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Hotel-Motel

Staybridge Suites Flowood - NW Jackson

2620 Lakeland Dr, Flowood, MS 39232

Listing Price: $11,500,000

Cap Rate
5.32%
Number of Rooms
97
RevPAR
$45
Price/Room
$118,557
RRM
7.28
Year Built
2021

Investment Overview

Hotel Attributes: The Staybridge Suites Flowood – NW Jackson is an extended-stay, upscale hotel built in 2021. The Hotel features 60 spacious single-bed suites, 37 double-bed suites, and several amenities such as a fitness center, business center, indoor pool, and an outdoor seating area. Prime Location with Easy Access to Market Demand Generators: The Property is positioned just off Lakeland Drive, offering excellent visibility and accessibility to major demand generators in the vicinity. Leisure demand generators include Flowood Nature Park, Mississippi State Fairgrounds, The Jackson Zoo, Mississippi Museum of Art, and LeFleur’s Bluff Stat Park. Located within the Jackson metro, Flowood prospers from Mississippi’s largest city with its various attractions and position as a hub of business activity. Several universities in the area such as Jackson State University, Tougaloo College, Millsaps College, Belhaven University, University of Mississippi Medical Center, Mississippi College School of Law, and Hinds Community College all provide demand for rooms in area for events throughout the year. Jackson Mississippi RevPAR Growth: Over the trailing-twelve-month period, the Jackson market RevPAR has increased approximately 9.7 percent, illustrating signs of continued growth in the region. New Construction within High-Barrier-to-Entry Market: The subject Property is expected to achieved gross room revenues in excess of $1.58 million through the first twelve months of operations since completion of construction. Once stabilized, the subject Property is expected to be a leading property amongst the STR-defined comp set, with greater than 100 percent market RevPAR penetration. Fee-Simple Interest: The Hotel presents an opportunity to acquire a well-branded, midscale asset as a fee-simple.

Investment Highlights

  • Six-Story, 97-Room, Extended-Stay, Upscale, New Construction, IHG-Branded Hotel in a High-Barrier-to-Entry Market
  • New Construction with Little to No PIP Expected at Transfer
  • Once Stabilized Property Should Achieve 100% Market Penetration
  • Moratorium on Hotel Construction in Rankin County Insulates Property from Competition
  • Highly Visible from its Position off Lakeland Drive
  • Plethora of Nearby Leisure and Business Demand Generators Including Universities, Business Headquarters, and Tourist Attractions
  • Year-End 2022 Pro Forma Room Revenues of Over $1.58 Million

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Financing By

Hotel-Motel

Staybridge Suites Flowood - NW Jackson

Listing Price: $11,500,000

Cap Rate
5.32%
Number of Rooms
97
RevPAR
$45
Price/Room
$118,557
RRM
7.28
Year Built
2021

Investment Highlights

  • Six-Story, 97-Room, Extended-Stay, Upscale, New Construction, IHG-Branded Hotel in a High-Barrier-to-Entry Market
  • New Construction with Little to No PIP Expected at Transfer
  • Once Stabilized Property Should Achieve 100% Market Penetration
  • Moratorium on Hotel Construction in Rankin County Insulates Property from Competition
  • Highly Visible from its Position off Lakeland Drive
  • Plethora of Nearby Leisure and Business Demand Generators Including Universities, Business Headquarters, and Tourist Attractions
  • Year-End 2022 Pro Forma Room Revenues of Over $1.58 Million

Investment Overview

Hotel Attributes: The Staybridge Suites Flowood – NW Jackson is an extended-stay, upscale hotel built in 2021. The Hotel features 60 spacious single-bed suites, 37 double-bed suites, and several amenities such as a fitness center, business center, indoor pool, and an outdoor seating area. Prime Location with Easy Access to Market Demand Generators: The Property is positioned just off Lakeland Drive, offering excellent visibility and accessibility to major demand generators in the vicinity. Leisure demand generators include Flowood Nature Park, Mississippi State Fairgrounds, The Jackson Zoo, Mississippi Museum of Art, and LeFleur’s Bluff Stat Park. Located within the Jackson metro, Flowood prospers from Mississippi’s largest city with its various attractions and position as a hub of business activity. Several universities in the area such as Jackson State University, Tougaloo College, Millsaps College, Belhaven University, University of Mississippi Medical Center, Mississippi College School of Law, and Hinds Community College all provide demand for rooms in area for events throughout the year. Jackson Mississippi RevPAR Growth: Over the trailing-twelve-month period, the Jackson market RevPAR has increased approximately 9.7 percent, illustrating signs of continued growth in the region. New Construction within High-Barrier-to-Entry Market: The subject Property is expected to achieved gross room revenues in excess of $1.58 million through the first twelve months of operations since completion of construction. Once stabilized, the subject Property is expected to be a leading property amongst the STR-defined comp set, with greater than 100 percent market RevPAR penetration. Fee-Simple Interest: The Hotel presents an opportunity to acquire a well-branded, midscale asset as a fee-simple.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

Financing By

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