
Originally built in 1985 and renovated in 1998, Loyalty Inn Tallahassee spans a total of 29,200 square feet across four floors. The exterior-corridor property features a total of 101 rooms, with approximately 70 keys currently ready for operation. It sits on a spacious 2.26-acre lot with an access point from N Monroe Street and abundant on-site parking for 75 vehicles, welcoming the area’s high traffic counts.
The limited-service hotel enjoys a prime location directly off North Monroe Street and is within convenient proximity to Interstate 10. This strategic placement provides ease of access along one of Tallahassee’s main thoroughfares and expressways alongside robust visibility to over 36,000 daily vehicles. Located just minutes from Downtown Tallahassee, the property is ideally positioned near major attractions, including Florida State University, the State Capitol, and the Tallahassee Regional Airport. Other nearby reliable demand generators include nearby government offices, multiple other universities, and local healthcare centers. Further enhancing guest appeal, the property sits within an amenity-rich retail corridor that features industry-leading brands such as Walmart Supercenter, AutoZone, Ross Stores, Planet Fitness, Starbucks, Chick-fil-A, Culver’s, Krispy Kreme, and much more.
Delivered in worn condition, the hotel provides a new owner with a diverse array of value-add renovation or repositioning strategies. Hotel operators will enjoy flexibility, with several franchises/flags available, and the property is zoned by right for a potential multifamily conversion. There is a highly successful hotel-to-multifamily conversion directly across the street that is currently leasing quickly, exemplifying the local city/county’s willingness to support similar conversion projects.
The Loyalty Inn Tallahassee offers investors the opportunity to acquire a 101-room, independent hotel in a highly desirable and growing market with strong value-add potential.
Property tours are by appointment only. Please contact the listing broker to schedule.
Originally built in 1985 and renovated in 1998, Loyalty Inn Tallahassee spans a total of 29,200 square feet across four floors. The exterior-corridor property features a total of 101 rooms, with approximately 70 keys currently ready for operation. It sits on a spacious 2.26-acre lot with an access point from N Monroe Street and abundant on-site parking for 75 vehicles, welcoming the area’s high traffic counts.
The limited-service hotel enjoys a prime location directly off North Monroe Street and is within convenient proximity to Interstate 10. This strategic placement provides ease of access along one of Tallahassee’s main thoroughfares and expressways alongside robust visibility to over 36,000 daily vehicles. Located just minutes from Downtown Tallahassee, the property is ideally positioned near major attractions, including Florida State University, the State Capitol, and the Tallahassee Regional Airport. Other nearby reliable demand generators include nearby government offices, multiple other universities, and local healthcare centers. Further enhancing guest appeal, the property sits within an amenity-rich retail corridor that features industry-leading brands such as Walmart Supercenter, AutoZone, Ross Stores, Planet Fitness, Starbucks, Chick-fil-A, Culver’s, Krispy Kreme, and much more.
Delivered in worn condition, the hotel provides a new owner with a diverse array of value-add renovation or repositioning strategies. Hotel operators will enjoy flexibility, with several franchises/flags available, and the property is zoned by right for a potential multifamily conversion. There is a highly successful hotel-to-multifamily conversion directly across the street that is currently leasing quickly, exemplifying the local city/county’s willingness to support similar conversion projects.
The Loyalty Inn Tallahassee offers investors the opportunity to acquire a 101-room, independent hotel in a highly desirable and growing market with strong value-add potential.
Property tours are by appointment only. Please contact the listing broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Building Size | 39,986 SF |
| Sale Condition | Auction Sale | No. Rooms | 101 |
| Type of Ownership | Fee Simple | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1985/1998 |
| Property Subtype | Hotel | Parking Ratio | 1.88/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 2.26 AC | Parcel Number | 21-14-20-424-000.0 |
| Zoning | CP | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.26 AC |
| Building Size | 39,986 SF |
| No. Rooms | 101 |
| No. Stories | 4 |
| Year Built/Renovated | 1985/1998 |
| Parking Ratio | 1.88/1,000 SF |
| Corridor | Exterior |
| Zoning | CP |
| Parcel Number | 21-14-20-424-000.0 |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 101 | $71.00 | - |
ABOUT TALLAHASSEE
Tallahassee is the state capital of Florida, and government-related travel is a key driver of hotel demand in the area. Visitors are also drawn to the area by its history, nature, and institutions of higher education.
The Capitol Complex includes the restored Historic Capitol, completed in 1845 and now a museum with displays on Florida’s political history. Nearby, exhibits at the Museum of Florida History cover European colonization, the Civil War, and WWII. Visitors can tour Mission San Luis de Apalachee, a Spanish Franciscan mission built in 1656, and the city's antebellum mansions including the Goodwood Museum and Gardens.
