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domainslofty@gmail.com +1(805) 243-3301

$ 2,000,000

Est. payment | -/mo

25 Beds

25 Baths

8,432 SqFt

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$ 2,000,000

Est. payment | -/mo

Save Virtual Tour

25 Beds

25 Baths

8,432 SqFt

Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Square Footage 8,432 sqft

Price per Sqft $237

MLS Listing ID SA358865

Bedrooms 25

Full Baths 25

HOA Y/N No

Year Built 1952

Lot Size 2.426 Acres

Acres 2.426

Property Sub-Type Hotel/Motel

Source SAV

Property Description

Rare opportunity to acquire a 25-unit extended-stay motel/apartment complex with significant income potential on highly visible Ogeechee Rd/Hwy US-17. Situated on approximately 2.43 acres with commercial road frontage, this well established, family owned property consists of 25 fully furnished one-bedroom, one-bathroom units. Each unit features a private entrance, private bath and a fully equipped kitchen with full sized refrigerator. All furnishings convey with the sale. Potential gross income exceeds $373,000 annually based on weekly rental rate model at full occupancy, or approximately $357,000 annually as monthly rentals. Currently there is a mixture of weekly, biweekly, and monthly tenants, many whom are well established, long term residents. A minimum six month stay is required. Operational advantages include private wells resulting in no water bills, no city taxes, and no flood insurance requirement. A current motel business license is in place. Conveniently located near Berwick Community, Chatham Parkway, major employers, shopping, dining, and easy interstate access/transportation routes. This income producing property offers both immediate cash flow and long term appreciation potential. Positioned in a rapidly growing area, the property is surrounded by ongoing, residential, commercial, and infrastructure development, creating future opportunities for increased demand, rental growth, and overall property appreciation.. Some furnishings in photographs may have been replaced and are subject to change.

Location

State GA

County Chatham

Zoning AT

Direction E Derenne Ave to GA-21/I-516 W, take exit 2 Veteran's Pkwy, Take Chatham Parkway exit follow signs to US-17, Turn Left on US-17/Ogeechee Rd. Property on left 1.5 miles with Red/rust colored privacy fence. Laurel Lodge sign

Rooms

Other Rooms Outbuilding, Other, Shed(s), Storage

Interior

Heating Electric, Gas, Other, Wall Furnace

Cooling Electric, Window Unit(s)

Furnishings Furnished

Appliance Electric Water Heater, Gas Water Heater

Exterior

Exterior Feature Fence, Other

View Panoramic

Roof Type Asphalt,Composition,Metal,Other

Accessibility Low Threshold Shower

Building

Story 1

Entry Level One

Foundation Concrete Perimeter, Other, Raised

Water Private, Well

Level or Stories 1

Structure Type Fence,Other

Others

Tax ID 1095603008

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Virtual Tour https://www.propertypanorama.com/instaview/sav/SA358865

Hive MLS / Savannah / Classic / (NCRMLS) / Cape Fear Realtors

Listed by Re/Max Savannah

Nearby Locations

Lofty Support

+1(805) 243-3301 | domainslofty@gmail.com

5013 Ogeechee RD Savannah, GA 31405

Lofty Support

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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5013 Ogeechee RD