2690 Riverside Dr, Macon, GA 31204-1456
- Hotels
- 43,912 SF
- 2.37 lot acres
Current Use by Public Records
- Red Carpet Inn Macon Riverside Dr / Hotel & Motel
- Red Carpet Inn / Hotel & Motel
Property Details for 2690 Riverside Dr
- Year built
- 1987
- Lot size
- 2.37 lot acres
- Zone code
- C-4
- Property type
- Hotels
- APN
- O054-0140
- APU
- O0540140
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 27, 2018 | — | Mishi Hospitality LLC | — | Deed · related | $1.1M · Pacific City Bank |
| Feb 19, 2014 | — | Hr Hotels II LLC | — | Trustees Deed · related | $3.1M · Bloomfield Capital Income Fund |
| Jul 29, 2013 | — | Hr Hotels II LLC | Quantum Natl Bk | Quit Claim Deed · related | — |
| Jan 28, 2013 | $750,000 | Hr Hotels II LLC | H Hotel Group LLC | Trustees Deed | $801k · Fnb South |
| Dec 24, 2012 | $750,000 | Hr Hotels II LLC | Fnb,south | Grant Deed | — |
| Nov 1, 2010 | $1,400,000 | H Hotel Group LLC | Fnb South | Grant Deed | $1.4M · Fnb South |
| Oct 25, 2010 | $1,400,000 | H Hotel Grp LLC | Fnb,south | Grant Deed | — |
| Mar 5, 2010 | $1,400,000 | Fnb South | Smn LLC | Trustees Deed | — |
| Jan 5, 2010 | $1,400,000 | South Fnb | Smn LLC | Grant Deed | — |
| — | — | Hr Hotels II LLC | — | Deed Of Trust · related | $3.1M · Capital Bloomfield |
| — | — | Hr Hotels II LLC | — | Deed Of Trust · related | $801k · Fnb South |
| — | — | Smn LLC | — | Loan Modification · related | $350k · Haven Trust Bank |
| — | — | Hr Hotels II LLC | — | Deed Of Trust · related | $863k · Quantum National Bank |
Description
This fee-simple, 112-key hotel in Macon, Georgia presents a compelling value-add investment opportunity. The property, situated on a 2.37-acre lot at 2690 Riverside Dr, Macon, GA 31204 (APN: 0054-0140), boasts 43,808 square feet across three, three-story buildings. Built in 1987 and extensively renovated between 2018 and 2022, the Red Carpet Inn features updated amenities including exterior lighting, signage, a new computer system, fresh carpeting, new locks, furniture, lamps, flat-screen TVs, mattresses, microwaves, refrigerators, and PTAC units. Interior and exterior paint is also new. Guest amenities include a complimentary breakfast, guest laundry, vending machines, a courtyard pool, and a large conference room. The property currently operates with 112 guest rooms plus eight additional rooms used as three manager apartments, totaling 120 rooms. The franchise agreement has been recently renewed for an additional five years. The hotel benefits from a convenient location off I-75, exit 167, in Northwest Macon, placing it within easy reach of major demand generators. Macon's strategic location as "The Heart of Georgia," midway between Atlanta and Savannah, and its proximity to three interstate highways (I-75, I-16, and I-475), and Atlanta's Hartsfield-Jackson International Airport (75 miles north), further enhances its appeal. The property is zoned C4 and is offered at $2,400,000 ($54.78/sq ft, $21,428.57/key). The hotel shows upward trending revenue.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,547,000
Market price range: $1.84M - $4.06M -
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $3,505,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $3,670,000 Change: +5% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $3,435,000 Change: -2% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $3,330,000 Change: -5% Conversion: Difficult
- RETAIL STORES
- $3,080,000 Change: -12% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $3,070,000 Change: -12% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Macon
- County
- Bibb
- State
- Georgia
- Longitude
- -83.6654
- Latitude
- 32.8751
- CBSA code
- 31420
- CBSA name
- MACON, GA METROPOLITAN STATISTICAL AREA
