215 Commerce BlvdMidway, FL 32343

Property Details for 215 Commerce Blvd

Year built

2008

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.30 AC

Property size (Sq ft)

28,130 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

4-10-1N-2W-0000-00334-0400

APU

4101N2W0000003340400

Description

This exceptional investment opportunity presents a fully renovated 67-key Comfort Inn & Suites hotel in Midway, Florida. Strategically located off I-10, this three-story, 2008-built property enjoys high visibility and easy access to major roadways. A comprehensive renovation completed in June 2023 includes all-new furniture throughout the 67 units, ensuring a modern and comfortable guest experience. The hotel sits on a 2.3-acre lot, including an additional half-acre offering potential for future expansion or development. The property boasts a robust metal roof, minimizing maintenance costs, and provides ample parking with 85 spaces. Its proximity to Florida State University (9 miles) and Tallahassee International Airport makes it ideal for both business and leisure travelers. The hotel features indoor corridors and benefits from a strong brand presence and consistent revenue. This turnkey investment requires minimal additional capital expenditure, offering immediate returns and significant long-term growth potential. A virtual tour is available for a comprehensive view of the property.

• CAP approach

  CAP return

  Valuation

  6%

  $4,374,108

  6.5%

  $4,037,639

  7%

  $3,749,236

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,699,440

  Geo Method

  $4,699,440

• Alternative Use

  Use

  Valuation

  Residential

  $4,407,928

  Hospitality

  $4,037,639

  Educational

  $3,359,268

  Medical

  $3,474,798

  Retail

  $5,225,528

Location Insight

City

Midway

County

Gadsden

State

Florida

Latitude

30.4923

Longitude

-84.4257

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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