Hotel-Motel

Rodeway Inn I-95 Miami

148 NW 167th St, Miami, FL 33169

Listing Price: $15,500,000

Cap Rate
5.30%
Number of Rooms
168
Gross SF
82,605
Price/Room
$92,262
Price/Gross SF
$187.64
Year Built
1971

Investment Overview

Marcus and Millichap, Kabani Hotel Group, is pleased to present the Rodeway Inn I-95. This former Holiday Inn (now Rodeway Inn) features six stories (interior corridor), 168 keys, a pool, a kitchen/dining room and rests on a lot area of 1.44 acres. The Rodeway Inn is located in the heart of North Miami right off of I-95/Florida Turnpike and surrounded by a number of demand drivers such as; Sunshine State Industrial warehouse park, Jackson Medical Group Hospital, Planned Parenthood facility, and Hard Rock Stadium. Given the number of demand drivers in the area and the limited supply of hotels, a new operator would be in a perfect position to market this hotel to a stable customer base of truckers/industrial warehouse workers, hospital employees/visiting family members of patients in addition to many others. With a highly utilized ease of access along major expressways, both extended use and transient groups have become key in maintaining a high level of occupancy and providing stable cash flow to the property. The Rodeway Inn is a fairly priced asset that benefits from being positioned in an area with great supply demand dynamics as well as a stable customer base of primarily essential workers. This asset is a prime example of a type of hotel that can be both resilient during this pandemic and outperform its competitive set in occupancy.Operationally, the hotel has achieved a gross revenue of $2,533,687 Year to Date in 2020, but has tremendous potential upside as revenues have exceeded over $4,000,000 in 2018.

Investment Highlights

  • 168 keys
  • Located in the heart of North Miami right off of I-95/Florida Turnpike
  • Revenues have exceeded over $4,000,000 in 2018.

Exclusively Listed By

Hotel-Motel

Rodeway Inn I-95 Miami

Listing Price: $15,500,000

Cap Rate
5.30%
Number of Rooms
168
Gross SF
82,605
Price/Room
$92,262
Price/Gross SF
$187.64
Year Built
1971

Investment Highlights

  • 168 keys
  • Located in the heart of North Miami right off of I-95/Florida Turnpike
  • Revenues have exceeded over $4,000,000 in 2018.

Investment Overview

Marcus and Millichap, Kabani Hotel Group, is pleased to present the Rodeway Inn I-95. This former Holiday Inn (now Rodeway Inn) features six stories (interior corridor), 168 keys, a pool, a kitchen/dining room and rests on a lot area of 1.44 acres. The Rodeway Inn is located in the heart of North Miami right off of I-95/Florida Turnpike and surrounded by a number of demand drivers such as; Sunshine State Industrial warehouse park, Jackson Medical Group Hospital, Planned Parenthood facility, and Hard Rock Stadium. Given the number of demand drivers in the area and the limited supply of hotels, a new operator would be in a perfect position to market this hotel to a stable customer base of truckers/industrial warehouse workers, hospital employees/visiting family members of patients in addition to many others. With a highly utilized ease of access along major expressways, both extended use and transient groups have become key in maintaining a high level of occupancy and providing stable cash flow to the property. The Rodeway Inn is a fairly priced asset that benefits from being positioned in an area with great supply demand dynamics as well as a stable customer base of primarily essential workers. This asset is a prime example of a type of hotel that can be both resilient during this pandemic and outperform its competitive set in occupancy.Operationally, the hotel has achieved a gross revenue of $2,533,687 Year to Date in 2020, but has tremendous potential upside as revenues have exceeded over $4,000,000 in 2018.

Exclusively Listed By

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