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Hotel-Motel

Econo Lodge Perry + Vacant Retail Building and +/- 1.6-Acre Development Site

2220 US-19, Perry, FL 32348

Listing Price: $2,700,000

Cap Rate
12.24%
Number of Rooms
61
Gross SF
18,768
Price/Room
$44,262
Price/Gross SF
$143.86
Year Built
1970

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 61-room Econo Lodge located in Perry, Florida. The property is a two-story hotel located directly off of U.S. Highways 27 and 98, the area's two major thoroughfares. Perry is roughly the midway point between the cities of Tallahassee (the Florida state capital and the home of Florida State University and Florida A&M University) and Gainesville (the home of the University of Florida). The hotel benefits from being located in close proximity to a variety of diverse demand generators including: Weather Perry - Foley Airport, Doctors' Memorial Hospital, and the Georgia Pacific Foley Plant, amongst others. In addition to the hotel, the property also contains approximately 1,400 square feet of leasable retail space as well as a +/- 1.6-acre development site. The Econo Lodge offers investors the opportunity to acquire a value-add, easily-manageable hotel, which includes approximately 1,400 square feet of leasable retail space and a +/- 1.6-acre development site.

Investment Highlights

  • Minimal Property Renovation Costs Expected for A New Owner
  • Includes Approximately 1,400 Square-Foot Vacant Retail Building Located on the Western Portion of the Property along U.S. Highways 98 and 27
  • Includes an Additional +/- 1.6-Acre Vacant Parcel Which Can be Used for Hotel Development, Truck Parking, and Commercial Recreational Facilities, Among Other Uses

Exclusively Listed By

Hotel-Motel

Econo Lodge Perry + Vacant Retail Building and +/- 1.6-Acre Development Site

Listing Price: $2,700,000

Cap Rate
12.24%
Number of Rooms
61
Gross SF
18,768
Price/Room
$44,262
Price/Gross SF
$143.86
Year Built
1970

Investment Highlights

  • Minimal Property Renovation Costs Expected for A New Owner
  • Includes Approximately 1,400 Square-Foot Vacant Retail Building Located on the Western Portion of the Property along U.S. Highways 98 and 27
  • Includes an Additional +/- 1.6-Acre Vacant Parcel Which Can be Used for Hotel Development, Truck Parking, and Commercial Recreational Facilities, Among Other Uses

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 61-room Econo Lodge located in Perry, Florida. The property is a two-story hotel located directly off of U.S. Highways 27 and 98, the area's two major thoroughfares. Perry is roughly the midway point between the cities of Tallahassee (the Florida state capital and the home of Florida State University and Florida A&M University) and Gainesville (the home of the University of Florida). The hotel benefits from being located in close proximity to a variety of diverse demand generators including: Weather Perry - Foley Airport, Doctors' Memorial Hospital, and the Georgia Pacific Foley Plant, amongst others. In addition to the hotel, the property also contains approximately 1,400 square feet of leasable retail space as well as a +/- 1.6-acre development site. The Econo Lodge offers investors the opportunity to acquire a value-add, easily-manageable hotel, which includes approximately 1,400 square feet of leasable retail space and a +/- 1.6-acre development site.

Exclusively Listed By

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