Motel 6 –Albany #172

Motel 6 –Albany #172
ALBANY, GEORGIA
EXCEPTIONAL INVESTMENT OPPORTUNITY
Rockwood Real Estate Advisors, in association with Auction.com, has been
retained on an exclusive basis by the Owner to offer for sale the Fee Simple
interest in the Motel 6 Albany #172, a 101-key limited-service hotel located in
Albany, Georgia (the “Hotel”).
The Motel 6 – Albany, GA is conveniently located in eastern Albany within
minutes of major demand generators including the Marine Corps Logistics
Base, Procter & Gamble, MillerCoors Brewing Company, and Albany State
University. The immediate area provides a variety of support amenities
including Oglethorpe Plaza Shopping Center, Western Sizzlin’ Steakhouse,
McDonald’s, Wendy’s, KFC, Waffle House, and more. Albany is situated in
southwestern Georgia, approximately 85 miles north of Tallahassee, FL, 89
miles southeast of Columbus, GA, and 105 miles southwest of Macon, GA.
Major highways serving the area are US-19, US-82 and GA-300.
This investment represents an opportunity to rebrand the Hotel to capture
additional room rate, occupancy and Net Operating Income.
Key Property Information
Property Being Sold Through Auction.com
Motel 6 - Albany #172
Property ID: B108-111
Auction Date June 17-18
Rockwood
Real Estate Advisors
Address
201 South Thornton Drive
Albany, GA 31705
Location
US-19 at East Oglethorpe Boulevard/US-82,
Exit 2
When Built
Opened in 1974 as a Motel 6
Ownership Interest
Fee Simple
Number of Rooms
101, with a Manager’s apartment on-site
Corridors
Exterior
Land Area
1.8892 acres
Buildings
Three 2-story connected buildings
Construction
Wood frame
Internet Access
Wi-Fi provided by Meraki, Inc., transferrable to buyer
Parking
75 surface spaces
Fitness & Recreation
Outdoor pool
Hotel Amenities and
Features
Guest laundry, vending, and pets are
welcome.
MOTEL 6 – ALBANY #172
Occupancy
ADR
RevPAR
Total Room Revenue
Total Revenue
YE
2008
35.3%
$31.01
$10.96
$405,101
$407,321
YE
2009
32.0%
$30.86
$9.88
$364,284
$367,135
Financial Results
YE
YE
2010
2011
40.3%
37.6%
$28.10
$29.68
$11.34
$11.16
$417,951
$411,413
$421,584
$415,877
YE
2012
38.4%
$30.11
$11.57
$427,552
$433,117
YTD February
2012
2013
41.9%
38.0%
$30.50
$30.21
$12.79
$11.48
$77,496
$68,401
$78,478
$69,248
Place Image
TTM Feb
2013
37.8%
$30.06
$11.35
$418,457
$423,887
Source: G6 Hos pi tal i ty
INVESTMENT HIGHLIGHTS
Significant Upside Potential
ūū
ūū
As of TTM February 2013, the Hotel achieved a RevPAR Index of 67.4%, which indicates plenty of room for improvement, and is a 9.2% increase over the previous year at
61.7%.
The lodging market of Albany and surrounding towns,
achieved an Occupancy increase of 4.6% (48.1% to 50.3%)
YTD February 2013, indicating a strengthening market.
Proximate to Major Demand Generators
ūū
ūū
Most corporate, university, medical and military demand
generators are located less than a 10-minute drive from
the Hotel, including: the Marine Corps Logistics Base,
Procter & Gamble, MillerCoors Brewing Company, Albany State University, Phoebe Putney Memorial Hospital,
Georgia Pacific and Albany Mall.
Easy access from US-19 and US-82, which provide daily
traffic, including weekend leisure travelers.
Opportunity for Aggressive, Creative Management
and Re-Branding
ūū
ūū
The Hotel will be sold unencumbered by the Motel 6 franchise, enabling the buyer to affiliate with their preferred
brand.
The Hotel will be sold unencumbered by management allowing the new owner to install innovative entrepreneurial practices.
Acquisition Well Below Replacement Cost
ūū
ūū
With new construction of an economy Hotel estimated to
be approximately $50,000 per key, this Hotel is available at
a price significantly below this level.
If re-branded, a change-in-ownership PIP should be expected.
CONTACT INFORMATION
All questions should be directed to the individual referenced below.
Andrew Kern
Managing Director, Hospitality Team Leader
[email protected]
301-255-4785 (Office)
Rockwood
Real Estate Advisors
MOTEL 6 – ALBANY #172
AREA MAP
Old Leesburg
19
13
Darton State College
11 Albany State University
3
Thrush Aircraft
12 Coats & Clarke, Inc.
4
Southwest Georgia
Regional Airport
13
5
MARS Snackfood US
14 Procter & Gamble
6
Georgia Pacific Corp.
15
MillerCoors Brewing
Company
7
Phoebe Putney
Memorial Hospital
16
Marine Corps Logistics
Base
Albany Civil Rights
Movement Museum
17 US 19 Dragway
a
lem
i
Ph
a
yr
lm
Pa
Lib
ert
y
6
Cro
m
10th
11th
ch 8
Owe
ns
7
Turner Field
Blaylock
15
d
evelt
Roos
n
on
91
8
Clark
62
10
E .Og
letho
11
Motel 6 Albany
82
lvd
Liberty
S. Westover Blvd.
Mo
ult
Oakridge
62
14
Flemming
Rive
r
300
19
19
t
Flin
4
Martin Luther King Jr
3
W. Oakridge Dr.
wt
on
234
rie
5
Ne
Oakridge
62
Sylvester
rpe B
Slappey
Gord
Madison
Albany
Broad
Oglethorpe
12
9
Pine
Bryo
Mock
Gillion
ville
300
S Jefferson St.
nR
2
Bea
19
3rd
Da
ws
o
82
133
Chehaw Wild Animal
Farm
Maple
Westover
N. Slappey Blvd.
artie
Flint RiverQuarium
le
Stuart
520
9
Co
rd
e
Old Dawson
234
2
Chehaw
State Park
17
Rockwood
Real Estate Advisors
lly
82
82
10 Albany Civic Center
Ho
1
Albany Mall
Liberty
n
Nottingham
Da
ws
o
Motel 6 Albany
1
133
Walnut
Ledo
*
91
133
16
Rd.
Rockwood
No warranty or representation, express or implied, is made as to the accuracy of the
information contained herein, and same is submitted subject to omissions, change of
price, rental or other condition, without notice, and to any listing conditions, imposed by
the Owner.
Real Estate Advisors
5 5 5 F I F T H AV E N U E , F O U R T H F L O O R
ANDREW KERN
CHRIS TURNER
N E W YO R K , NY 10017
Managing Director,
Hospitality Team Leader
301-255-4785 (Office)
[email protected]
Managing Director
GA License ID: 150492
(212) 286-5800
www.rockwoodrea.com
DO NOT CONTACT THE MANAGEMENT STAFF OF THE PROPERTY. ROCKWOOD REAL ESTATE ADVISORS IS THE OWNER’S EXCLUSIVE ADVISOR FOR THIS CONFIDENTIAL ASSIGNMENT.
LICENSING DISCLOSURE
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