STAYBRIDGE SUITES
1600 Summit lake Dr, Tallahassee, FL 32317
NOI
$1,700,000
Cap Rate
9.2%
RRM
3.95X
Price
$18,500,000
Year Built
2007/2023
Rooms
104
Stories
4
INVESTMENT HIGHLIGHTS
4 Story Building
High Cap Rate
I-10 Location
close to Florida State University
Major renovation completed in 2023
Strategic location & high barrier to entry
- Minimal Capital Improvements
- Staybridge Suites by IHG is a highly regarded brand among both investors and travelers.
- Offered below replacement costs
- The hotel benefits from limited direct competition, with no comparable extended-stay properties in the immediate vicinity, creating a distinct competitive advantage. * The property is outperforming its competitive set, achieving an Occupancy Index of 109.3%, an ADR Index of 102.8%, and a RevPAR Index of 112.4%. * Strong seasonal demand is driven by Florida
INVESTMENT OVERVIEW
- Mazili Hotel Group is pleased to present the fee simple interest in the 104-room Staybridge Suites Tallahassee Interstate-10 East, located in Tallahassee, Florida. This four-story, limited-service hotel is situated just off Summit Lake Drive with convenient access to Interstate-10, offering excellent visibility and connectivity along Tallahassee’s primary transportation corridor. The property provides investors with the opportunity to acquire a well-positioned, 104-room asset backed by strong brand recognition. Demand is supported by a diverse mix of generators, including nearby government offices, prominent universities such as Florida State University, Florida A&M University, and Tallahassee State College, as well as local healthcare facilities. Its strategic location along Interstate-10 further enhances accessibility and long-term investment appeal.
LOCATION HIGHLIGHTS
- The property is located in the Summit Lake area of Tallahassee, known for its upscale and professional atmosphere.
- Summit Lake is home to various corporate offices, including the headquarters of TechSolutions Inc. and the regional office of Bank of Tallahassee.
- The area boasts easy access to major highways, such as Interstate 10, making it convenient for commuters and clients alike.
- Summit Lake is surrounded by well-maintained green spaces, including Lakefront Park and Summit Gardens, offering a peaceful environment for employees and visitors.
- Nearby amenities include popular dining options like The Summit Bistro and Café, providing convenient options for business meetings and lunches.
Exclusive Advisors
About Us
Mazili Hotel Group is a premier hotel brokerage firm focusing solely on hospitality brokerage. Founded in 2000, Julian Mazili and his team of professional hotel brokers serve private and institutional clients worldwide. Clients lean on our extensive experience and knowledge in the industry to achieve maximum success for their investment. Our commitment to our clients is unparalleled. We serve and guide our clients through the whole process from first visit to the closing process. our knowledge and expertise in the industry allows us to navigate through the brokerage process with ease, from assisting with securing financing to working with third party companies.