baymont inn & suites...baymont inn & suites 474 western boulevard jacksonville, nc 28546...
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BAYMONT INN &SUITES474 WESTERN BOULEVARDJACKSONVILLE, NC 28546
Sanjay [email protected]
Kevin MishraVice [email protected]
Bryan [email protected]
SVN | HOTELS | 1001 WADE AVENUE, SUITE 111, RALEIGH, NC 27605 OFFERING MEMORANDUM
PROPERTY INFORMATION 3Property SummaryComplete Highlights
LOCATION INFORMATION 6Regional MapLocation MapsAerial MapCity InformationJacksonville Tourism Development AuthorityJacksonville Tourism Development AuthorityJacksonville Tourism Development AuthorityCompetition Map
FINANCIAL ANALYSIS 15Income & ExpensesUnit Mix Summary
DEMOGRAPHICS 18Demographics MapAdditional PhotosBack Page
OFFERING MEMORANDUMBAYMONT INN & SUITES | 474 WESTERN BOULEVARD , JACKSONVILLE, NC 28546
1 PROPERTYINFORMATION
474 Western BoulevardJacksonville, NC 28546
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 3
OFFERING SUMMARY
Sale Price: $5,600,000
Cap Rate: 17.69%
NOI: $990,893
Lot Size: 3.87 Acres
Year Built: 1989
Building Size: 53,478 SF
Renovated: 2019
Zoning: B 1
Traffic Count: 35,000
Price / Room: $54,310
The subject hotel is a 2 story, exterior corridor, limited service hotel with 116 guest rooms and suites.The property was originally built as a Hampton Inn & Suites in 1989 and was converted to a Baymont in2009. The property has been maintained exceptionally well and has undergone an extensive renovationover the last 8 months.
The hotel is located in Jacksonville North Carolina which is home to Marine Corps Base Camp Lejeuneand Marine Corps Air Station New River. The property sits on the corner of Western Boulevard and NMarine Boulevard, one of North Carolina's busiest intersections. Roughly 35,000 cars pass through thisretail corridor a day.
PROPERTY OVERVIEW
Property Summary
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE HIGHLIGHTS
• Located in a Military Market
• Revenues are trending upward - More than $2 million in revenue
- (TTM July 2019)
• Major Renovations have been completed in the recent months
- Approximately $300k in Capital Expenditures
• Minimal Change of Ownership Property Improvement Plan
• $5,000 transfer fee to the new buyer
• The building is structurally sound - Concrete and Steel built
• Excellent opportunity for a an owner / operator
• SBA 7 (a) loan available to the new buyer
• This property is the right brand and offers the appropriate rate for
the market
• The City of Jacksonville is using the occupancy tax to promote the
city and attracting new clientele (Tourism Promotion Fund)
Complete Highlights
2 LOCATIONINFORMATION
474 Western BoulevardJacksonville, NC 28546
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 6
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Regional Map
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Maps
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Baymont Inn & Suites
Aerial Map
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
JACKSONVILLE
Jacksonville is a military town located in southeastern North Carolina. It sits on themouth of the New River which flows to the Atlantic Ocean. It is home to Marine CorpsBase Camp Lejeune and New River Air Station. Camp Lejeune sits on approximately156,000 acres.
Most of Jacksonville's population in associated with the base with active dutypersonnel, dependents, retirees, and civilian employees. The town is very dependenton the base and serves as the largest demand generator.
LOCATION DETAILS
County Onslow
Onslow County Population 170,355
Jacksonville Population 70,145
City Information
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Jacksonville Tourism Development Authority
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Jacksonville Tourism Development Authority
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Jacksonville Tourism Development Authority
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 14The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Competition Map
3 FINANCIALANALYSIS
474 Western BoulevardJacksonville, NC 28546
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 15
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
INCOME SUMMARY TRAILING TWELVE AUGUST 2019 2018
Rooms $2,177,345 $1,578,996Telephone $27 $30MISC $45,887 $31,143Meeting & Catering $202 $550
Gross Income $2,223,461 $1,610,719
EXPENSE SUMMARY TRAILING TWELVE AUGUST 2019 2018
Rooms $538,921 $458,221Telephone $8,077 $7,404MISC $0 $0Meeting & Catering $0 $0Admin & General $164,082 $134,663Advertising & Promotion $73,566 $49,025Maintenance & Repair $70,225 $75,423Utilities $133,690 $119,081Management Fees $88,805 $48,322Property & Liability Insurance $26,908 $23,062Property & Other Taxes $30,163 $30,244Royalty Fees $98,131 $73,098
Gross Expenses $1,232,568 $1,018,543
Net Operating Income $990,893 $592,176
Income & Expenses
UNIT MIX SUMMARY
Room Type Number of Rooms % Total
King 49 42.2
Double / Double 63 54.3
Suite 4 3.4
116 Table Totals
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 17The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Unit Mix Summary
4DEMOGRAPHICS
474 Western BoulevardJacksonville, NC 28546
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 18
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 19The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 5 MILES 10 MILES
Total population 3,086 76,081 137,601
Median age 27.3 27.0 26.6
Median age (Male) 24.6 26.0 25.6
Median age (Female) 31.3 28.3 27.8
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 1,226 27,736 44,100
# of persons per HH 2.5 2.7 3.1
Average HH income $48,151 $54,282 $54,036
Average house value $172,242 $166,952 $157,900
ETHNICITY (%) 1 MILE 5 MILES 10 MILES
Hispanic 7.8% 11.1% 10.9%
RACE (%)
White 51.8% 64.1% 67.8%
Black 37.0% 23.1% 19.7%
Asian 3.2% 2.7% 2.4%
Hawaiian 0.3% 0.3% 0.3%
American Indian 0.1% 0.7% 0.8%
Other 3.5% 5.0% 5.1%
* Demographic data derived from 2010 US Census
Demographics Map
BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 20The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
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