2949 Varsity St - Hospitality FOR SALE


Baton Rouge, LA 70807- Scotlandville
$3,300,000 USD
713-955-0012
2949 Varsity St, Baton Rouge, LA for Sale
$3,300,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

2949 Varsity St
Baton Rouge, LA 70807
Scotlandville


HIGHLIGHTS

  • Lender Authorized Short - Sale with highly motived seller
  • 2000 built, 77-Room Interior Corridor Recently Converted Sonesta Essential
  • Located less than half a mile from the Baton Rouge Airport Departures Terminal
  • Proximate to Louisiana State University (LSU) - one of the largest universities in the region and generates consistent room-night demand.
  • Minimal PIP expected: The property underwent select renovations in 2024 as part of its conversion.
  • 39 companies have invested over $10 billion in relocations & expansions in the market since 2020, creating 3,900 new jobs.

OVERVIEW

For more information, please visit the HVS marketing website to electronically execute the confidentiality agreement and get access to the Virtual Deal Room (VDR): https://brokerage.hvs.com/listing/?id=152596 HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 77-key Sonesta Essential Hotel Baton Rouge Airport, a limited-service hotel asset in Baton Rouge, Louisiana. A more hands-on owner/operator will have the opportunity to acquire a recently converted hotel in good physical condition, with upside to restructure the hotel’s operations by improving revenues and increasing net operating income (NOI) flow-through. CALL-FOR-OFFER DATE: THURSDAY, MAY 8, 2025, BY 5:00 PM CDT?????????????? Interested and qualified investors are required to perform due diligence prior to submitting their offer, including the financial analysis and due-diligence review in the virtual deal room (VDR). All purchasers are strongly encouraged to tour the property prior to bid submission. After the initial offer deadline, the top purchasers will be invited to submit a second offer in a best-and-final round. All offers will be evaluated and either accepted or rejected at the discretion of the seller and lender.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$81 USD /SF

# OF ROOMS

77

PRICE/ROOM

$42,857 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sonesta Essential Baton Rouge

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2000

PARKING SPACES

76

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

M1

APN/PARCEL ID

30850505,30852304

ASK ABOUT THIS PROPERTY

713-955-0012

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713-955-0012

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