Suburban Extended Stay Hotel

Suburban Extended Stay Hotel
8615 Hankins Road
Charlotte, North Carolina
128 Room Plus Apartment Unit
Interior Corridor Extended Stay Hotel
Price $6,495,000
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 REPRESENTITATIVE 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
8615 Hankins Road
Charlotte, North Carolina
Five Year Comparison
2005, 2006, 2007, 2008, Budget 2009
2005
2006
2007
2008
Budget 2009
Revenues:
Total Revenues
$ 1,086,332
$ 1,092,168
$ 1,298,107
$ 1,073,896
$ 1,080,568
Operating Expenses:
Salaries, Taxes, Benefits
Security
Direct Room Expenses
R & M*
Sales & Advertising**
Utilities
A&G
Management Fee @ 5%
Total Operating Expenses
$
$
$
$
$
$
$
$
$
248,741
570
74,902
46,676
24,766
68,253
53,679
54,317
571,904
$
$
$
$
$
$
$
$
$
278,193
12,980
81,746
46,442
15,914
70,568
64,575
54,608
625,026
$
$
$
$
$
$
$
$
$
274,122
360
84,471
32,250
18,689
76,086
43,190
64,905
594,073
$
$
$
$
$
$
$
$
$
255,503
360
78,466
58,362
23,661
83,580
48,378
53,695
602,005
$
$
$
$
$
$
$
$
$
232,888
360
77,174
32,594
20,522
82,964
41,500
54,028
542,030
Gross Operating Profit
$
514,428
$
467,142
$
704,034
$
471,891
$
538,538
Other Expenses:
Property Taxes & Insurance
Choice Franchise Fees @ 4%
Total Other Expenses
$
$
$
53,736
43,453
97,189
$
$
$
48,794
43,687
92,481
$
$
$
54,250
51,924
106,174
$
$
$
50,832
42,956
93,788
$
$
$
55,200
43,223
98,423
NET INCOME:
$
417,239
$
374,661
$
597,859
$
378,103
$
440,115
Statistics:
Room Breakdown:
Queen
King
Doubles
Rooms Available
Rooms Occupied
Occupancy
Average Daily Rate
REVPAR
$
67
15
46
46,720
31,521
67.47%
33.54 $
22.63
46,720
30,053
64.33%
34.80 $
22.38
43,895
31,259
71.21%
40.87 $
29.11
46,848
25,146
53.68%
42.49 $
24.74
*Actual 2008 CapEx and Choice required expenses were $62,284
and 2005 & 2006 R&M adjusted by 4% of revenue for CapEx items
**Sales and Advertising includes 1% of revenue paid for National Marketing
46,720
24,765
53.01%
43.23
22.95
Suburban Extended Stay Hotel
Market Analysis
Suburban Extended Stay Hotel
Queen
King
Doubles
$59.99/night $293.99/week
$69.99/night $307.99/week
$74.99/night $321.99/week
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 $52.00/night
$200.00/week
$225.00/week
Suburban Extended Stay Hotel
8615 Hankins Road
Charlotte, North Carolina
About Suburban Charlotte :
Completed in March 2000, The Suburban Extended Stay Hotel offers 127 interior corridor
rooms. All rooms include well equipped kitchens with refrigerators, microwaves, and coffee makers,
cable/satellite television with HBO, desks, and individual air conditioning and heat. The Suburban
Charlotte also offers many conveniences for business travelers including free high speed internet access
in all rooms, free local calls, wake up services, in room voice mail, and copy and fax services. Guests
have access to laundry facilities & vending area. Suburban Hermitage offers daily and weekly rates,
depending on guest needs.
About Location:
Suburban Extended Stay Hotel The Suburban Extended Stay Hotel is situated on 2.2 acres of land zoned I-2 in the city of
Charlotte, Mecklenburg County in North Carolina. The hotel is on WT Harris Boulevard
approximately one mile from Exit 18 off I-77 and five miles from Exit 45 off I-85. Suburban Charlotte is
conveniently located within one and a half miles from Charlotte Sports Center, AMC Theater, Belk,
Dicks Sporting Goods, Northlake Mall, and many restaurants. It is also less than ten miles from
Concord Mills Mall, Discovery Place, Charlotte Bobcat Arena, Bank of America Stadium, and Lowe’s
Motor Speedway.
The largest city in North Carolina, Charlotte is the 5th fastest growing city. Two of the nation’s
largest financial institutions, Bank of America and Wachovia have their headquarters in Charlotte.
Other major companies that are headquartered in Charlotte include Duke Energy, Goodrich
Corporation, SPX Corporation, Timer Warner Cable, Lowe’s, Belk, Harris Teeter, Meineke Car Care
Centers, LendingTree, and many more. There has been a significant amount of growth in Charlotte
over the past decade and there are no signs of slowing down. According to the 2006 census, there are
630,478 people living in Charlotte’s city limits and it’s projected to be over one million by 2010.
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 Charlotte 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.