Midway Hospitality for Sale - Gadsden County
OFFERING OVERVIEW:
DSH Hotel Advisors has been retained as the exclusive broker to market for sale the Country Inn & Suites Midway, - Tallahassee West, a Radisson-Choice Branded hotel located in Midway, Florida. The 53-room interior corridor hotel is located directly off of Interstate 10 and US -50, providing easy access to Tallahassee (15-minute commute) is approximately 8 miles from Florida State University.
PROPERTY OVERVIEW:
The subject property remains in excellent condition due to an ongoing capital improvement plan and recent renovations completed. It is estimated that the change of ownership PIP would be approximately $50,000+/-; however, this figure is a preliminary estimate. *The actual PIP requirements must be verified directly with Radisson-Choice Hotels, as they are determined solely at the franchisor’s discretion and may vary in both scope and cost. This includes, without limitation, any franchisor requirements related to a change of ownership. The Recipient is solely responsible for independently verifying all such matters.
The current owners have recently spent approximately $424,000+/- in Renovations / PIP requirements.
RENOVATIONS COMPLETED / IN PROGRESS INCLUDE:
Exterior Bldg: New Grills, Parking Lot, Dumpster area
Exterior & Interior Paint
Lobby & Breakfast Areas
Public Areas, Fitness Room
Pool & Vending Area
Laundry
Corridors & Stairwells
Corridors & Stairwells
Guest Room Carpet/LVT
Guest Room Finishes
Guest Room FF&E
Guest Bathrooms
New Roof (2024)
GADSDEN COUNTY / TALLAHASSEE:
Gadsden County is a county located in the Panhandle of Florida and is included in the Tallahassee metropolitan area. The Tallahassee Metropolitan Statistical Area consists of the Florida counties of Gadsden, Jefferson, Leon and Wakulla. Tallahassee is located approximately 10 minutes away and is home to two of Florida’s major public universities, Florida State University and Florida A&M University, as well as Tallahassee Community College. Together these institutions have a combined enrollment of more than 70,000 students annually.
Property Highlights:
~ Country Inn & Suites by Radisson
~ 53-Rooms | 2 Stories | Interior Corridor
~ 2005 Construction
~ 5.1+/- Acres of Land in Total - Adjacent Lot Included in Sale
~ Ideal Room Count for an Owner-Operator
~ Minimal Change of Ownership PIP* - $424,000+/- in Recent Renovations
~ On-Site Amenities Include an Outdoor Pool, Breakfast Seating Area, Fitness Center, Business Center, and High-Speed Internet
*The actual PIP requirements must be verified directly with Radisson-Choice Hotels, as they are determined solely at the franchisor’s discretion and may vary in both scope and cost. This includes, without limitation, any franchisor requirements related to a change of ownership. The Recipient is solely responsible for independently verifying all such matters.
Location Highlights:
~ Situated Directly off US-90 & Interstate-10
~ 8 Miles from Florida State University
~ 10 Miles from Florida State Capitol
~ Located in the Tallahassee Metropolitan Statistical Area
Financial Highlights:
~ List Price of $4,595,000
~ YE 2025 RRM of 4.01x
~ YE 2025 Room Revenue of $1,144,918
~ YE 2025 Net Operating Income of $366,468**
~ YE 2025 ADR / Occ / RevPAR: $94.96 ADR / 62.33% Occ / $59.19 RevPAR
~ YE 2024 Comp Set ADR / Occ / RevPAR: $123.27 ADR / 67.4% Occ / $83.03 RevPAR
~ Year 1 Projected Room Revenue of $1,339,788
**This is an estimate based on expense ratios taken from the YE 2024 P&Ls
