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Holiday Inn Express & Suites Picayune Stennis Space Center | 67 Rooms

1001 Dauphin Street
Picayune, MS 39466
PRICE : $5,400,000
CAP RATE: 9.85%
PROPERTY TYPE: Hospitality
BUILDING SIZE: 40,297 SF
YEAR BUILT: 2009

Highlights

  • IHG 2016 Torchbearer Award
  • Available individually or packaged with an 83-room Candlewood Suites located In Vicksburg
  • 9.85% cap rate (as an owner-operated property)
  • To upgrade to a Formula Blue and have a 15 year agreement with IHG, the change of ownership PIP will be approximately $1.1M (paid by buyer)
  • Buyer can complete the PIP to Formula Blue or the PIP can be arranged for a turn key investment
  • Management available for hands-off investment

Description

Opportunity to acquire an award winning limited-service hotel. This 3-story, 67-room property built in 2009 is well located in a stable market area in close proximity to New Orleans, Hattiesburg and the Mississippi Gulf Coast. This well-maintained Holiday Inn Express & Suites enjoys consistently strong occupancy.

Property is presently owner-operated.

DO NOT DISTURB THE EMPLOYEES. ALL PROPERTY TOURS MUST BE ARRANGED WITH BULL REALTY.

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