For Sale
$5,350,000

538 Bonita Lakes DrMeridian, MS 39301

62-Room Hotel, Prime Location, High Demand

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 62-room property, built in 2008 and situated on 1.36 acres in Meridian, Mississippi, presents a unique investment opportunity. Currently operating as a highly successful, fully renovated assisted living facility (awarded "Best of Senior Care" twice by a leading third-party service), this three-story building offers a straightforward conversion back to a hotel. Its strategic location near I-20/I-59, Bonita Lakes Mall, and major healthcare facilities (Anderson Regional Medical Center and Rush Foundation Hospital) ensures high visibility and accessibility. The property benefits from proximity to significant employers, including the City of Meridian, Meridian Public School District, East Mississippi State Hospital, and two military installations (Naval Air Station Meridian and Key Field), employing over 5,000 people. The strong tourism sector in Meridian, with high hotel occupancy rates and projected growth, further enhances the investment potential. The existing infrastructure, including a newly constructed commercial kitchen and community room, provides a solid foundation for a seamless transition. Several upper-midscale hotel franchises offer key money incentives for conversion, making this a compelling opportunity for investors seeking a high-return asset in a thriving market. The property's versatility, strong location appeal, and steady demand make it an attractive option for both hotel conversion and continued operation as a senior care facility. Downtown Meridian's cultural attractions, such as the MSU Riley Center and the Meridian Museum of Art, are also within easy reach, adding to the property's appeal. This turnkey opportunity combines the benefits of a proven, successful business model with the potential for significant upside through hotel conversion.

Highlights

  • 2008 Construction.
  • 1.36-acre lot.
  • Three-story building.
  • Hotel conversion potential.
  • Upper-midscale hotel conversion opportunity with available key money incentives.
  • Lauderdale County's only approved Medicaid-certified assisted living facility (up to 70 residents).

Property Details for 538 Bonita Lakes Dr

Property type
Hospitality properties, Hotels
Year Built
2008
Stories
3
Lot Size (sq. ft)
59,242 SF

Location Insight

City
Meridian
County
Lauderdale
State
Mississippi
Latitude
32.3620988
Longitude
-88.6728957
538 Bonita Lakes Dr, Meridian, Mississippi

FAQs

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].
538 Bonita Lakes Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message