1417 Veterans Memorial Pkwy Tuscaloosa, AL 35404-4702

Property Details for 1417 Veterans Memorial Pkwy

Year built

2008

Lot size

0.83 lot acres

Property size

27,926 SF

Zone code

BH

Property type

Hotels

APN

30-09-30-1-004-009.000

APU

3009301004009000

Description

This 59-key Microtel Inn & Suites in Tuscaloosa, Alabama, presents a compelling value-add opportunity. Located at 1417 Veterans Memorial Parkway, this four-story, 27,926 square foot hotel boasts a prime location near the University of Alabama, Bryant-Denny Stadium, and the city's main retail corridor. Built in 2008 and extensively renovated in 2024, the property features updated bathrooms, flooring, and public spaces, including a business center and fitness center. The hotel benefits from a strong, consistent customer base driven by the university and its associated events, as well as the city's thriving retail sector. With 65 parking spaces and a recent roof renovation, the property is offered fee-simple, free of debt and management contracts. The asking price is $5,049,413.40, representing $180.81 per square foot and $85,583.28 per key. Current occupancy stands at 54.5%. The property's location on a high-traffic corridor ensures significant visibility and accessibility. This represents a below-replacement-cost acquisition with significant potential to increase revenue to market comparable levels. The property is zoned BH. Pre-scheduled site visits are required.