Suburban Extended Stay Hotel - JWB Realty

Suburban Extended Stay Hotel - JWB Realty

 Suburban Extended Stay Hotel
3910 Central Pike
Nashville, Tennessee
127 Room Interior Corridor Extended Stay Hotel
Price $4,950,000
Exclusively Presented By: J. William Butler Kristy B. Denbow JWB Realty Services, LLC 3400 Rivergreen Court Suite 500 Duluth, GA 30096 Phone: 770.622.3050 www.jwbrealty.com
NO VISITS TO THE PROPERTY ARE ALLOWED WITHOUT A REPRESENTATATIVE OF JWB REALTY.
All information herein has been obtained from a source deemed reliable. JWB Realty Services, LLC has no reason to doubt its
accuracy, however, we do not guarantee it. JWB Realty is acting agent for, and is being compensated by the owner of the property,
and is not acting as agent for the prospective buyer.
Suburban Extended Stay Hotel
Driving Map
Suburban Extended Stay Hotel
3910 Central Pike
Nashville, Tennesee
Five Year Comparison
2004, 2005, 2006, 2007, Budget 2008
2004
2005
2006
2007
Budget 2008
Revenues:
Total Revenues
$
749,882
$
771,728
$
931,504
$
978,244
$ 1,053,913
Operating Expenses:
Salaries, Taxes, Benefits
Security
Direct Room Expenses
R & M*
Sales & Advertising**
Utilities
A&G
Management Fee @ 5%
Total Operating Expenses
$
$
$
$
$
$
$
$
$
224,745
376
55,272
18,504
18,423
76,663
71,692
37,494
503,169
$
$
$
$
$
$
$
$
$
226,252
858
72,856
14,217
17,235
87,082
57,532
38,586
514,618
$
$
$
$
$
$
$
$
$
213,919
427
74,876
7,826
13,027
61,725
50,548
46,575
468,923
$
$
$
$
$
$
$
$
$
255,889
373
100,481
21,613
12,032
82,767
50,548
48,912
572,615
$
$
$
$
$
$
$
$
$
252,780
372
87,774
37,756
14,450
70,419
32,037
52,696
548,284
Gross Operating Profit
$
246,713
$
257,110
$
462,581
$
405,629
$
505,629
Other Expenses:
Property Taxes & Insurance
Choice Franchise Fees @ 3%
Total Other Expenses
$
$
$
62,461
22,496
84,957
$
$
$
54,650
23,152
77,802
$
$
$
49,989
27,945
77,934
$
$
$
54,904
29,347
84,251
$
$
$
56,400
31,617
88,017
NET INCOME:
$
161,755
$
179,308
$
384,647
$
321,377
$
417,612
Statistics:
Breakdown of Rooms
Full
Queen
Doubles
King
Rooms Available
Rooms Occupied
Occupancy
Average Daily Rate
REVPAR
$
42
40
38
6
46,482
24,793
53.34%
29.48 $
15.72
46,355
24,676
53.23%
30.28 $
16.17
46,355
27,116
58.50%
32.58 $
19.06
43,805
27,004
61.65%
35.84 $
21.92
*Actual 2007 CapEx and Choice required expenses were $61,014.89 or 6.24% of revenue
& 2005 & 2006 R&M adjusted by 4% of revenue for CapEx items
**Sales and Advertising includes 1% of revenue paid for National Marketing
45,990
28,860
62.75%
36.10
22.73
Suburban Extended Stay Hotel
Market Analysis
Suburban Extended Stay Hotel
Full
Queen
Double
King
$50.99/night
$60.99/night
$65.99/night
$69.99/night
1. Super 8 Motel Hermitage
1-4 people, any room type
2. Vista Inn & Suites
Single
$40.00/night
Double
$45.00/night
3. Motel 6
Full
$48.00/night
Double
$53.85/night $237.93/week
$244.93/week
$251.93/week
$300.93/week
$52.00/night
$200.00/week
$225.00/week
Suburban Extended Stay Hotel
3910 Central Pike
Hermitage, Tennessee
About Suburban Hermitage :
Completed in February 1999, The Suburban Extended Stay Hotel offers 127 interior corridor
rooms. All rooms include well equipped kitchens with refrigerators, microwaves, and coffee makers,
cable television, and individual air conditioning and heat. In addition, some rooms include desks, irons,
and ironing boards. The Suburban Hermitage also offers many conveniences for business travelers
including free high speed internet access in all rooms, free local calls, in room voice mail, and copy and
fax services. Guests have access to laundry facilities, vending area, and an offsite health club. Suburban
Hermitage offers daily and weekly rates, depending on guest needs. There are weekly housekeeping
services for extended stay guests.
About Location:
Suburban Extended Stay Hotel The Suburban Extended Stay Hotel is situated on 2.06 acres of land in Hermitage, Tennessee on
Central Pike just ½ mile of Exit 221 from I-40. The Summit Medical Center and Park is located just
across the street. Suburban Hermitage is conveniently located within five miles of Nashville Shores
Water Park, the Nashville International Airport, Providence Market Place Mall, and The Hermitage. It is
also minutes away from the Grand Ole Opry, Opry Mills Shopping, Restaurants, J. Percy Priest Lake, and
the Nashville Zoo.
Hermitage, Tennessee is a section of Metropolitan Nashville located in eastern Davidson
County, named after The Hermitage. The Hermitage is the home of President Andrew Jackson which
encompasses 1100 acres. Hermitage is located within the Metropolitan Government of Nashville and
Davidson County yet it maintains its own identity as a residential and commercial suburban area. Just
thirty years ago, it was a rural area. It now is a thriving suburb where you can find tract starter homes
to high end residences. The newest development, Providence, is located just 6.5 miles from Suburban
Hermitage on 1000 acres. Hermitage is home of many retail stores and offices such as Deloitte and
Touches’ technology headquarters located minutes from Suburban Hermitage.
About Choice Hotel Brand:
Suburban Extended Stay Hotels are operated as a franchise of Choice Hotel. Choice hotel
encompasses many well known brands including Comfort Inn, Comfort Suites, Quality, Sleep Inn,
Suburban Extended Stay Hotel, and many more. The franchise agreement between Suburban Extended
Stay Hotel at Hermitage and Choice Hotel expires in 2016. For more information on Choice Hotel and
Suburban Extended Stay Hotels, visit the websites at www.choicehotels.com and
www.suburbanhotels.com.