Ready-to-Flag Extended Stay Hotel Birmingham 5101 Messer Airport Hwy

This is a 146 unit, 5 story, exterior corridor hotel located in Birmingham, AL less than 2 miles from the Birmingham-Shuttlesworth International Airport.
The hotel is poised for a strong position in the market as an extended stay hotel or multifamily apartment studios. The Seller's Pro forma revenues project to be $2,916,652 in Year 1, $3,408,301 in Year 2 and $4,050,594 in Year 3, with projected Net Income of $1,251,192 in Year 1, $1,514,296 in Year 2 and $1,819,233 in Year 3.
Complete renovations are ongoing and include all new electrical, plumbing, mechanical, fire alarm, drywall, flooring, paint, FF&E, public areas and much more, set to be completed by October 2024 and a certificate of occupancy date to follow thereafter The hotel features full kitchenettes in each room including a stove top, refrigerator, sink, and microwave. There is a separate building featuring a large meeting room / ballroom that could be converted to a restaurant for additional lease income.
It is unencumbered of brand, debt, and management with a variety of alternative brand options available for conversion including Suburban Studios (Choice), Select Suites (ESA), Studio 6 (G6), and others with Key Money Incentives for such a franchise license commitment. Inquire for PIP expectations and incentives.
Birmingham was ranked among the fastest growing cities in the nation for job growth in 2022 and one of the fastest growing cities for entrepreneurs by LinkedIn News. Developments at the nearby International Airport include new cargo facilities and service, with overall airport traffic increasing by 14% in 2023 per BHM. Coca-Cola announced plans to develop a $330M office & warehouse facility just over 1 mile from the hotel.