316 Main St Statesboro, GA 30458
- Motels
- 26,171 SF
- 1.33 lot acres
Current Use by Public Records
- Red Roof Inn & Suites Statesboro - University / Motel / Hotel
Property Details for 316 Main St
- Year built
- 1991
- Lot size
- 1.33 lot acres
- Property size
- 26,171 SF
- Zone code
- HOC
- Property type
- Motels
- APN
- S30-025-000
- APU
- S30025000
Description
This exceptional 65-room hotel, located at 316 South Main St, Statesboro, GA, presents a lucrative investment opportunity. Situated just three miles from Statesboro University, this property benefits from a consistently strong demand. The Red Roof Inn has recently undergone significant renovations, including a brand-new roof boasting a 15-year warranty. Fifteen guest rooms have been upgraded to feature modern standing showers, enhancing the guest experience. The hotel comprises 65 rooms in total, including 10 suites and 2 rooms dedicated to housekeeping staff. This well-maintained property generates a substantial gross annual revenue of $870,000, achieving an impressive Average Daily Rate (ADR) of $65 and maintaining an occupancy rate consistently between 60% and 65%. The property sits on a sizable 1.33-acre lot, offering ample space and potential for future expansion or development. The asking price is $4,000,000 and is negotiable. Pre-approved private financing options are available for qualified buyers. Showings are strictly by appointment only, and the hotel is currently fully operational with existing staff in place. This is a turnkey operation ready for a new owner to step in and continue its success.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,745,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,950,000
- 6.5%
- $1,620,000
- 7%
- $1,690,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,535,000
- Geo Method
- $1,660,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,500,000
- Retail
- $1,695,000
- Mixed-Use
- $1,975,000
- Hospitality
- $1,550,000
- Educational
- $1,985,000
- Residential Income
- $1,560,000
- Energy
- $1,595,000
- Income-Based Land
- $1,615,000
- Food Service
- $1,515,000
Location Insight
- Map
- Local Demand
- City
- Statesboro
- County
- Bulloch
- State
- Georgia
- Longitude
- -81.7837
- Latitude
- 32.4412
- CBSA code
- 44340
- CBSA name
- STATESBORO, GA MICROPOLITAN STATISTICAL AREA
