Budgetel Inn - Montgomery, AL

5175 Carmichael Road, Montgomery, AL

$3,300,000

Price

2.1%

Cap Rate

39,488 sqft

Building Size

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Street
Map
Overview
Cap Rate
2.1%
Building Size
39,488 sqft
Lot Area
2.4 acres
Units
108
Occupancy
67%
Year Built
1987
Zoning
B3
Floors
2
Roof
2017
Description

Budgetel Inn Montgomery, AL being offered for sale. Located on the corner of I-85 and US-231, minutes from downtown, shopping and dining. 108 room, two story, exterior corridor hotel, built in 1987. Large manager apartment with fenced in backyard and convenient access to front desk. Seasonal outdoor pool. Main laundry includes 2 new washers and 2 dryers. The property underwent renovation in 2021 and continues in 2022, items that have been completed are interior and exterior paint, plumbing, new roof and 40% of rooms now have new LVP flooring, platform beds and mattresses. Franchise agreement can be renewed each year, currently no pip for new owner. Previously branded Super 8 and Oyo. Stable revenue expected to exceed last years numbers. 5 miles from Montgomery Whitewater outdoor recreational & entertainment park, which is planned to open 2023. Just 13 miles from 650,000 SF planned Amazon IXD facility and Montgomery Airport. Montgomery, the capital of Alabama is strategically located at the intersection of I-65 and I-85, and known for its historic downtown and redevelopment of the riverfront. It is home to state and regional governments, a major military installation, the USAF Air University and extensive industry and tourism. Envision Montgomery 2040 Plan welcomes multi family use rezoning in this area. Great opportunity !


Located on the corner of I-85 and US-231, minutes from downtown, shopping and dining.

Location
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