travelodge by wyndham juneau€¦ · travelodge by wyndham juneau 8 property summary the offering...

TRAVELODGE BY WYNDHAM JUNEAU9200 Glacier Hwy • Juneau, AK 99801

Offering Memorandum

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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

TRAVELODGE BY WYNDHAM JUNEAU

Juneau, AK

ACT ID ZAA0140358

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TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02

STR

Historical P&L

5 Year Pro Forma

MARKET COMPETITORS 03

Competitor Data

MARKET OVERVIEW 04

Demographic Analysis


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INVESTMENT

OVERVIEW


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EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

US Army Recruiting Battalion 907

Central Council Tlingit and Ha 841

Coeur Alaska Inc 767

Bartlett Regional Hospital 400

Hecla Greens Creek Mining Co 345

Alaska Highway Cruises 300

Transportation and Public 296

Fred Meyer Jewelers 00158 248

Construction & Design 200

UAS Juneau 200

Cornerstone Home Health Inc 180

Searhc 160

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2018 Estimate Pop 2,734 18,048 22,250

2010 Census Pop 2,622 17,155 21,035

2018 Estimate HH 1,018 6,502 7,838

2010 Census HH 987 6,220 7,475

Median HH Income $82,948 $88,681 $90,252

Per Capita Income $42,758 $39,420 $39,593

Average HH Income $112,935 $108,309 $110,513

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VITAL DATA

CURRENT YEAR 1

Price $7,000,000 CAP Rate 4.29% 5.29%

PIP $86,000 Net Operating Income $157,024 $370,424

Down Payment 100% / $7,000,000 Net Cash Flow After Debt Service 2.20% / $157,024 5.29% / $370,424

Loan Type All Cash Total Return 2.20% / $157,024 5.29% / $370,424

Price/Room $81,395

Ownership Type Fee Simple

Number of Rooms 86

Rentable Square Feet 62,511

Number of Buildings 1

Number of Stories 4

Year Built 1986

Lot Size 2.29 acre(s)


OFFERING SUMMARY

▪ Ideally Located - Directly Across from Juneau International Airport

▪ Well Maintained Property

▪ Ideal Owner Operator

▪ Upside of Operational Efficiency for Buyer

▪ Well Below Replacement Cost

▪ SBA and Conventional Financing Available

INVESTMENT HIGHLIGHTS

Marcus & Millichap has been chosen to exclusively market for sale the Travelodge Juneau Alaska, a four-story full-service hotel located directly across from Juneau

International Airport and less than eight miles from downtown Juneau and cruise terminal. The hotel consists of 86 interior corridor rooms with excellent visibility and

signage on Glacier Highway. Amenities include restaurant & bar, banquet area, meeting rooms, 24-hour front desk service, airport shuttle, business center, fitness center,

indoor pool, complimentary hot breakfast and RV Parking. Each guest room is equipped with flat screen television with HBO cable, work desk with lamp, coffee/tea maker

and complimentary Wi-Fi.

INVESTMENT OVERVIEW

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OFFERING SUMMARY

PROPERTY OVERVIEW

Nestled in the Alaska panhandle, between the Gulf of Alaska and British Columbia, the Juneau area is almost as

large as the states of Rhode Island and Delaware put together. At 3,255 square miles, of which 14 square miles

are urban, it is the second largest city by area in the US. The city is many things: a mountain town, a coastal

community and the most scenic capital city in the United States. It is not only Americas Last Frontier, but also a

natural wonder, wildlife hotspot and cultural jewel. It is rich in history, art, music and Native heritage; an outdoor

enthusiasts paradise, a shoppers trove and a food lovers dream - not just the state capital, but the beating heart

of Southeast Alaska. Over two million tourists visit Alaska each year, over 800,000 of which are Juneau visitors,

to experience its stunning, natural beauty, including glaciers, national parks and the tallest mountain in North

America, Denali (formerly Mount McKinley). Juneau is the most visited city in Alaska, with visitors contributing

over 25% of Juneaus annual sales tax, and attributes much of its revenue and employment to the visitor and

tourism industry.

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▪ Fitness Center

▪ Restaurant/Lounge

Common Area Amenities

▪ Banquet Room (up to 110 guest)

▪ Meeting Rooms

▪ Swimming Pool

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OFFERING SUMMARY


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PROPERTY SUMMARY

THE OFFERING

Property Travelodge by Wyndham Juneau

Price $7,000,000

Property Address 9200 Glacier Hwy, Juneau, AK

Assessors Parcel Number 5B1601020121

Zoning LC - Light Commercial

SITE DESCRIPTION

Number of Rooms 86

ADA Rooms 3

Number of Stories 4

Year Built/Renovated 1986

Ownership Type Fee Simple

Lot Size 2.29 acre(s)

Parking 177

CONSTRUCTION

Foundation Concerte

Framing Wood

Exterior Stucco

Roof New in 2017

MECHANICAL

HVAC Rooms have individual electric heat

Elevators 2

Fire Protection Yes - Sprinklers

ROOM TYPES

NUMBER OF ROOMS ROOM TYPE

11 Queen

66 Double

6 King

3 ADA Compliant

PROPOSED FINANCING

FIRST TRUST DEED

Loan Type All Cash

SECOND TRUST DEED

Loan Type All Cash

REGIONAL MAP


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LOCAL MAP


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AERIAL PHOTO


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Marcus & Millichap closes

more transactions than any

other brokerage firm.

