1355 Apalachee Pkwy Tallahassee, FL 32301
- Hotels
- 75,003 SF
- 3.26 lot acres
Current Use by Public Records
- Wyndham Garden Tallahassee Capitol / Hotel / Inn
- hotel / Hotel
Property Details for 1355 Apalachee Pkwy
- Year built
- 1970
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 3.26 lot acres
- Property size
- 75,003 SF
- Property type
- Hotels
- APN
- 11-31-20-448-000-0
- APU
- 1131204480000
Description
This exceptional investment opportunity presents the leasehold interest in a 147-key Wyndham Garden hotel in Tallahassee, Florida. The four-story, 1969-built hotel boasts a prime location near the Florida State Capitol, Florida State University, and Tallahassee Memorial HealthCare. Its convenient proximity also includes the Park Avenue Historic District, Tallahassee Museum, and other key attractions, making it ideal for both business and leisure travelers. The hotel features amenities such as free daily breakfast, high-speed WiFi, and an outdoor pool. A significant value-add opportunity exists with 5,400 square feet of vacant restaurant space (formerly Applebee's) available for lease, presenting potential for increased net operating income. The property sits on a 2.92-acre lot and benefits from a high traffic count on Apalachee Parkway (32,500 vehicles). The hotel has demonstrated strong financial performance, with gross revenues exceeding $2.9 million in both 2022 and 2023. Premium brand rebranding options are also available for the property, further enhancing its investment potential. This is a concrete construction building with an interior corridor. The property is situated 1.9 miles from the Florida State Capitol, 2.4 miles from Florida State University, 1.6 miles from Tallahassee Memorial HealthCare, 2.3 miles from Florida A&M University, 1.9 miles from the Park Avenue Historic District, and 6.9 miles from the Tallahassee Museum. The property also has proximity to the Florida Supreme Court and Capital City Bank Group.
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
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.2602
- Latitude
- 30.4357
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
