Comfort Suites Port Allen

$4,700,000

2880 N Westport Dr, Port Allen, LA 70767

Details

  • $4,700,000
  • Midscale

Investment Overview:

Marcus & Millichap’s National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Comfort Suites in Port Allen, Louisiana. This hotel is a mid-scale, limited service property located in West Baton Rouge Parish. The 65-unit Comfort Suites Port Allen has multiple demand generators, both leisure and corporate, as expected with such close proximity to Baton Rouge, the state capital of Louisiana, and home of the flagship university of the state, Louisiana State University (LSU). The stable economic market for Baton Rouge and strong brand awareness has led to consistent growth in RevPAR, a distinct competitive advantage.

The Comfort Suites Port Allen is offered for sale at $4.7 million. Based on July 2017 Trailing Twelve Months, which includes reserves for capital replacements (4 percent) the offered capitalization rate is 14.7 percent. However, in 2016, the area was impacted with a flood event that upwardly skewed the RevPAR of all the hotels in the regional area. Therefore, we anticipate that stabilized gross revenue for the current year to approximately equal $1.4 million ($567,000 NOI), which would result in a capitalization rate of 12 percent.

Property Overview:

The Comfort Suites Port Allen is located off Interstate 10 in Port Allen, Louisiana. The hotel is equipped with several guest room amenities, such as flat screen televisions, microwaves and mini refrigerators. Also, the common area amenities include full breakfast bar with dining area, business center, exercise room, outdoor pool and on-site guest laundry.

Location Overview:

The city of Port Allen, Louisiana is located in the West Baton Rouge Parish. The city is directly across the Mississippi River Bridge from Baton Rouge, which is eight miles from Downtown Baton Rouge and five miles from Louisiana State University (LSU). Comfort Suites Port Allen is strategically located right off Interstate 10, with ideal visibility for both eastbound and westbound traffic. Also, Port Allen is home to the Greater Baton Rouge Port, which is the 10th Largest Port in the United States and is the northernmost point capable of handling Panamex ships on the Mississippi River. As a benefit, Port Allen will continue to grow from the $38 billion industrial boom, and this advantage has resulted with the announcement of expansion projects between Baton Rouge and New Orleans along the Mississippi River. Furthermore, Dow Chemical Company, ExxonMobil Chemical, and Shintech are major employers in the region.

Agent for this listing

Manish Sthanki

Associate, National Hospitality Group
Office: (225) 753-4881
Mobile: (225) 892-4181
Fax: (225) 376-6710
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