This 40-key Quality Inn, a Choice Hotels property, presents a compelling investment opportunity in the Tallahassee MSA. Built in 1994, this two-story, exterior-corridor hotel boasts a prime location along Interstate 10, approximately 25 miles from Downtown Tallahassee and near the Quincy Historic District. The property sits on two acres and has recently undergone significant renovations, including a new roof, updated exterior lighting, electrical upgrades in the breakfast area, refurbished PTAC units, a resurfaced parking lot, and refurbished laundry equipment. An estimated $25,000+/- change of ownership PIP is anticipated, subject to verification by Choice Hotels. Previous and current owners have invested approximately $150,000+/- in capital improvements. The hotel benefits from a diverse demand base, including leisure and business travelers, legislative attendees, healthcare professionals, university visitors, and sports teams, with proximity to attractions such as the Gadsden Arts Center & Museum and Bear Creek Educational Forest. The property's strong historical performance, evidenced by over $1,000,000 in room revenue in 2021 and 2022 (December Monthly STR Reports), and its potential for RevPAR improvement (currently at 75% of the comp set index based on the June 2024 Monthly STR Report), make it an ideal acquisition for an owner-operator seeking to maximize returns. The asking price is $3,800,000. Projected year-end 2023 metrics include a 4.13x Revenue Multiple and a 6.03% capitalization rate, while year one projections show a 4.24x Revenue Multiple and an 8.22% capitalization rate. June 2024 T-12 data shows an ADR of $102.75, RevPAR of $58.57, and an occupancy rate of 57%.
Highlights
40-room, two-story Quality Inn Quincy hotel with exterior corridors.
Built in 1994, recently renovated with minimal future capital expenditures expected.
Owner-operator ideal key count.
Located in the Tallahassee MSA, ideally positioned along Interstate 10.
Strong potential for RevPAR improvement based on June 2024 STR data.
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Contacts
Dennis Hopper, CCIM
Tyler Quijano
Visit Broker Website
Learn more
Useful Information
Request information
75 Spooner Rd, Quincy, Florida, 32351
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
75 Spooner Rd
Sign Up
Already a member?
Just one more step, let’s verify your email
We have sent a verification link to
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.