1417 Veterans Memorial Pky - Hospitality FOR SALE


Tuscaloosa, AL 35404
$5,049,413 USD
334-313-6014
1417 Veterans Memorial Pky, Tuscaloosa, AL for Sale
$5,049,413 USD
Hospitality - FOR SALE
1/23
null | Request Cap Rate

1417 Veterans Memorial Pky
Tuscaloosa, AL 35404


HIGHLIGHTS

  • Offering includes established interior hotel & operations of a 59-key Microtel Inn & Suites located in Tuscaloosa, AL.
  • Fee - simple real estate and building is unencumbered of debt or management contracts.
  • Minutes from high traffic retail and demand drivers such as the University of Alabama, DCH Regional Medical Center, and Mercedes Benz Amphitheatre.
  • The property benefits from significant daily traffic counts equating to ~108,247 vehicles per day (VPH).
  • Asset is currently undergoing significant interior/exterior renovations which will be delivered with work completed.
  • Property is indexing at 88% of competitive set's ADR and RevPar presenting a value-add opportunity to enhance property performance.

OVERVIEW

Connolly Investments, as sole and exclusive representative of the Seller, is pleased to present for sale the Microtel Inn & Suites located at 1417 Veterans Memorial Parkway in Tuscaloosa, AL. This offering features a recently renovated 59-key hotel with fee-simple real estate, free of debt or management contracts. The property is fully operational with an established franchise term and is strategically positioned in a high-traffic area near key demand generators such as the University of Alabama campus, Bryant-Denny Stadium, and the main retail corridor of town. With an interior and exterior property renovation nearing completion, this opportunity allows a new buyer to acquire the property with minimal additional capital expenditure requirements, while offering the potential to increase revenue to market comparable levels. The hotel benefits from its proximity to major attractions and institutions, including the University of Alabama, ensuring a steady flow of business and leisure guests. With its prime location and recent renovations, the Microtel Inn & Suites in Tuscaloosa presents an attractive investment opportunity in a vibrant market. Please note that all site visits and tours must be pre-scheduled and approved to avoid disruption to employees and customers. *updated photos to be provided upon completion of renovation In association with Scott Reid & ParaSell, Inc., a licensed Alabama Broker #000127148-0.

FOR SALE DETAILS

PRICE

$5,049,413 USD

PRICE/SF

$211 USD /SF

# OF ROOMS

59

PRICE/ROOM

$85,583 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Microtel Inn & Suites by Wyndham Tuscaloosa

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

2008

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

BH

APN/PARCEL ID

30-09-30-1-004-009.000

ASK ABOUT THIS PROPERTY

Katherine DockeryConnolly InvestmentsMore Info
334-313-6014

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Katherine DockeryConnolly InvestmentsMore Info
334-313-6014

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.