Marcus & Millichap is pleased to offer the opportunity to acquire the Days Inn located in Downtown Albany, Georgia. This property is situated on approximately 1.47 acres in an opportunity zone, offering a new investor an opportunity to save on long term taxes. The Days Inn is 75 units situated over 2 guest floors and is offered well below replacement costs at approximately $21k/key. The Days Inn is located directly off W Oglethorpe Blvd about .8 miles from Albany State University, which enrolls over 6,000 annual undergrads. The subject property is also located in close-proximity to the Marine Corps Logistics Base, which is just 8 miles from the front door of this hotel.
The Days Inn has operated with historical revenues ranging from $440,000 and $505,000. The property will be required to be updated to current Wyndham standards and based on the the completion of the new ownership PIP we believe the subject property will increase revenues once stabilized to $600,000+. The transaction includes an additional deluxe owner’s suite.
Albany is situated along the banks of the Flint River in Southwestern Georgia in Dougherty County. The primary employers are the health care industry, education as well as the Marine Corps Logistics Base. The city is the commercial center for the southwest portion of Georgia. The well-known entertainer Ray Charles was born in Albany. Low cost, economic incentives and a favorable location have made it a minor manufacturing center, with Procter & Gamble, Miller Coors Albany Brewery and Merck among blue-chip employers. Downtown has undergone a major redevelopment on the Flint River waterfront, bringing some minor entertainment and cultural amenities. Nearby demand generators include the Albany Mall, Albany State University, Phoebe Putney Memorial Hospital, the Flint River Aquarium, as well as local shops and restaurants.