Motel 6 Tampa, FL
Hospitality | 99 Keys
Marketing description
The Kabani Hotel Group has been retained to offer for sale the fee simple interest in the 99 - room Motel 6, located in Tampa, Florida. The Property is a two-story, limited-service hotel, built in 1985.
Located directly off E Adamo Dr. and I-75, one of Tampa’s main thoroughfares provides ease of access and displays excellent signage to commuters. Additionally, the property is conveniently located within close proximity to many of Tampa’s more popular demand generators such as Busch Garden Park (over 4 million visitors), Downtown Tampa (with a large number of people that commute and visit), Seminole Hard Rock Casino (the casino’s various entertainment and gaming options attracts a high volume of traffic and visitors) and the Florida State Fairgrounds (that attracts over 500,000 people annually).
The property is currently under non-local ownership and is in need of renovation, which has contributed to its underperformance relative to the competitive set. With a hands-on operator and strategic renovation, the asset has strong potential to become a top performer within its market segment.
Investment highlights
Property Highlights
· 99 Rooms - Interior Corridor - 2 Stories - 2 Buildings - Concrete Build
· 4.7 Acres of additional land for potential hotel development
· The franchise agreement ends next year.
· Rebranding opportunity available
· Value add opportunity
· The Annual Average Daily Traffic is 4600 (AADT)
Financial Highlights
· Last 3yrs Annual Room Rev Avg ($2,567,376)
· Last 3yrs Annual NOI Avg ($874,586)
· Year 2 Pro forma Room Rev ($2,752,042)
· Year 2 Pro forma NOI ($994,679)
Location Highlights
· I-75
· Ice Sport Forum/TGH Ice Plex (Practice Rink for Tampa Bay Lightning)
· Mid Florida Credit Union Amphitheatre
· Tampa Convention Center
· Busch Gardens
· Florida Aquarium
· Zoo Tampa at Lowry Park
· Tampa Fairgrounds
· Hard Rock Hotel & Casino
· Coca-Cola Office
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