Clarion Pointe Tallahassee-State Capitol | 2702 N Monroe St
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Clarion Pointe Tallahassee-State Capitol 2702 N Monroe St
58 Room Hotel Tallahassee, FL 32303 £5,267,327 (£90,816/Room) 11.70% Net Initial Yield
Investment Highlights
- Centrally located directly off Interstate 10 and a short drive to Florida State University.
- New Roof, new Tankless water heaters, new FF&E, new windows, and window treatment, new laundry equipment, and new bathroom furniture.
- Opportunity to acquire a well-located asset in proximity to a variety of Demand Generators.
- The property was closed for renovation then reopened after completion of the PIP in 2021
- Property is in great condition; No pending PIP.
- Room Revenue has been on an upward trend for the past three years.
Executive Summary
The Kabani Hotel Group, acting as the exclusive representative of the seller, is excited to offer the Clarion Pointe by Choice Tallahassee – State Capitol for sale. This well-established property, built in 1988, features a 3-story, 58-room interior corridor hotel situated on a 1.13-acre lot. Conveniently located just off Interstate 10, it is in close proximity to several universities, including Florida State University and Florida
A&M, as well as the Florida State Capitol and Downtown Tallahassee.
The property underwent a complete Property Improvement Plan (PIP) in 2021, making this the first Clarion Pointe by Choice in Florida. This presents a prime opportunity for investors to acquire a hotel with a reputable brand in a rapidly growing market.
A&M, as well as the Florida State Capitol and Downtown Tallahassee.
The property underwent a complete Property Improvement Plan (PIP) in 2021, making this the first Clarion Pointe by Choice in Florida. This presents a prime opportunity for investors to acquire a hotel with a reputable brand in a rapidly growing market.
Property Facts
| Price | £5,267,327 | Lot Size | 1.13 AC |
| Price Per Room | £90,816 | Building Size | 23,151 SF |
| Sale Type | Investment | No. Rooms | 58 |
| Net Initial Yield | 11.70% | Number of Floors | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1988/2021 |
| Property Subtype | Hotel | Parking Ratio | 2.59/1,000 SF |
| Building Class | B | Corridor | Interior |
| Price | £5,267,327 |
| Price Per Room | £90,816 |
| Sale Type | Investment |
| Net Initial Yield | 11.70% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.13 AC |
| Building Size | 23,151 SF |
| No. Rooms | 58 |
| Number of Floors | 3 |
| Year Built/Renovated | 1988/2021 |
| Parking Ratio | 2.59/1,000 SF |
| Corridor | Interior |
Amenities
- High Speed Internet Access
- Patio
- Public Access Wi-Fi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 58 | £84.75 | - |
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PROPERTY TAXES
| Parcel Number | 21-23-20-009-000.0 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £952,176 |
PROPERTY TAXES
Parcel Number
21-23-20-009-000.0
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£952,176
zoning
| Zoning Code | CP |
| CP |
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Clarion Pointe Tallahassee-State Capitol | 2702 N Monroe St
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