Marcus & Millichap is pleased to offer for sale a fee-simple interest in the 41-unit, Motel 6 Moss Point located in Mississippi off Highway 63. This well-appointed motel was constructed in 1999 and is being offered well below replacement costs with the ability to retain the current franchise. Simply furnished guest rooms with colorful accent walls feature Wi-Fi and flat-screen TVs. Some have microwave, minifridges, sofas and/or whirlpool tubs. Free amenities include parking and coffee in the morning.
The property is expected to generate gross revenues in excess of $1MM during 2021 and is currently operating with an occupancy rate of 72%, and ADR of $95 and a RevPAR of $68.4 per the June 2021 STR report. During the same period the competitive set for this hotel achieved 53.7% occupancy with a $54.84 ADR, generating a $29.43 RevPAR. A new operator will have unique opportunity to determine business plan for hotel following the Covid-19 Pandemic, pursue cost savings and improve cash flow.
The Motel 6 is located nearby to all major demand generators including the beaches of the Mississippi Gulf Coast, multiple casinos, Gulfport-Biloxi International Airport, the Pascagoula River and much more. The property is also nearby many major businesses, the Chevron Pascagoula Refinery is 7 miles away which provides this motel with high occupancy & rate during the annual cleaning of the facility. Last year the economic benefit of the Refinery included $925.6 million in direct local impact. Several other major corporations are in the area including Northrop Grumman, an American global aerospace and defense technology company, 3 miles away from the hotel. Ingalls Shipyard, MS Power-Plant Daniel, VT Halter Marine are also nearby.