– 2021 has been a banner year for this property
– Limited competition (mostly older hotels) and no proposed hotels currently in the pipeline
– NOI is over $634,000 for first 9 months on 2021
– NOI already higher than 2019
– Property’s 2021 Occupancy is 70.6%
– Indoor Pool and Hot Tub
– Breakfast Room and Fitness Center
– 3.86 Acres of land
– Estimated gross in 2021 is $1.7 million
– Actual 2021 cap rate is 13% based on projected year end NOI
– Price Per Key: $110,169.
– Presented by AMHB Member: Alex Kovacs