baymont inn & suites...baymont inn & suites 474 western boulevard jacksonville, nc 28546...

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BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 [email protected] Kevin Mishra Vice President 919.789.5215 [email protected] Bryan Robbins Advisor 919.913.1437 [email protected] SVN | HOTELS | 1001 WADE AVENUE, SUITE 111, RALEIGH, NC 27605 OFFERING MEMORANDUM

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Page 1: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 2: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 3: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

1 PROPERTYINFORMATION

474 Western BoulevardJacksonville, NC 28546

BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 3

Page 4: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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.

Page 5: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 6: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

2 LOCATIONINFORMATION

474 Western BoulevardJacksonville, NC 28546

BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 6

Page 7: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 8: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 9: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 10: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 11: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 12: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 13: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 14: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 15: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

3 FINANCIALANALYSIS

474 Western BoulevardJacksonville, NC 28546

BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 15

Page 16: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 17: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 18: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

4DEMOGRAPHICS

474 Western BoulevardJacksonville, NC 28546

BAYMONT INN & SUITES | 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 SVN | Hotels | Page 18

Page 19: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 20: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

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

Page 21: BAYMONT INN & SUITES...BAYMONT INN & SUITES 474 WESTERN BOULEVARD JACKSONVILLE, NC 28546 Sanjay Mundra CEO 919.573.8638 sanjay.mundra@svnhotels.com Kevin Mishra Vice President 919.789.5215

All SVN® Offices Independently Owned & Operated | 2019 All Right Reserved

1001 Wade Avenue, Suite 111Raleigh, NC 27605

919.573.8638svnhotels.com