Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 2.39 acre, WoodSpring Suites Richmond Hill Landsite Development, located in Georgia. The land site is zoned and has a franchise agreement in place for a 122+/- WoodSpring Suites. The proposed opening date for the hotel is 2026. The site is strategically located off heavily trafficked US Highway-17, creating high visibility and accessibility to local and regional demand generators. Richmond Hill, which is included in the Savannah Metropolitan area, is situated just 22 miles outside of downtown, historic Savannah. Nearby attractions include Ford Field & River Club Golf Club, Coastal Georgia Botanical Gardens, Chatham County Wetlands Preserve, Oglethorpe Mall, Tanger Outlets, and Coastal Empire Fair Grounds. Georgia Southern University Armstrong, 7.9 miles away, is one of three campuses for Georgia Southern University and enrolls more than 5,000 students. Downtown Savannah is a coastal metro known for manicured public parks, horse-drawn carriages, and antebellum architecture. The historic city is extremely walkable and filled with plenty of restaurants, retail, entertainment, historic sites, and tourist attractions. Notable attractions include the Savannah College of Art & Design (SCAD), City Market, River Street, Forsyth Park, and multiple historic museums. Tourism is one of the leading economic drivers in Savannah in combination with the hospitality industry. With upward of 15+ Million day and overnight visitors, Savannah generates nearly $3.3 Billion from visitor spending alone. Room revenue from visitors has seen an increase over the years and is estimated to be at $36+ Million a year. Other major economic drivers in the area include Hunter Army Airfield and the Georgia Ports Authority. Located 21.4 miles away, Hunter Army Air?eld, part of U.S. Army Base Fort Stewart in Hinesville, is a 5,400-acre military installment home to more than 21,000 individuals. The airfield along with its counterpart Fort Stewart generates an annual economic impact of more than $4.9 Billion for the area. The Georgia Ports Authority, 25.5 miles away, is the largest and fastest growing port in the United States. The port significantly benefits from its direct access to two Class One railroads as well as Interstate-95and Interstate-16. Each year the port generates over $140 Billion in sales with support from its 560,000+ employees, making it one the largest employers in the state. With the nearby port, Savannah is heavily saturated with top distribution centers including IKEA, Target, Home Depot, Dollar Tree, and Pier 1. Additional corporate footprints in the area include Gulfstream Aerospace, and SheltAir. Savannah is serviced by a multitude of medical centers such as Memorial health University Medical Center, Candler Hospital, St. Joseph's Hospital, and Eisenhower Drive Medical Center. Traveling to the area is extremely easy with Savannah International Airport, located 19.6 miles away. The airport has been named the number one airport in the United States by Conde Nast for the past four consecutive years. An increase in passengers has been recorded over the years with nearly 4 million passengers having traveled through the airport in 2023.