2038 W Lucas St, Florence, SC 29501

Colliers, as exclusive representative of the seller, is pleased to present to qualified investors the Howard Johnson by Wyndham Florence, located at 2038 W Lucas St, Florence, South Carolina. The subject property is a 106-room, two-story, exterior-corridor, limited-service hotel constructed in 1970 and situated on approximately 3.73 acres with direct visibility and access to Interstate 95 (approximately 54,000 vehicles per day). The asset is offered fee simple, unencumbered by debt, and free of third-party management.

The hotel benefits from strategic positioning within the Florence Metropolitan Statistical Area, the primary economic and medical hub of South Carolina's Pee Dee Region, boasting a population of approximately 200,000 residents. The market features a diversified employment base anchored by a massive healthcare sector that employs over 13,500 professionals across major systems like McLeod Regional Medical Center, MUSC Health, and HopeHealth. Importantly, Florence’s industrial and logistics sectors continue to act as substantial economic catalysts, highlighted by the region capturing over $426 million in new capital investment and creating over 400 jobs in 2025. A defining recent development is the Q1 2026 opening of a $66 million Cheney Brothers distribution facility, which is generating hundreds of new jobs and driving ongoing corporate, construction, and vendor visitation to the market. This adds to a robust existing manufacturing footprint that includes major corporate employers such as Honda of South Carolina, GE Healthcare, and QVC. Leisure and event visitation further support the market, with local sports tourism generating over $12.2 million in annual economic impact. This steady influx of visitors is driven by tournaments, conferences, and events at the Florence Center, the Florence Tennis Center, and regional sports complexes, backed by a $6.7 million municipal hospitality budget for 2026. Collectively, these healthcare, logistics, and tourism demand generators provide a durable and diversified foundation for sustained hotel performance along the I-95 corridor.

The hotel’s STR-defined competitive set includes Econo Lodge Florence, Motel 6 Florence, Red Roof Inn Florence Civic Center, Sleep Inn Florence, Microtel Inn & Suites by Wyndham Florence, and Days Inn by Wyndham Florence/I-95 North. The subject property has consistently achieved market-leading performance across all metrics, generating impressive RevPAR penetration. The hotel benefits from a newly executed 15-year Wyndham franchise agreement signed in May 2025, ensuring long-term brand stability and global distribution support. The current owner has invested heavily in comprehensive capital improvements across the concrete-constructed property, significantly mitigating near-term deferred maintenance. Recent upgrades include property-wide electrical and plumbing updates, new sewerage pumps, upgraded exterior and parking lot lighting, new brand signage, updated water heaters, roof fascia repairs, and an ongoing conversion of guestrooms to modern vinyl flooring. A premier feature for an incoming owner-operator is the completely gutted and renovated on-site residence. Spanning approximately 1,100 square feet, this turnkey two-bedroom, one-bathroom home boasts a brand-new kitchen with all-new appliances, a fully modernized bathroom, a new AC unit, and a new water heater. Designed to feel like a true private home, the residence includes a newly constructed 200-square-foot deck and a spacious backyard, providing a quiet, residential retreat that feels entirely distinct from the hotel property. Looking ahead, a new investor has compelling, immediate value-add opportunities to drive incremental revenue by bringing two currently offline rooms back into service to reach the full 106-room capacity, coupled with further upside potential to develop and utilize additional rooms as market demand expands.

In summary, the Howard Johnson by Wyndham Florence represents a highly visible, concrete-constructed asset with a newly secured, 15-year brand affiliation and durable demand driven by the robust I-95 corridor and Florence's established healthcare and logistics sectors. The property offers substantial upside for a strategic investor to complete the ongoing guestroom modernization program and leverage the recent, heavy infrastructure investments to elevate the asset's overall profile. Immediate revenue growth can be unlocked by aggressively driving occupancy and capitalizing on the potential to build additional units as the market expands. The combination of dominant historical market penetration and clear, actionable pathways for physical and operational value-add improvements presents a compelling opportunity to significantly maximize net operating income and long-term exit value.