Current Use by Public Records
- Hospitality properties
Property Details for 701 St Francis St
- Year built
- 1998
- Lot size
- 1.94 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This 77-key hotel in Mobile, AL, offers a compelling investment opportunity. Built in 1998 and featuring 44,360 square feet across three stories, this property sits on a 1.94-acre lot (APN: 32-09-37-0-002-001.082) at 701 St Francis St, Mobile, AL 36602. The hotel boasts a current Net Operating Income (NOI) of $528,457, with an asking price of $8,000,000, resulting in a 6.05% capitalization rate. The current occupancy rate is 51.03%. A significant property improvement plan (PIP) was completed in 2024. While the occupancy rate is currently below the market average, the hotel's average daily rate (ADR) of $101.99 presents significant upside potential compared to the market average of $128.89. Strategic adjustments to pricing, marketing, and guest experience could substantially improve revenue per available room (RevPAR) and occupancy. The seller is open to considering seller financing with 30% to 35% down payment for a three-year term, offering a potentially attractive acquisition strategy. The Mobile MSA benefits from significant ongoing infrastructure projects, including a billion-dollar bridge project, and a strong employment base anchored by major employers such as Infirmary Health, Collins Aerospace, and the Baldwin County Board of Education. This presents a unique chance to acquire a well-located hotel with substantial growth potential in a dynamic market.
Value Estimations
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AI approach
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.0518
- Latitude
- 30.6894
