5101 Messer Airport Hwy Birmingham, AL 35212-3030
- Office Properties & Spaces
- 5,261 SF
- 2.74 lot acres
Current Use by Public Records
- Budgetel Inn and Suites / Hotel
Property Details for 5101 Messer Airport Hwy
- Year built
- 1981
- Lot size
- 2.74 lot acres
- Property size
- 5,261 SF
- Zone code
- B2
- Property type
- Office Properties & Spaces
- APN
- 23-00-21-2-016-007.000
- APU
- 2300212016007000
Description
This exceptional 146-room, five-story extended-stay hotel in Birmingham, Alabama, presents a lucrative investment opportunity. Completely renovated in 2024, this turnkey property boasts new electrical, plumbing, mechanical systems, fire alarm, drywall, flooring, paint, and FF&E. Each room includes a brand-new kitchenette with a stovetop, refrigerator, sink, and microwave. Projected Year 1 revenues are $2,916,652, with a net income of $1,251,192, increasing to $3,408,301 and $1,514,296 respectively in Year 2. The property sits on 2.74 acres and includes three buildings, one of which features a large meeting room/ballroom with potential for conversion into a restaurant. Located just two minutes from Birmingham-Shuttlesworth International Airport (BHM) and with excellent access to Interstates 20 and 59, this hotel benefits from a high-growth area, ranked among the nation's fastest-growing cities for job and entrepreneurial growth. The property is unencumbered by brand, debt, or management, offering several franchise options with potential key money incentives, including Studio 6 (G6). The Certificate of Occupancy is expected in October/November 2024. The total capital expenditure for renovations was $4,538,000. The property is zoned for hospitality or multifamily apartments. Asking price: $10,500,000. Minimum 20% down payment required.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,420,000
- 6.5%
- $1,625,000
- 7%
- $1,520,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,710,000
- Geo Method
- $1,390,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,345,000
- Retail
- $1,265,000
- Mixed-Use
- $1,570,000
- Hospitality
- $1,260,000
- Educational
- $1,310,000
- Residential Income
- $1,605,000
- Energy
- $1,275,000
- Income-Based Land
- $1,225,000
- Food Service
- $1,240,000
Location Insight
- Map
- Local Demand
- City
- Birmingham
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.7599
- Latitude
- 33.542
- CBSA code
- 13820
- CBSA name
- BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
