480 Al Henderson Blvd Savannah, GA 31419-6032

Property Details for 480 Al Henderson Blvd

Year built

2006

Lot size

1.00 lot acres

Property size

31,500 SF

Zone code

PUDC

Property type

Hotels

APN

1-1028 -01-069

APU

1102801069

Description

The Grand Savannah Hotel, a 40-key hospitality property located at 480 Al Henderson Blvd, Savannah, GA 31419, presents a compelling investment opportunity. Built in 2006 and extensively renovated in 2024, this three-story, one-building hotel sits on a one-acre lot and is poised to join a national franchise in Q4 2024. The recent renovations included a new roof (with warranty), fresh interior and exterior paint, all new mattresses and case goods, and updated furnishings and equipment. The property enjoys a prime location near diverse demand generators, including I-95, healthcare facilities, Savannah State University, and numerous tourist attractions. Potential guest types include leisure and business travelers, healthcare professionals, students, and groups attending events such as the Savannah Music Festival and St. Patrick's Day Parade. The hotel is approximately 12.9 miles from Savannah/Hilton Head International Airport and within a reasonable distance of other key attractions like Forsyth Park and the Savannah Historic District. Seller financing may be available, subject to approval. Projected Year 1 room revenue is $1,185,520, with a projected NOI of $485,693 and a 9.91% cap rate. The property includes amenities such as a fitness center and business center. While a change of ownership PIP is estimated at $25,000 (plus or minus), verification is required by the prospective franchise. This hotel offers a unique chance to acquire a well-positioned asset in Savannah's thriving hospitality market.

Location Insight

City

Savannah

County

Chatham

State

Georgia

Longitude

-81.2762

Latitude

32.0076

CBSA code

42340

CBSA name

SAVANNAH, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments