196 Virginia AveTifton, GA 31794

  • Hospitality properties
  • 31,083 SF
For Sale
$4,850,000 View listing

Property Details for 196 Virginia Ave

Year built
2000
Lot size
1.82 AC
Property size (Sq ft)
31,083 SF
Property type
Hospitality properties
Property subtype
Motels
APN
T018-046
APU
T018046

Description

This 82-key Microtel Inn & Suites by Wyndham in Tifton, Georgia, presents a compelling investment opportunity. Priced at $4,850,000, this three-story, interior-corridor hotel boasts a prime location just off Interstate I-75, offering convenient access for travelers. Situated on a 1.82-acre lot, the property is approximately two miles from downtown Tifton and within close proximity to several key attractions. These include the Georgia Museum of Agriculture and Historic Village, the Tift Theatre, and the Tifton Museum of Arts and Heritage, all within a two-mile radius. Furthermore, the hotel benefits from its proximity to Tift Regional Medical Center (four miles), Abraham Baldwin Agricultural College (three miles), and Tifton Municipal Airport (four miles), catering to a diverse range of clientele. Tifton's status as an agricultural hub ensures consistent business travel, further enhancing the property's revenue potential. Built in 2000, the hotel has undergone significant capital improvements and is offered with bank financing available. The seller has invested substantially in renovations, ensuring the property is well-maintained and ready for continued success. This represents a strong investment in a thriving location with excellent access to major transportation routes and local amenities. The property's strategic location and recent improvements make it an attractive option for investors seeking a profitable hospitality venture in a dynamic market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,385,124
    6.5%
    $4,047,808
    7%
    $3,758,678
  • Comparable approach

    Method
    Valuation
    Relative Method
    $5,192,772
    Geo Method
    $5,192,772
  • Alternative Use

    Use
    Valuation
    Residential
    $4,419,030
    Hospitality
    $4,047,808
    Educational
    $3,367,728
    Medical
    $3,483,550
    Retail
    $5,238,688
196 Virginia Ave, Tifton, Georgia

Location Insight

City
Tifton
County
Tift
State
Georgia
Latitude
31.4521
Longitude
-83.5295
CBSA code
45700
CBSA name
TIFTON, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,559
$72,800
$553,334
$626,134
-
$182,000
$1,383,334
$1,565,334

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].