3 Gateway BlvdSavannah, GA 31419

Property Details for 3 Gateway Blvd

Lot size

3.63 AC

Zone code

PBC

Property type

Hospitality properties

Property subtype

Motels

APN

1-1029 -02-012A

APU

1102902012A

Description

This exceptional investment opportunity presents a fully renovated, 129-key hotel in Savannah, GA. The property boasts a prime location at the intersection of I-95 and Abercorn Street, offering unparalleled visibility and accessibility. Built in 1980 and extensively renovated in 2023, the two-story, exterior corridor hotel features 98 queen/queen rooms, 3 queen rooms, and 29 king rooms, spread across a 3.63-acre lot. The $2.7M+ renovation transformed the hotel into the OneWay Hotel Savannah, maximizing its appeal to travelers. Furthermore, the sale includes a NNN-leased Perkins Restaurant generating $6,000 in monthly income. The hotel's strategic location provides easy access to downtown Savannah (15.3 miles), Savannah/Hilton Head International Airport (11.9 miles), Savannah State University (16.7 miles), and Hunter Army Airfield (14.1 miles). With over 93,000 vehicles traversing I-95 daily, the hotel enjoys exceptional exposure. The property's strong pro-forma NOI of $891,194 makes it a compelling investment prospect in a thriving Georgia MSA. This is a rare chance to acquire a high-performing, recently renovated hotel with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $37,215,900

  6.5%

  $34,353,140

  7%

  $31,899,344

• Comparable approach

  Method

  Valuation

  Relative Method

  $33,219,840

  Geo Method

  $25,271,772

• Alternative Use

  Use

  Valuation

  Residential

  $37,503,648

  Hospitality

  $34,353,140

  Educational

  $28,581,408

  Medical

  $29,564,368

  Retail

  $44,459,968

Location Insight

City

Savannah

County

Chatham

State

Georgia

Latitude

32.003

Longitude

-81.2829

CBSA code

42340

CBSA name

SAVANNAH, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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