Marcus & Millichap is pleased to offer the opportunity to acquire the well-maintained former Hampton Inn, a two-story, 68 key hotel. Originally built in 1995 with concrete construction and renovated in 2017 the Baymont Inn & Suites is located at a major intersection of Highway-601 and Interstate-95.The subject property experiences a very high traffic count over 10,000 vehicles per day and is located in close proximity to all restaurants and entertainment demand generators. The hotel contains an outdoor seasonal pool, fitness center, hot complimentary breakfast, Wi-Fi, and hot tub onsite. The Baymont Inn & Suites has a strong historical performance with a blended three-year revenue stream of nearly $1,175,000. During 2018, hotel revenues exceeded $1,230,000, slightly down from $1,300,000 in 2017. The Baymont Inn generates strong cash flow and is offered with a Cap Rate of nearly a 12% at $61,397 per key.
Located directly off of BUS-128 and just a short drive from I-26 (6 miles) & I-95 (25 miles) the Baymont Inn and Suites is well positioned within the state of South Carolina. From the hotel you can travel to multiple tourist destinations like Columbia located 45 miles away, Charleston 80 miles, and also Augusta Georgia 75 miles. For guests traveling from further away Orangeburg is also home to a municipal airport, and Columbia Metropolitan Airport is only 38 miles away. Charleston International Airport is 70 miles away.
Orangeburg, also known as The Garden City, is the principal city in and the county seat of Orangeburg County, South Carolina, and is the 2nd largest S.C. county by area. Located in a university and industrial market. Claflin and South Carolina State University are just a short distance from this hotel, with student bodies of 2,000 and 2,500 respectively. Orangeburg has an active job market and is home to more than 100 manufacturers and distributors and has seven industrial parks. From heavy manufacturing, to service-related facilities, to sod farms, the industrial base employs more than 8,200 workers. Companies from around the world have chosen Orangeburg County not only for its proximity to major markets and affordable commercial space, but also for its highly qualified workforce.
Orangeburg County is home to South Carolina’s Global Logistics Triangle. The Global Logistics Triangle (GLT) is a vision to transform South Carolinas Low Country into a regional gateway for the United States. Early projections show the triangular area encompassed by I-95, I-26, and U.S. 301 will become a regional inter-modal transportation center over the next decade. The GLT is a truly innovative development for distribution and light manufacturing that will create an ideal location for distribution centers and other transportation-related businesses, while sparking other economic development and job growth. Global Logistics Triangle is also an important component in the future of the Port of Charleston and the Port of Savannah.