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La Casa Inn Albany Near Tifton US 82 422 W Oglethorpe Blvd 36 Room Hotel Albany, GA 31701 $2,200,000 ($61,111/Room) 5.32% Cap Rate
Investment Highlights
- Trailing 12-months Revenue (on paper): $326,372
- Asking only $29k per key!
- Total Rooms: approximately 90 by reclaiming storage / owner / manager suites
Executive Summary
Rentable Rooms: 75
Trailing 12-months Revenue (on paper): $326,372
Occupancy Rate: 29.1%
Average Daily Rate (ADR): $50
RevPAR: $11.93
Effective ADR (including Weekly Stays): $40.97
Typical Weekly Rate: $230 per week (excl. taxes)
Live where you work! Property includes Manager's Apartment (1 bed, 1 bath, kitchen, and living room) as well as a large Owner's Residence with 5-Bedrooms, 5.5 Bathrooms and kitchen with living room, roughly 3,500 sq ft!
Total Rooms: approximately 90 by reclaiming storage / owner / manager suites
Roughly 1/4th of the rooms being rented out are weekly stays, with a lot of construction crews. There is limited online reservation as 70% of the customers are local. Therefore, there is no value in being with a franchise and paying royalties!
The Property currently has a Wyndham flag. However, the franchise agreement will be terminated. Buyer can decide to rebrand or run it as an independent property and avoid royalties!
Asking only $29k per key!
Seller's Take Home is $117,000 per year! Seller lives onsite and manages the front desk so he does not have to pay a front desk employee.
Seller is obtaining a Liquor License and converting a few rooms into a 2,000 sq ft liquor store to meet the local demand! Expected Open Date is in February!
Trailing 12-months Revenue (on paper): $326,372
Occupancy Rate: 29.1%
Average Daily Rate (ADR): $50
RevPAR: $11.93
Effective ADR (including Weekly Stays): $40.97
Typical Weekly Rate: $230 per week (excl. taxes)
Live where you work! Property includes Manager's Apartment (1 bed, 1 bath, kitchen, and living room) as well as a large Owner's Residence with 5-Bedrooms, 5.5 Bathrooms and kitchen with living room, roughly 3,500 sq ft!
Total Rooms: approximately 90 by reclaiming storage / owner / manager suites
Roughly 1/4th of the rooms being rented out are weekly stays, with a lot of construction crews. There is limited online reservation as 70% of the customers are local. Therefore, there is no value in being with a franchise and paying royalties!
The Property currently has a Wyndham flag. However, the franchise agreement will be terminated. Buyer can decide to rebrand or run it as an independent property and avoid royalties!
Asking only $29k per key!
Seller's Take Home is $117,000 per year! Seller lives onsite and manages the front desk so he does not have to pay a front desk employee.
Seller is obtaining a Liquor License and converting a few rooms into a 2,000 sq ft liquor store to meet the local demand! Expected Open Date is in February!
Property Facts
Amenities
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 36 | $63.00 | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0000B-00004-002 | Improvements Assessment | $417,960 |
| Land Assessment | $48,560 | Total Assessment | $466,520 |
Property Taxes
Parcel Number
0000B-00004-002
Land Assessment
$48,560
Improvements Assessment
$417,960
Total Assessment
$466,520
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La Casa Inn Albany Near Tifton US 82 | 422 W Oglethorpe Blvd