Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 82-unit, Baymont by Wyndham Lake City, located in Lake City, Florida. The subject property is ideally located on 4.03 acres directly off I-75 with close proximity to all demand generators. The property was recently renovated and is being offered with a minimal PIP expected for a new investor. Common area amenities include complimentary breakfast, 24-hour front desk, guest-laundry facilities, business center with fax & photocopy machines, meeting & banquet facilities, outdoor swimming pool, fitness center, and free on-site parking. Each guest room is equipped with free Wi-Fi, flat-screen TV, desk with chair, microwave, refrigerator, in-room coffee & tea maker, private bathroom and hairdryer. Lake City is in northern Florida and referred to as the Gateway City for being the first city that Southbound I-75 travelers pass through when entering the state of Florida. The area benefits from the interstate intersection of I-75 and I-10, located just north of the city. Lake City is central to many major metros in including Jacksonville, Gainesville, and Tallahassee, as well as Valdosta, Georgia. The area attracts a variety of visitors including medical, sports, college, conferences, fairs, and multiple outdoor attractions. Two major medical centers are located within 5 miles of the property, HCA Florida Lake City Hospital and Lake City VA Medical Center. High demand generators in the area include the Florida Gateway Arena and the Florida Gateway Fairgrounds, both of which host year-round events attracting hundreds of visitors to the area. Additionally, Florida Gateway College located 9 miles away is a public college offering 4-year baccalaureate degrees with an enrollment of over 2,000 students.