Hotel-Motel

Comfort Inn & Suites Santee

221 Britain St, Santee, SC 29142

Listing Price: $4,400,000

Cap Rate
8.44%
Number of Rooms
61
RevPAR
$63
Gross SF
63,786
Price/Room
$72,131
RRM
3.17
Price/Gross SF
$68.98
Year Built
2000

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee-simple ownership of the 61 room Comfort Inn & Suites Santee. The subject property is located directly off Interstate-95, exit #98 in Santee, South Carolina. The hotel has great access and proximity to Lake Marion, the largest lake in South Carolina. The property has recently undergone a significant renovation and is expected to have an estimated change of ownership PIP of $250,000. The subject property has a strong historical revenues and favorable cash flows in place. The Comfort Inns revenue decreased slightly in 2018 due to the renovation and extensive work in the guest bathrooms.

Guest rooms include cable TV, HBO, coffeemakers, hairdryers, irons and ironing boards. Larger suites also include refrigerators and microwaves. The property boasts a well-appointed dining room with a large breakfast bar area. Other guest amenities include a guest laundry facilities. fitness center. business center with high speed Internet access and a seasonal outdoor pool. Santee is located in central South Carolina near Lake Marion Golf Course, two miles from Santee State Park and 1/2 mile to Lake Marion.

Orangeburg County is the second largest South Carolina County by area and has the second most highway miles. The county's mild climate, quality of life amenities, and recreational opportunities make it an attractive place to visit. The county has six interchanges on I-26 and five on I-95, and I-20 is just 41 miles north. Manufacturing, retail trade, and transportation & warehousing are among the top industries in the county. Orangeburg County has seen significant retail and industrial growth. Existing industries range from electronics and riding lawn mowers to food distribution and chemicals. In the last six years, the county has had record industrial growth, which has helped to create over 5,000 new manufacturing jobs.

The county's largest employer is Husqvarna which employs more than 2,000 people in the manufacturing of riding lawn tractors. Other large employers include Koyo Corporation which manufactures ball bearings and employs 530; Sara Lee Bakery employing 536; North American Container Corporation which employs 400 people in the manufacturing of bulk shipping containers; and Zeus Industrial Products, makers of Teflon tubing and employing 450. Over the past five years, Orangeburg County has enjoyed more than 170 expansions or new industry locations. During that five-year period, those companies invested more than $625 million and created nearly 3,400 jobs.

Investment Highlights

  • Fee simple interest in the three-story, 61-unit, Comfort Inn & Suites
  • Extremely well-maintained property recently renovated and offered with a minimal PIP
  • Located directly off Interstate 95 in the heart of Santee
  • Offered below replacement costs with the ability to retain the current franchise
  • Strategically located with ease of access for both business and leisure travelers

Exclusively Listed By

Hotel-Motel

Comfort Inn & Suites Santee

Listing Price: $4,400,000

Cap Rate
8.44%
Number of Rooms
61
RevPAR
$63
Gross SF
63,786
Price/Room
$72,131
RRM
3.17
Price/Gross SF
$68.98
Year Built
2000

Investment Highlights

  • Fee simple interest in the three-story, 61-unit, Comfort Inn & Suites
  • Extremely well-maintained property recently renovated and offered with a minimal PIP
  • Located directly off Interstate 95 in the heart of Santee
  • Offered below replacement costs with the ability to retain the current franchise
  • Strategically located with ease of access for both business and leisure travelers

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee-simple ownership of the 61 room Comfort Inn & Suites Santee. The subject property is located directly off Interstate-95, exit #98 in Santee, South Carolina. The hotel has great access and proximity to Lake Marion, the largest lake in South Carolina. The property has recently undergone a significant renovation and is expected to have an estimated change of ownership PIP of $250,000. The subject property has a strong historical revenues and favorable cash flows in place. The Comfort Inns revenue decreased slightly in 2018 due to the renovation and extensive work in the guest bathrooms.

Guest rooms include cable TV, HBO, coffeemakers, hairdryers, irons and ironing boards. Larger suites also include refrigerators and microwaves. The property boasts a well-appointed dining room with a large breakfast bar area. Other guest amenities include a guest laundry facilities. fitness center. business center with high speed Internet access and a seasonal outdoor pool. Santee is located in central South Carolina near Lake Marion Golf Course, two miles from Santee State Park and 1/2 mile to Lake Marion.

Orangeburg County is the second largest South Carolina County by area and has the second most highway miles. The county's mild climate, quality of life amenities, and recreational opportunities make it an attractive place to visit. The county has six interchanges on I-26 and five on I-95, and I-20 is just 41 miles north. Manufacturing, retail trade, and transportation & warehousing are among the top industries in the county. Orangeburg County has seen significant retail and industrial growth. Existing industries range from electronics and riding lawn mowers to food distribution and chemicals. In the last six years, the county has had record industrial growth, which has helped to create over 5,000 new manufacturing jobs.

The county's largest employer is Husqvarna which employs more than 2,000 people in the manufacturing of riding lawn tractors. Other large employers include Koyo Corporation which manufactures ball bearings and employs 530; Sara Lee Bakery employing 536; North American Container Corporation which employs 400 people in the manufacturing of bulk shipping containers; and Zeus Industrial Products, makers of Teflon tubing and employing 450. Over the past five years, Orangeburg County has enjoyed more than 170 expansions or new industry locations. During that five-year period, those companies invested more than $625 million and created nearly 3,400 jobs.

Exclusively Listed By

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