2726 Monroe StTallahassee, FL 32303

Property Details for 2726 Monroe St

Year built

1985

Construction

WOOD

Lot size

1.10 AC

Property size (Sq ft)

10,402 SF

Property type

Hospitality properties

Property subtype

Motels

APN

21-14-20-423-000-0

APU

2114204230000

Description

Exceptional investment opportunity: A well-maintained 51-key Howard Johnson hotel in Tallahassee, Florida. This established property boasts 21,198 square feet on a 1.1-acre lot (47,916 square feet), strategically located at 2726 N Monroe St, Tallahassee, FL 32303, in Leon County, zip code 32303. Built in 1985, the two-story hotel offers ample parking. The asking price is $3,500,000. This turnkey operation is situated in a high-growth area with strong surrounding demographics, featuring robust median and average household incomes within 1, 3, and 5-mile radii. The property is zoned CP. This presents a compelling financial opportunity for investors seeking a well-established hotel in a prime Tallahassee location. The property's size and location make it an attractive investment prospect. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,273,654

  6.5%

  $1,175,681

  7%

  $1,091,704

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,737,774

  Geo Method

  $1,737,774

• Alternative Use

  Use

  Valuation

  Residential

  $1,283,502

  Hospitality

  $1,175,681

  Educational

  $978,153

  Medical

  $1,011,793

  Retail

  $1,521,571

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4785

Longitude

-84.3013

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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