- 129-Room, Exterior Corridor, Economy Hotel
- Well Positioned with Excellent Visibility from the Highway 165 and 594 Corridor
- Near Several Room Demand Generators: University of Louisiana at Monroe and Pecanland Mall
- Absentee, Out-of-State Owner
- Property Located in the Opportunity Zone
- Less Than Three Miles from Monroe Regional Airport
- 110.5 RevPar Index for July 2020
Marcus & Millichap’s National Hospitality Group, as exclusive representative of the seller, is pleased to present for sale to qualified investors the Motel 6 – Monroe. The G6 Hospitality-branded hotel is offered on a call for offers basis.
The property sits on 2.3 acres in the eighth largest city in Louisiana. In addition, the hotel is adjacent to Interstate 20 which connects major metropolitan areas between Atlanta and Dallas, with an daily average traffic count of over 61,500 vehicles per day. Post-COVID, this traffic count is expected to grow.
This two-story, 129-room hotel presents the opportunity to acquire a value-add asset less than two miles from the University of Louisiana-Monroe (ULM). The university has an average annual enrollment of over 9,100 students and has given over 72,000 academic degrees for undergraduate, graduates and continuing education students. In the Spring of 2020, ULM has the largest graduating class in its 89-year history. Founded in 1931, the campus sits on 238 acres and is one of only two pharmacy schools in the state of Louisiana. ULM also participates in the Sunbelt Conference for all major sports, since July 2006. The JPS Field at Malone Stadium, opened in 1978, seats over 30,000
The property is located in an Opportunity Zone, the new community development program established by Congress in the Tax Cuts and Jobs Act of 2017. The new law provides for a federal tax incentive for investors to reinvest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas. Investors are advised to further consult their tax advisors for more details. An investor, as owner operator, can furthermore maximize profits through reduction in management/labor costs, currently hovering close to 40 percent of revenue.
The seller is currently operating the property out-of-state, absentee. The expenses include provisions for a 4 percent capital replacement. The hotel is offered fee simple, unencumbered by a management contract or debt.
The Motel 6 Monroe is an economy, G6 Hospitality-branded property with 129 rooms spread throughout two stories. The hotel was built in 1984 and the current owner recently renovated approximately 20 rooms by replacing the case good and flooring. The common area amenities include a coined laundry facility, vending machines and an outdoor pool. Each guestroom features a flat-screen television.
Monroe, Louisiana is in the northeastern part of the state and the economic development for the city offers several incentives to local businesses in the region. In August 2020, companies within the city such as Pipeline Project Services, energy, and NetTech, information technology management, made the Inc. 5000 list of fastest-growing businesses which is a testament to the region's dedication to development. Also due to the recent Hurricane Laura, a drive-thru Disaster Recovery Center opened in Quachita Parish at the Monroe Civic Center and will bring traffic to the region. Additional demand generators include the Pecanland Mall and the West Monroe Convention Center. The Glenwood Regional Medical Center and Medical Mall is a 278-bed facility and part of the Steward Health Care which is part of the largest private, tax-paying physician-led health care networks in the United States. Travelers have direct access to the Monroe Regional Airport located nearby the hotel.