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PROPERTY PHOTO


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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


STR

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FINANCIAL ANALYSIS


HISTORICAL P&L

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FINANCIAL ANALYSIS


HISTORICAL P&L

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FINANCIAL ANALYSIS


5 YEAR PRO FORMA

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FINANCIAL ANALYSIS


5 YEAR PRO FORMA

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MARCUS & MILLICHAP CAPITAL CORPORATION

CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution, and

unparalleled access to capital sources providing the most competitive rates and

terms.

We leverage our prominent capital market relationships with commercial banks,

life insurance companies, CMBS, private and public debt/equity funds, Fannie

Mae, Freddie Mac and HUD to provide our clients with the greatest range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National platform

operating

within the firm’s

brokerage

offices

6.24 billion

billion total

national

volume in 2018

Access to

more capital

sources than

any other firm

in the industry

Optimum financing solutions

to enhance value

Our ability to enhance

buyer pool by expanding

finance options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage buyers

finance expectations

• Ability to monitor and

manage buyer/lender

progress, insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,678

debt and equity

financings

in 2018

ACQUISITION FINANCING


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MARKET

COMPETITORS


(SUBJECT)

HOTEL/MOTEL ADDRESS NUMBER OF ROOMS OPEN DATE MILES TO SUBJECT

Best Western Country Lane Inn 9300 Glacier Hwy Juneau, AK 99801 55 06/1983 0.1

Super 8 Juneau 2295 Trout St Juneau, AK 99801 72 12/1983 0.3

Four Points by Sheraton Juneau 51 Egan Dr Juneau, AK 99801 106 06/1975 7.8

Westmark Baranof Hotel 127 N Franklin St Juneau, AK 99801 196 06/1935 7.8

Extended Stay America - Juneau 1800 Shell Simmons Dr Juneau, AK 99801 95 05/2000 0.2

COMPETITIVE SET MAP

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2

3

4

5


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MARKET

OVERVIEW

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2018 Experian

Created on July 2019

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Population 2,758 18,282 22,593

▪ 2018 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2018 Estimate 4,716 15,749 17,867

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Households 1,044 6,665 8,050

▪ 2018 Estimate

Total Households 1,018 6,502 7,838

Average (Mean) Household Size 2.58 2.75 2.74

▪ 2010 Census

Total Households 987 6,220 7,475

▪ 2000 Census

Total Households 930 5,896 7,048

HOUSING UNITS 1 Miles 3 Miles 5 Miles

▪ Occupied Units

2023 Projection 1,044 6,665 8,050

2018 Estimate 1,054 6,740 8,136

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2018 Estimate

$200,000 or More 8.76% 6.45% 7.01%

$150,000 - $199,000 5.11% 10.61% 10.69%

$100,000 - $149,000 25.46% 25.17% 25.67%

$75,000 - $99,999 15.44% 17.57% 17.36%

$50,000 - $74,999 15.73% 16.76% 16.74%

$35,000 - $49,999 11.47% 10.48% 10.25%

$25,000 - $34,999 5.31% 4.45% 4.42%

$15,000 - $24,999 4.84% 4.63% 4.34%

Under $15,000 7.88% 3.91% 3.51%

Average Household Income $112,935 $108,309 $110,513

Median Household Income $82,948 $88,681 $90,252

Per Capita Income $42,758 $39,420 $39,593

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 1,835 11,745 14,602

Elementary (0-8) 1.48% 1.40% 1.33%

Some High School (9-11) 1.80% 2.84% 3.02%

High School Graduate (12) 24.11% 23.46% 23.77%

Some College (13-15) 33.75% 31.62% 30.55%

Associate Degree Only 7.34% 7.12% 6.94%

Bachelors Degree Only 24.06% 24.56% 24.68%

Graduate Degree 7.41% 8.84% 9.53%

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Income

In 2018, the median household income for your selected geography is

$82,948, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 60.04%

since 2000. It is estimated that the median household income in your

area will be $100,574 five years from now, which represents a change

of 21.25% from the current year.

The current year per capita income in your area is $42,758, compare

this to the US average, which is $32,356. The current year average

household income in your area is $112,935, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 2,734. The

population has changed by 5.40% since 2000. It is estimated that the

population in your area will be 2,758.00 five years from now, which

represents a change of 0.88% from the current year. The current

population is 51.48% male and 48.52% female. The median age of

the population in your area is 35.25, compare this to the US average

which is 37.95. The population density in your area is 865.41 people

per square mile.

Households

There are currently 1,018 households in your selected geography. The

number of households has changed by 9.46% since 2000. It is

estimated that the number of households in your area will be 1,044

five years from now, which represents a change of 2.55% from the

current year. The average household size in your area is 2.58 persons.

Employment

In 2018, there are 5,352 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

60.27% of employees are employed in white-collar occupations in

this geography, and 41.29% are employed in blue-collar occupations.

In 2018, unemployment in this area is 4.35%. In 2000, the average

time traveled to work was 15.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

60.58% White, 1.96% Black, 1.92% Native American and 9.99%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 7.50% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $287,921 in 2018,

compare this to the US average of $201,842. In 2000, there were 555

owner occupied housing units in your area and there were 376 renter

occupied housing units in your area. The median rent at the time was

$805.

Source: © 2018 Experian

DEMOGRAPHICS

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DEMOGRAPHICS

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www.MarcusMillichap.com

P R E S E N T E D B Y

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Stanley Wang

National Hospitality Group

Los Angeles Office

Tel: (213) 943-1970

Cell: (586) 668-1114

[email protected]

Licenses: CA 02055241

travelodge by wyndham juneau€¦ · travelodge by wyndham juneau 8 property summary the offering...

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