Tallahassee also offers abundant opportunities for hiking, biking, horseback riding, and paddling. The J.R. Alford Greenway and Canopy Road Greenway provide miles of trails, and the Alfred B. Maclay Gardens State Park features trails, swimming, fishing, and kayaking.
With a student population exceeding 70,000, Tallahassee is a college town, home to Florida State University, Florida A&M University, and Tallahassee Community College. The universities generate lodging demand with events such as parents’ weekends, homecoming, and college sports. FSU home football games, for instance, average nearly 60,000 attendees.
Tallahassee International Airport, conveniently located less than 20 minutes from downtown Tallahassee, provides scheduled service on American Airlines, Delta Air Lines, and Silver Airways.
The area is easily accessible by Interstate 10, the southernmost cross-country Interstate Highway in the American Interstate Highway System, stretching from the Pacific Ocean at California State Route 1 (Pacific Coast Highway) in Santa Monica, California, to Interstate 95 in Jacksonville, Florida.
SALE ADVISORS
SALE ADVISORS
Gabriel Shamay, Managing Director
Gabriel is a Managing Director within Cushman & Wakefield’s Southeast Hospitality Investment Sales Team. In this role, Gabriel provides strategic advisory to local, national and international clients for a variety of hotel real estate assignments.
Prior to joining Cushman & Wakefield, Gabriel was a First Vice President Investments at Marcus & Millichap and a Director of the firm’s national Hospitality Division. During his tenure at Marcus & Millichap, Gabriel was involved in the sale of 57 hotels nationally, totaling over $520 million in value and provided advisory services/consultation work for 200+ hotel owners and investors. His efforts helped grow the firm’s presence throughout Florida and earned him multiple corporate awards, including Marcus & Millichap’s coveted National Achievement Award, Sales Recognition Award and Top 10 Hospitality Agent throughout the firm.
Prior to joining Cushman & Wakefield, Gabriel was a First Vice President Investments at Marcus & Millichap and a Director of the firm’s national Hospitality Division. During his tenure at Marcus & Millichap, Gabriel was involved in the sale of 57 hotels nationally, totaling over $520 million in value and provided advisory services/consultation work for 200+ hotel owners and investors. His efforts helped grow the firm’s presence throughout Florida and earned him multiple corporate awards, including Marcus & Millichap’s coveted National Achievement Award, Sales Recognition Award and Top 10 Hospitality Agent throughout the firm.
David Greenberg, Vice Chair
With extensive experience in acquisitions, development, and hotel finance, Mr. Greenberg has tremendous contacts with buyers at all levels and has facilitated the sale of over 100 hotels nationwide. Clients include private and public companies as well as financial institutions. Prior to joining Cushman & Wakefield, Mr. Greenberg held a senior position with Sunburst Hospitality Corporation, an owner-operator of hotels nationwide. During his tenure with Sunburst, Mr. Greenberg worked on 75 completed transactions in excess of $315 million, including a portfolio sale of 17 hotels for $92 million. These transactions ranged in type and included the disposition of full service, select service, limited service, and extended stay hotels. Mr. Greenberg has over 20 years of experience in the hotel industry with both public and private companies. As one of the leading brokers in the hospitality industry, Mr. Greenberg possesses broad experience in analyzing complex transactions and has personally been involved in the acquisition and development of a variety of individual hotels throughout his career. The personal experience Mr. Greenberg brings to Cushman & Wakefield assists him in every aspect of the sales process from identifying and pre-qualifying a buyer, to anticipating potential issues before they arise during the due diligence period. This insight and experience has enabled Mr. Greenberg to successfully guide both buyers and sellers through difficult transactions.
Jesse Lastofsky, Senior Associate
Jesse Lastofsky is a Senior Associate at Cushman & Wakefield who specializes in hotel investment sales throughout the Southeast, with his focus on the Gulf Region of the United States. Jesse began his Real Estate career with the Greenberg Hotel Group at Marcus & Millichap in 2021 as a Financial Analyst, where he analyzed, underwrote, and modeled over $2 billion worth of hospitality properties. He has analyzed properties ranging from $750,000 motels up to $50+ million waterfront resorts and has experience with limited-service, full-service, independent, and flagged hotels. When Greenberg and his team were brought over to Cushman & Wakefield to open the Southeast Hotel Group, Jesse transitioned from the Financial Analyst role to an investment sales position.
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AUCTION CONTACT
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Loyalty Inn Tallahassee | 2738 N Monroe St
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