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Apr 1, 2019 — Seller has requested that we do not disclose the property address or brand until we obtain proof of funds. Please send us proof of funds for at least $1M in order for us to share additional information and the address with you.
Located off the interstate I-75; the Georgia-Florida corridor.
Total Yearly Revenue for 2018: $1.8 Million
Asking price: $7.9 Million
Cap Rate: 10.3%
Cap Rate with Management Company: 9.39%
Occupancy rate: 76.22%
Seller runs a management company that operates all major brands (Hilton, Wyndham, Choice, and Marriott). He is willing to operate the property for an absentee-owner. Even after paying the management company, an absentee investor can still make a 9.16% cap rate. Seller is a developer and looking to invest the proceeds toward other construction opportunities.
4-story interior corridor beautiful construction. Built in July of 2016. Amenities include a fitness room, Business center, huge lobby, and breakfast area; large exterior pool, and a large meeting room which includes a projection screen.
A must-see property if you are serious about buying!