Hotel-Motel

Best Western Starke

1290 N Temple Ave, Starke, FL 32091

Listing Price: Request For Offer

Number of Rooms
51
Gross SF
15,040
Year Built
1979

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 51-room Best Western located in Starke, Florida. The property is a two-story hotel located directly off U.S. Highway 301, the major thoroughfare of Starke. The property is also the midway point between Jacksonville, Florida and Gainesville, Florida and is located within close proximity to multiple other large cities in Florida including: St. Augustine, Ocala and Lake City, among others. The Best Western benefits from being within close proximity to a variety of demand generators such as Camp Blanding (A large military installation that serves as the training base for the Florida National Guard) and Florida State Prison (The largest prison in the state with over 1,400 inmates). The Best Western offers investors the opportunity to acquire a market-leading hotel with zero expected Property Improvement Plan (PIP) costs.

Investment Highlights

  • Recently Renovated Property
  • Zero Property Improvement Plan (PIP) Costs Expected Upon Change of Ownership
  • Operations Proven to be Efficient, Achieving An Average Net Operating Income Margin of 33.7 Percent Since 2017
  • Property has been Out-Performing its Competitive Set in RevPAR over the Past Three Years, Boasting an Average Annual RevPAR Penetration Index of 149.8 Percent
  • Generational Asset; 40-Year Owned Property. Owner has Owned The Property Since 1980 And Has Been Operating as A Best Western Ever Since

Exclusively Listed By

Listing Price: Request For Offer

Number of Rooms
51
Gross SF
15,040
Year Built
1979

Investment Highlights

  • Recently Renovated Property
  • Zero Property Improvement Plan (PIP) Costs Expected Upon Change of Ownership
  • Operations Proven to be Efficient, Achieving An Average Net Operating Income Margin of 33.7 Percent Since 2017
  • Property has been Out-Performing its Competitive Set in RevPAR over the Past Three Years, Boasting an Average Annual RevPAR Penetration Index of 149.8 Percent
  • Generational Asset; 40-Year Owned Property. Owner has Owned The Property Since 1980 And Has Been Operating as A Best Western Ever Since

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 51-room Best Western located in Starke, Florida. The property is a two-story hotel located directly off U.S. Highway 301, the major thoroughfare of Starke. The property is also the midway point between Jacksonville, Florida and Gainesville, Florida and is located within close proximity to multiple other large cities in Florida including: St. Augustine, Ocala and Lake City, among others. The Best Western benefits from being within close proximity to a variety of demand generators such as Camp Blanding (A large military installation that serves as the training base for the Florida National Guard) and Florida State Prison (The largest prison in the state with over 1,400 inmates). The Best Western offers investors the opportunity to acquire a market-leading hotel with zero expected Property Improvement Plan (PIP) costs.

Exclusively Listed By

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