Listed by Hotel Brokers Of America
$5,750,000
Country Inn & Suites Covington, LA
Details
APN 27005
Property Type Hospitality
Sub Type Hotel
Square Footage 37,942
NOI $492,529
Price per SqFt $152
Buildings 1
Lot Size (SqFt) 47,916
Sale Condition For sale by owner
70 Rooms | Priced to sell | High historical topline revenue | Profitable with upside
Marketing description
The Country Inn & Suites in Covington, Louisiana is a rare opportunity to acquire a first-generation asset that has never been sold. Built and owned by the original developer, the property offers immediate upside through improved operations and a targeted renovation plan.
With current performance below market levels, this asset is well-positioned for investors seeking yield and operational upside in a growing Northshore submarket.
Investment highlights
• First-Time Sale – Original Ownership
• 70-Key Select-Service Hotel
• Estimated PIP: ~$500,000 (~$7.2K/Key)
• Below-Market Performance with Upside
• New 15–20 Year License Expected with Choice
• SBA Financing Available
• Located in Growing Northshore Submarket
Listing Contacts
Listed by Hotel Brokers Of America
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$492,529.00
$41,044.08/mo
Valuation Metrics
0
DSCR
8.57%
Cap Rate
8.57%
ROI
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