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    2690 Riverside Dr Macon, GA 31204

    Sponsored
    For Sale
    $2,400,000

    112-Key Hotel, Updated Amenities

    Property size:
    43,808 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This fee-simple, 112-key hotel in Macon, Georgia presents a compelling value-add investment opportunity. The property, situated on a 2.37-acre lot at 2690 Riverside Dr, Macon, GA 31204 (APN: 0054-0140), boasts 43,808 square feet across three, three-story buildings. Built in 1987 and extensively renovated between 2018 and 2022, the Red Carpet Inn features updated amenities including exterior lighting, signage, a new computer system, fresh carpeting, new locks, furniture, lamps, flat-screen TVs, mattresses, microwaves, refrigerators, and PTAC units. Interior and exterior paint is also new. Guest amenities include a complimentary breakfast, guest laundry, vending machines, a courtyard pool, and a large conference room. The property currently operates with 112 guest rooms plus eight additional rooms used as three manager apartments, totaling 120 rooms. The franchise agreement has been recently renewed for an additional five years. The hotel benefits from a convenient location off I-75, exit 167, in Northwest Macon, placing it within easy reach of major demand generators. Macon's strategic location as "The Heart of Georgia," midway between Atlanta and Savannah, and its proximity to three interstate highways (I-75, I-16, and I-475), and Atlanta's Hartsfield-Jackson International Airport (75 miles north), further enhances its appeal. The property is zoned C4 and is offered at $2,400,000 ($54.78/sq ft, $21,428.57/key). The hotel shows upward trending revenue.

    Property Features for 2690 Riverside Dr

    General Information

    Property type
    Hotels
    Square Feet
    43,808 SF
    Lot Size
    103,237 SF

    Building Details

    Year Built/Renovated
    1987/2022
    Buildings
    3
    Stories
    3

    HighLights

    • Strong revenue growth.
    • 120 total rooms (112 guest rooms + 8).
    • Eight rooms currently used as three employee apartments.
    • Interior corridor design.
    • Conveniently located off I‑75 Exit 167 in Northwest Macon.
    • 75 miles south of Atlanta.
    Property Profile Location Intelligence

    Current Use by Public Records

    Red Carpet Inn ... Hotel Red Carpet Inn Hotel

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.66469122
    Latitude
    32.87529861

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    FAQs

    What type of property is this?
    Hotel - 112-Key Hotel, Updated Amenities
    Where is this hotel located?
    The property is located at 2690 Riverside Dr Macon, GA.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Strong revenue growth.; 120 total rooms (112 guest rooms + 8).; Eight rooms currently used as three employee apartments.
    Request Owner's contact information
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    Macon, GA 31204
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2690 Riverside Dr Macon, GA 31204
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