103 Live Oak DrDiamondhead, MS 39525

Property Details for 103 Live Oak Dr

Lot size

1.12 AC

Property type

Office buildings

APN

132H-1-13-011.000

APU

132H113011000

Description

This exceptional 149-key Ramada by Wyndham hotel in Diamondhead, MS, presents a lucrative investment opportunity. Boasting a prime location directly off I-10 Exit 16, this two-story, interior-corridor hotel enjoys high visibility and easy access to major attractions. The 6.1-acre property underwent a significant $1.5 million capital expenditure program in 2023, encompassing complete room renovations (new flooring, paint, TVs, vanities, beds, refrigerators, microwaves, and toilets), a renovated ballroom with new furniture and carpeting, upgraded WiFi throughout, a new camera system, RFID locks, and a refreshed lobby. Further improvements include a new HVAC system, upgraded concrete parking lot, and Wyndham-approved linens. The hotel benefits from its proximity to Gulf Coast beaches, casinos (Hollywood and Silver Slipper), Gulfport Sportsplex, Stennis Space Center, and Diamondhead Country Club. Numerous other attractions, including water parks, shopping outlets, and cultural destinations, are within a short driving distance. The property also enjoys limited competition, with no competing hotels within a 30-mile radius. A potential buyer incentive of $500,000 is available at closing for buyers retaining the Ramada by Wyndham franchise. Bank financing is available. This turnkey operation offers immediate revenue generation and significant upside potential in a thriving tourism market, conveniently located 65 miles from New Orleans and 21 miles from Gulfport-Biloxi International Airport (GPT). The asking price is $5,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $7,736,716

  6.5%

  $7,141,584

  7%

  $6,631,470

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,721,516

  Geo Method

  $3,468,268

• Alternative Use

  Use

  Valuation

  Residential

  $8,855,564

  Hospitality

  $8,111,649

  Educational

  $6,748,796

  Medical

  $6,980,898

  Retail

  $10,498,128

Location Insight

City

Diamondhead

County

Hancock

State

Mississippi

Latitude

30.3741

Longitude

-89.3787

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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