Hotel-Motel

Holiday Inn Express & Suites Ridgeland - Jackson N

6485 N W Frontage Rd, Ridgeland, MS 39157

Listing Price: $3,300,000

Cap Rate
4.29%
Number of Rooms
111
RevPAR
$42
Gross SF
45,000
Price/Room
$29,730
RRM
1.94
Price/Gross SF
$73.33
Year Built
1997

Investment Overview

The Holiday Inn Express Ridgeland is a repositioning opportunity as the current flag will be terminated October 2020. At the current asking price of $42,342 a key is well below the replacement costs giving the buyer a value add opportunity by re-flagging the hotel making their basis much lower than a ground-up build. The hotel has been well maintained making the conversion primarily just cosmetic changes. The Ridgeland market has shown steady RevPar from 2016-2019 and should continue to hold/increase as the Jackson MSA grows.

Investment Highlights

  • Well Maintained Property in High Traffic Area in the Jackson, Mississippi MSA
  • Consistent Market With Steady RevPar Over Past Three Years
  • Surrounded by Restaurants and Retail - Target, Logan's Steak House, Chick-Fil-A
  • Re-Flagging Opportunity/Holiday Inn Express Flag Terminates January 2021

Exclusively Listed By

  • Keith Worsham

    Senior Vice President Investments

    Email Keith

    License(s): GA: 267014

    Atlanta

  • Grant Reaves

    Senior Associate

    (251) 929-7255

    Email Grant

    License(s): AL: 000100600

    Mobile

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

Hotel-Motel

Holiday Inn Express & Suites Ridgeland - Jackson N

Listing Price: $3,300,000

Cap Rate
4.29%
Number of Rooms
111
RevPAR
$42
Gross SF
45,000
Price/Room
$29,730
RRM
1.94
Price/Gross SF
$73.33
Year Built
1997

Investment Highlights

  • Well Maintained Property in High Traffic Area in the Jackson, Mississippi MSA
  • Consistent Market With Steady RevPar Over Past Three Years
  • Surrounded by Restaurants and Retail - Target, Logan's Steak House, Chick-Fil-A
  • Re-Flagging Opportunity/Holiday Inn Express Flag Terminates January 2021

Investment Overview

The Holiday Inn Express Ridgeland is a repositioning opportunity as the current flag will be terminated October 2020. At the current asking price of $42,342 a key is well below the replacement costs giving the buyer a value add opportunity by re-flagging the hotel making their basis much lower than a ground-up build. The hotel has been well maintained making the conversion primarily just cosmetic changes. The Ridgeland market has shown steady RevPar from 2016-2019 and should continue to hold/increase as the Jackson MSA grows.

Exclusively Listed By

  • Keith Worsham

    Senior Vice President Investments

    Email Keith

    License(s): GA: 267014

    Atlanta

  • Grant Reaves

    Senior Associate

    (251) 929-7255

    Email Grant

    License(s): AL: 000100600

    Mobile

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

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