OFFERING OVERVIEW:
DSH Hotel Advisors has been retained as the exclusive broker to market for sale the Quality Inn Lake City by Choice Hotels, located in Lake City, Florida. The 55-room interior corridor hotel is situated directly off of Interstate-75 within close proximity to several major demand generators.


PROPERTY CONDITION:
The subject property was built in 1999 and is in good condition due to an ongoing capital improvement plan. In recent years, renovations totaling $600,000+/- were completed on the property, including updates on the following items:
• New Bathtubs, Bath Floors, Safety Bars
• Replaced Fence
• New Paint in Guest Rooms and Hallways
• New Central HVAC, Unit & Guest Room AC
• New Direct TV Equipment in Guest Rooms
• New Lighting in Guest Rooms & Common Areas
• Landscaping/Tree Removal
• Resurface Swimming Pool
• New Fitness Center Equipment
• New Lighting Parking Lot/Exterior
• New Flooring in Lobby, Front Desk, Breakfast Area
• New Water Heater Tank
• New Washer & Dryer (2)
dates on the following items:
• New Bathtubs, Bath Floors, Safety Bars
• Replaced Fence
• New Paint in Guest Rooms and Hallways
• New Central HVAC, Unit & Guest Room AC
• New Direct TV Equipment in Guest Rooms
• New Lighting in Guest Rooms & Common Areas
• Landscaping/Tree Removal
• Resurface Swimming Pool
• New Fitness Center Equipment
• New Lighting Parking Lot/Exterior
• New Flooring in Lobby, Front Desk, Breakfast Area
• New Water Heater Tank
• New Washer & Dryer (2)
• New Ice Machines (2)
• New Wifi Security System
• New Desk Chairs in Guest Room and Meeting Room
• Water Shut Off Valves - All Floors
• Resurface Parking Lot
• New Paint in Bathrooms
• Updated TV & Refrigerators
• New Roof (2020)
• New Fire System
• New RFID Locks
• New Carpet and Padding Throughout Hotel
• New Quality Inn Signage

MARKET OVERVIEW:
The subject property located in Lake City, FL is conveniently located adjacent to Interstate-75. Lake City has long been known as “The Gateway to Florida” as it sits approximately 64 miles from Jacksonville, 46 miles from Gainesville, and 104 miles from Tallahassee. Lake City is the northernmost sizable city in Florida on Interstate-75 and carries a large percentage of Florida’s tourist and commercial traffic. Lake City and its natural beauty and outdoor activities is a natural theme park for outdoor enthusiasts, festival goers, music lovers, or those simply wanting to spend a little time in a quiet and tranquil setting. With crystal-clear freshwater springs, history, culture, various music festivals, and an abundance of outdoor activities, Lake City attracts visitors year-round.

Property Highlights:
• Quality Inn by Choice Hotels - Lake City, FL
• 55-Rooms / 3 Stories / Interior Corridor
• Year Built - 1999
• $600,000+/- in Recent Renovations
• Amenities Include: Outdoor Pool, Fitness Center, Business Center,
Free Continental Breakfast


Location Highlights:
• Situated Directly Off of Interstate 75
• Located Near Multiple Diverse Demand Generators
• Lake City is known as the “Gateway” to Florida
• 26.3 Miles to Spirit of Suwannee Music Park
• 40 Minutes from Gainesville, FL
• 60 Minutes from Jacksonville, FL
• 90 Minutes from Tallahassee, FL


Financial Highlights:
• List Price of $4,950,000
• YE 2023 Room Revenue of $1,306,107
• YE 2023 Net Operating Income of $468,533
• YE 2023 Room Revenue Multiplier of 3.79x
• YE 2023 ADR / Occupancy / RevPAR of $93.78 / 68.74% / $64.46