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Comfort Inn | 99-Yr Lease | Annual Increases 3440 SW 40th Blvd 83 Room Hotel Gainesville, FL 32608 $5,810,000 ($70,000/Room) 5.85% Cap Rate
Investment Highlights
- Long Term Lease | Annual Rental Increases | Corporate Guaranty
- I-75 Visibility (98K+ VPD) | Dense Tourism & Hospitality Corridor |University of Florida (50K+ Students) | Top Performing Retailers
- Absolute NNN | Leased Fee Ownership | Income Tax-Free State Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Area | University-Driven Tourism
Executive Summary
• The tenant, Gator Hospitality LLC, signed a 99-year lease in 2007, extending through year 2106, with no termination options
• The lease features annual 1.5% rental increases, hedging against inflation
• The lease is guaranteed by Choice Hotels International (NYSE: CHH), one of the largest lodging franchisors in the world with more than 7,000 hotels
• The property includes 83 rooms across 4 stories
• The lease features annual 1.5% rental increases, hedging against inflation
• The lease is guaranteed by Choice Hotels International (NYSE: CHH), one of the largest lodging franchisors in the world with more than 7,000 hotels
• The property includes 83 rooms across 4 stories
Property Facts
| Price | $5,810,000 | Lot Size | 1.92 AC |
| Price Per Room | $70,000 | Building Size | 47,968 SF |
| Sale Type | Investment | No. Rooms | 83 |
| Cap Rate | 5.85% | No. Stories | 4 |
| Sale Condition | Ground Lease (Leasehold) | Year Built | 2001 |
| Property Type | Hospitality | Parking Ratio | 1.86/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C | ||
| Zoning | BI - Business Industrial | ||
| Price | $5,810,000 |
| Price Per Room | $70,000 |
| Sale Type | Investment |
| Cap Rate | 5.85% |
| Sale Condition | Ground Lease (Leasehold) |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.92 AC |
| Building Size | 47,968 SF |
| No. Rooms | 83 |
| No. Stories | 4 |
| Year Built | 2001 |
| Parking Ratio | 1.86/1,000 SF |
| Corridor | Interior |
| Zoning | BI - Business Industrial |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 11 | $161.00 | - |
| Guest Room | 72 | $146.00 | - |
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Bike Score®
Very Bikeable (82)
Property Taxes
| Parcel Number | 06800-026-000 | Improvements Assessment | $3,441,124 |
| Land Assessment | $1,535,076 | Total Assessment | $4,976,200 |
Property Taxes
Parcel Number
06800-026-000
Land Assessment
$1,535,076
Improvements Assessment
$3,441,124
Total Assessment
$4,976,200
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Comfort Inn | 99-Yr Lease | Annual Increases | 3440 SW 40th Blvd
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