Marcus & Millichap is pleased to offer for sale a fee simple interest in the Fairfield Inn & Suites located in Cordele, GA. This well-appointed contains 69 guest rooms spread out over 3 stories. Built in 2007, the property will be subject to a Change of Ownership renovation to be completed by a new investor. The subject property has a blended 3-year average of approximately $1,500,000 with an attractive NOI percentage of 25%. The meeting room is an additional revenue source and is ideal for business travelers, it accommodates up to 100 people for banquets and 130 people for conferences. The Fairfield Inn earns a 3.5 out of 5 Star rating per TripAdvisor and was rated #7 of 16 hotels in Cordele, Georgia
The Fairfield Inn & Suites offers premium amenities, such as an indoor pool, business center, meeting space and complimentary breakfast and Wi-Fi. The property has already undergone an exterior renovation and no further exterior work will be by a new licensee with Marriott International. The CMBS debt in place must be assumed and is offered with a 1% assumption fee and only 5.5% interest, offering a new investor with an outstanding loan to value percentage.