6737 Mahan Dr
Tallahassee, FL 32308
Red Roof Inn Tallahassee East · Hospitality Property For Sale · 28,873 SF

The property sits on 3.03 acres of land, and is located just off of Interstate 10. The close proximity to the highway (and both universities) offers visiting friends and family easy access to both universities, as well as nearby tourist attractions like Wakulla Springs, Florida's Capital building, the Antique Car Museum, the Florida Museum, and the Odyssey Science Center. The Quality Inn lives up to its name, offering guests free hot breakfast, free parking, free WiFi, an outdoor pool, a business center, and HDTV Stations. The rooms themselves boast numerous amenities as well, including coffee makers, refrigerators, microwaves, hair dryers, ironing tools, recharge devices, and 40-inch TVs. This Quality Inn beats out all of its competitors in the area in regard to occupancy rates. The property has a TTM occupancy rate of 65.3%, while its competitors in the area have been operating at just a 51.7% level of occupancy. The current ADR is significantly lower than its competitors at $69.49. Competing hotels in the area currently operate at an ADR of $75.87, therefore it would be easy for any investor to boost up the current ADR by roughly $6.00 over the next five years; this boost in ADR paired with an already extremely competitive occupancy rate will provide exponential returns for investors, with a modestly projected 33.35% leveraged IRR over the next 5 years. The current TTM RevPAR for the hotel is already 10.6% higher than competitive hotels in the area, making this a very exceptional investment opportunity while also significantly mitigating risk.