70 Room Hotel Near Lakeland International Airport

Hospitality for Sale
Catylist Listing ID: 30365642
Property Subtypes: Hotel
Building Status: Under Construction
Number of Units: 70 Units
Building Size (RSF): 47,804 SF
Gross Building Area: See Agent
Gross Land Area: 2.76 Acres
Sale Price: $11,000,000
Unit Price: $157,142.86 Per Unit
Property Use Type: Investment
Building Name: Best Western Plus
Name of Establishment: Best Western Plus
Franchised Business: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/25/2020

Overview / Comments

The Best Western Plus in Lakeland, FL has broken ground. The start date was 2/24/2020 and it is expected to be completed on 1/15/2021. This will be a 70 room 4 story hotel with a large lobby, conference room, Bistro, 2 offices, and a fitness center. The property is 2.76 acres with frontage on New Tampa HWY which is minutes from the Lakeland International Airport, I-4 and large industrial centers and retail distribution centers such as Amazon, Home Depot , and Publix . Property is priced as "at completion" and is expected to change after hotel is operational. Please see brochure for details.

Additional Details

Nearest MSA: Lakeland-Winter Haven
County: Polk
Taxing Authority: Polk County
Tax ID/APN: 23 28 21 000000 032020
Zoning: COMMERCIAL
Retail Clientele: General, Business, Traveler
Property Located Between: Orlando and Tampa
Property Visibility: Excellent
Largest Nearby Street: New Tampa HWY (92)
Feet of Frontage: 243
Traffic/Vehicle Count: 18,900
Highway Access: New Tampa HWY (92)
Airports: Lakeland
Site Description: 2.76 acres west of the Shell station. Minutes from the airport, I-4 and the Polk Parkway.
Area Description: Close to Airport, large distribution centers and retail.
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Excellent
Year Built: 2020
Construction/Siding: Block
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 990 31,839 107,309
Median Age: 64.86 41.27 39.13
Households: 579 12,993 42,582

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