316 Main St, Statesboro, GA 30458-0714
- Motels
- 26,171 SF
- 1.33 lot acres
Current Use by Public Records
- Red Roof Inn & Suites Statesboro - University / Hotel & Motel
Property Details for 316 Main St
- Year built
- 1991
- Lot size
- 1.33 lot acres
- Zone code
- HOC
- Property type
- Motels
- APN
- S30-025-000
- APU
- S30025000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 4, 2021 | $1,800,000 | Kapilkirti LLC | Budget Inn Of Cochran LLC | Warranty Deed | $1.3M · State Bank Of Cochran |
| Jun 1, 2016 | $1,305,100 | Budget Inn Of Cochran LLC | Jay Shree Ganesh LLC | Warranty Deed | $119k · State Bk/cochran |
| May 9, 2008 | $1,053,000 | Jay Shree Ganesh | Not Provided | Deed | — |
| Aug 24, 2007 | — | Jay Shree Ganesh | Not Provided | Deed | — |
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 Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,745,000
- ML approach
- $1,895,000
-
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $2,970,000
- COMMERCIAL (GENERAL)
- $2,765,000
- OFFICE BUILDING
- $2,750,000
- RETAIL STORES
- $2,015,000
- MEDICAL BUILDING
- $1,920,000
- APARTMENT HOUSE (5+ UNITS)
- $1,590,000
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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
