Current Use by Public Records
- ATM / Atm
- Back Porch Lounge / Bar & Pub
- Best Western Riverside Inn / Hotel & Motel
Property Details for 2400 Riverside Dr
- Year built
- 1972
- Lot size
- 4.16 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 115-key Best Western hotel presents a compelling investment opportunity in Macon, Georgia. Priced at $6,950,000, this fee-simple property boasts a strong 9.12% cap rate and a current NOI of $633,930 (as of a specified date). Situated on a 4.16-acre lot with 181 parking spaces, the property features two two-story buildings constructed in 1972 and zoned C4-Commercial Highway District. The hotel benefits from its location near the junction of Interstates 16 and 75, an area undergoing a $100 million improvement project expected to be completed in Fall 2024. Macon's designation as Georgia's most affordable city and its proximity to Atlanta (less than an hour away) contribute to its strong market position. The property includes a long-term, income-generating lease with a lounge operator and is an interior corridor facility in good condition, with many recent renovations. The current occupancy rate is 56.8% (as of September 30, 2024), offering significant upside potential. Seller financing may be available for qualified buyers. This Best Western franchise qualifies for an automatic transfer of agreement. The property's APN is P061-0161. The price per key is $60,434.78. This is a rare opportunity to acquire a well-maintained, income-producing hotel in a growing market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Macon
- County
- Bibb
- State
- Georgia
- Longitude
- -83.6592
- Latitude
- 32.8688
