538 Bonita Lakes Dr Meridian, MS 39301
- Hospitality properties
- 1.36 lot acres
Current Use by Public Records
- Meridian Living / Assisted Living Facility
Property Details for 538 Bonita Lakes Dr
- Year built
- 2008
- Lot size
- 1.36 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 62-room property, built in 2008 and situated on 1.36 acres in Meridian, Mississippi, presents a unique investment opportunity. Currently operating as a highly successful, fully renovated assisted living facility (awarded "Best of Senior Care" twice by a leading third-party service), this three-story building offers a straightforward conversion back to a hotel. Its strategic location near I-20/I-59, Bonita Lakes Mall, and major healthcare facilities (Anderson Regional Medical Center and Rush Foundation Hospital) ensures high visibility and accessibility. The property benefits from proximity to significant employers, including the City of Meridian, Meridian Public School District, East Mississippi State Hospital, and two military installations (Naval Air Station Meridian and Key Field), employing over 5,000 people. The strong tourism sector in Meridian, with high hotel occupancy rates and projected growth, further enhances the investment potential. The existing infrastructure, including a newly constructed commercial kitchen and community room, provides a solid foundation for a seamless transition. Several upper-midscale hotel franchises offer key money incentives for conversion, making this a compelling opportunity for investors seeking a high-return asset in a thriving market. The property's versatility, strong location appeal, and steady demand make it an attractive option for both hotel conversion and continued operation as a senior care facility. Downtown Meridian's cultural attractions, such as the MSU Riley Center and the Meridian Museum of Art, are also within easy reach, adding to the property's appeal. This turnkey opportunity combines the benefits of a proven, successful business model with the potential for significant upside through hotel conversion.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Meridian
- County
- Lauderdale
- State
- Mississippi
- Longitude
- -88.6729
- Latitude
- 32.3621
