1130 Joaneen DrSaraland, AL 36571

Property Details for 1130 Joaneen Dr

Year built

2010

Lot size

1.42 AC

Property size (Sq ft)

35,790 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

22 03 08 2 000 029.XXX

APU

2203082000029XXX

Description

This 60-key Country Inn & Suites hotel in Saraland, Alabama, presents a compelling investment opportunity. Built in 2008, this three-story property boasts a current occupancy rate of 87.8% (as of December 30, 2023) and a Net Operating Income (NOI) of $248,960. Pro forma projections indicate a significant increase in NOI to $557,842 and a 12.13% capitalization rate, highlighting the substantial upside potential. Situated on a 1.42-acre lot, the hotel benefits from its convenient location directly off Interstate 65, within the Mobile MSA – Alabama's third-largest metropolitan statistical area. The property's proximity to key businesses, including the University of Mobile, Allied Steel Corporation, Vertex Energy Mobile Refinery, and Austal USA, as well as Downtown Mobile, ensures a consistent stream of guests. This limited-service hotel offers a new owner the chance to leverage the established Choice Hotels brand, reservation system, and guest loyalty program to further enhance revenue and profitability through effective revenue management strategies. The asking price for this exceptional property is $4,600,000, representing a current capitalization rate of 5.41%.

• CAP approach

  CAP return

  Valuation

  6%

  $5,730,370

  6.5%

  $5,289,572

  7%

  $4,911,745

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,869,100

  Geo Method

  $5,979,131

• Alternative Use

  Use

  Valuation

  Residential

  $5,774,676

  Hospitality

  $5,289,572

  Educational

  $4,400,862

  Medical

  $4,552,214

  Retail

  $6,845,784

Location Insight

City

Saraland

County

Mobile

State

Alabama

Latitude

30.8051

Longitude

-88.1022

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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