1417 Veterans Memorial PkwyTuscaloosa, AL 35404

Property Details for 1417 Veterans Memorial Pkwy

Year built

2008

Lot size

0.83 AC

Property size (Sq ft)

27,926 SF

Zone code

BH

Property type

Hotels

APN

30-09-30-1-004-009.000

APU

3009301004009000

Description

This 59-key Microtel Inn & Suites in Tuscaloosa, Alabama, presents a compelling value-add opportunity. Located at 1417 Veterans Memorial Parkway, this four-story, 27,926 square foot hotel boasts a prime location near the University of Alabama, Bryant-Denny Stadium, and the city's main retail corridor. Built in 2008 and extensively renovated in 2024, the property features updated bathrooms, flooring, and public spaces, including a business center and fitness center. The hotel benefits from a strong, consistent customer base driven by the university and its associated events, as well as the city's thriving retail sector. With 65 parking spaces and a recent roof renovation, the property is offered fee-simple, free of debt and management contracts. The asking price is $5,049,413.40, representing $180.81 per square foot and $85,583.28 per key. Current occupancy stands at 54.5%. The property's location on a high-traffic corridor ensures significant visibility and accessibility. This represents a below-replacement-cost acquisition with significant potential to increase revenue to market comparable levels. The property is zoned BH. Pre-scheduled site visits are required.

• CAP approach

  CAP return

  Valuation

  6%

  $4,439,823

  6.5%

  $4,098,298

  7%

  $3,805,563

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,554,950

  Geo Method

  $12,801,027

• Alternative Use

  Use

  Valuation

  Residential

  $4,474,151

  Hospitality

  $4,098,298

  Educational

  $3,409,736

  Medical

  $3,527,002

  Retail

  $5,304,034

Location Insight

City

Tuscaloosa

County

Tuscaloosa

State

Alabama

Latitude

33.1968

Longitude

-87.5168

CBSA code

46220

CBSA name

TUSCALOOSA, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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