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506 Highway 45 N
Columbus, MS 39701
My Home Extended Stay · Hospitality Property For Sale
·
99 Rooms
EXECUTIVE SUMMARY
**SELLER FINANCING AVAILABLE**
The 96-key My Home Extended Stay, located in the rapidly growing city of Columbus, MS, underwent major renovations between 2022 and 2023 and achieved strong occupancy and ADR in its first full year of operations in 2024. With the city's ongoing economic expansion, the property is projected to continue its growth trajectory in 2025. As the only true extended stay product in the market, My Home Extended Stay is well-positioned to capture a significant share of demand generated by the $2.5 billion industrial construction project—one of the largest in Mississippi's history—along with several other major developments.
Columbus’ growth is expected to drive further job creation and business travel, boosting demand for extended stay accommodations. In its first full year of operation, the property generated over $1 million in revenue with an impressive 43.69% NOI, totaling $473,909. It also maintained an occupancy rate above 60% with a steady ADR of $50. As the property continues to stabilize and capitalize on new demand, revenue is projected to approach $1.5 million over the next two years.
Major Demand Generators for Hotels in Columbus, MS:
Industrial and Manufacturing Expansion - Steel Dynamics Aluminum Mill: A $2.5 billion investment in a production facility in Lowndes County is underway and is projected to be completed by early 2025.
Aerospace and Defense Industry Growth - Stark Aerospace: Awarded a $61.5 million U.S. Navy contract with potential to increase to $312.8 million, creating at least 96 new jobs. Aurora Flight Sciences: A Boeing company, is investing nearly $43.8 million to expand its Columbus facility, and is expected to create 63 new jobs by the end of 2025.??
Retail Development - Rural King: Plans to open a new store in Columbus by 2026, repurposing a long-vacant property and creating 60 to 70 full and part-time jobs.
Enhanced Air Connectivity - Golden Triangle Regional Airport (GTR): New American Airlines flights to Dallas/Fort Worth International Airport by summer 2025.
Healthcare Services - Baptist Memorial Hospital-Golden Triangle regional healthcare hub, attracting patients and medical professionals, creating consistent demand for extended stay accommodations.
Educational Institutions - Mississippi University for Women and Mississippi School for Mathematics and Science: Hosting various events and attracting visitors, contributing to local lodging needs
For more information about this property, and others, please visit tabanirealty.com/listings.
The 96-key My Home Extended Stay, located in the rapidly growing city of Columbus, MS, underwent major renovations between 2022 and 2023 and achieved strong occupancy and ADR in its first full year of operations in 2024. With the city's ongoing economic expansion, the property is projected to continue its growth trajectory in 2025. As the only true extended stay product in the market, My Home Extended Stay is well-positioned to capture a significant share of demand generated by the $2.5 billion industrial construction project—one of the largest in Mississippi's history—along with several other major developments.
Columbus’ growth is expected to drive further job creation and business travel, boosting demand for extended stay accommodations. In its first full year of operation, the property generated over $1 million in revenue with an impressive 43.69% NOI, totaling $473,909. It also maintained an occupancy rate above 60% with a steady ADR of $50. As the property continues to stabilize and capitalize on new demand, revenue is projected to approach $1.5 million over the next two years.
Major Demand Generators for Hotels in Columbus, MS:
Industrial and Manufacturing Expansion - Steel Dynamics Aluminum Mill: A $2.5 billion investment in a production facility in Lowndes County is underway and is projected to be completed by early 2025.
Aerospace and Defense Industry Growth - Stark Aerospace: Awarded a $61.5 million U.S. Navy contract with potential to increase to $312.8 million, creating at least 96 new jobs. Aurora Flight Sciences: A Boeing company, is investing nearly $43.8 million to expand its Columbus facility, and is expected to create 63 new jobs by the end of 2025.??
Retail Development - Rural King: Plans to open a new store in Columbus by 2026, repurposing a long-vacant property and creating 60 to 70 full and part-time jobs.
Enhanced Air Connectivity - Golden Triangle Regional Airport (GTR): New American Airlines flights to Dallas/Fort Worth International Airport by summer 2025.
Healthcare Services - Baptist Memorial Hospital-Golden Triangle regional healthcare hub, attracting patients and medical professionals, creating consistent demand for extended stay accommodations.
Educational Institutions - Mississippi University for Women and Mississippi School for Mathematics and Science: Hosting various events and attracting visitors, contributing to local lodging needs
For more information about this property, and others, please visit tabanirealty.com/listings.
PROPERTY FACTS
| Price Per Room | $63,131 | No. Rooms | 99 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1960/2012 |
| Property Subtype | Hotel | Parking Ratio | 3.78/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 2.70 AC | Opportunity Zone |
Yes
|
| Building Size | 41,519 SF | ||
| Zoning | B - General Business | ||
| Price Per Room | $63,131 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.70 AC |
| Building Size | 41,519 SF |
| No. Rooms | 99 |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2012 |
| Parking Ratio | 3.78/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | B - General Business |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $85.00 | - |
| Guest Room | 97 | $74.00 | - |
PROPERTY TAXES
| Parcel Number | 61W08-00-16500 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $231,242 |
PROPERTY TAXES
Parcel Number
61W08-00-16500
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$231,242
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