6737 Mahan DrTallahassee, FL 32308

Property Details for 6737 Mahan Dr

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

3.03 AC

Property size (Sq ft)

22,070 SF

Property type

Motels

APN

12-18-15- A-012-0

APU

121815A0120

Description

This exceptional 59-unit, two-story motel in Tallahassee, Florida, presents a compelling investment opportunity. Located at 6737 Mahan Dr, 32308, this property boasts recent renovations and ample parking, situated near major employers like Amazon and Publix, and thriving new residential communities. The motel's strong financial performance is evident in its total revenue figures: $982,034.14 in 2023, $825,275.84 in 2022, and $998,979.59 in 2021. Adding to its value is an additional lot containing a storage building equipped with laundry machines and linen storage, enhancing operational efficiency. A fenced-in pool with a pool shed provides a desirable amenity for guests. The motel's strategic location near both established businesses and new residential developments positions it to attract a diverse clientele, including tourists, business travelers, and local residents. The property's potential for increased revenue is significant, with opportunities to explore additional revenue streams such as breakfast options, vending machines, or room service partnerships with local restaurants. This well-maintained motel, with its attractive amenities and strong financial history, offers a rare chance to acquire a profitable hospitality asset in a rapidly growing area. The property's success can be further enhanced through targeted marketing strategies and excellent customer service.

• CAP approach

  CAP return

  Valuation

  6%

  $5,881,472

  6.5%

  $5,429,051

  7%

  $5,041,262

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,687,047

  Geo Method

  $3,687,047

• Alternative Use

  Use

  Valuation

  Residential

  $5,926,946

  Hospitality

  $5,429,051

  Educational

  $4,516,907

  Medical

  $4,672,250

  Retail

  $7,026,300

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4823

Longitude

-84.1631

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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