Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Southern Wind Inn (‘Hotel’ or ‘Property’) located in St. Augustine, Florida. The independent Hotel is offered at $2,800,000 or $280,000 per key. The Southern Wind Inn is located at 18 Cordova St in St. Augustine, Florida, just off State Highway 90. A turn-of-the century bed & breakfast hotel, the Property was constructed in 1900 with locally sourced coquina masonry. Recently renovated to exceed guest standards, each of the Property’s unique rooms are named according to its theme and elegantly outfitted with period furnishings. St. Augustine, Florida, is renowned as the nation's oldest city, with a rich history and a plethora of attractions. Visitors will find themselves conveniently located just a block away from the visitor center and a large parking garage. The city offers a range of exciting activities, including touring the historic area with the Old Town Trolley, exploring the maritime history at the St. Augustine Shipwreck Museum, and experiencing the unusual at Ripley's Believe It or Not. For those seeking a leisurely experience, there's the option of taking a scenic cruise along the picturesque coastline or delving into art and culture at the Lightner Museum. History buffs can explore the heritage of Fort Matanzas and Castillio de San Marcos, two iconic Spanish forts. Automobile enthusiasts can indulge in classic cars at the Classic Car Museum, while golf enthusiasts can visit the World Golf Hall of Fame. St. Augustine offers a charming way to explore its streets, with options like horse and carriage rides, pedi-cabs, and golf cart tours, ensuring that visitors can soak in the city's history and beauty while enjoying a range of attractions and transportation choices. In the trailing twelve-month period ending in December 2022, the limited-service Hotel recorded room revenues of over $447,000 and a net operating income just over $175,000, or 39.3 percent as a percentage of total revenues. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, not only benefiting from increased market share but also higher NOI flow-through.