OFFERING OVERVIEW:
DSH Hotel Advisors has been retained as the exclusive broker to market for sale the Suburban Studios by Choice Hotels, located in
Lakeland, Florida. The 138-room, three story, exterior corridor hotel is situated off US-98 & Interstate-4 and is within close proximity to several major demand generators. The subject property is approximately 36 miles from Tampa and 50 miles from Orlando. Hotel’s guest types include leisure and business travelers, construction workers, travelers on I-4, healthcare professionals, travel nurses, snow birds, Florida Southern students and their families, etc. Group business includes sports teams and fans, family reunions, wedding groups, and much more. This offering presents a unique opportunity to acquire strong-performing extended stay hotel asset within the desirable I-4 corridor.

PROPERTY CONDITION:
The subject property was built in 2000 and appears to be in good structural condition. It is estimated that the change of ownership PIP would be approximately $500,000+/-; however, that is only an estimate and would need to be verified by Choice Hotels via an issued change of ownership PIP. Current ownership has spent approximately $250,000+/- in recent renovations.


UPSIDE POTENTIAL:
The Suburban Studios by Choice Hotels is located directly off I-4 with significant upside potential remaining for a new owner-operator.
The subject property has been operating with an absentee owner and has an upcoming window of opportunity to exit the franchise. It
is estimated that current Liquidated Damages would be approximately $50,000+/-, allowing for a new owner to re-flag, rezone, re-purpose, and improve the operational performance of the property. Several national franchise brands have recently expressed interest in a conversion opportunity with key money available.


MARKET OVERVIEW:
Lakeland, Florida, nestled between Tampa and Orlando, emerges as a compelling locale for real estate investment, benefiting from
its strategic location in one of the fastest-growing regions in the United States. This vibrant city is filled with picturesque lakes and
a welcoming community, offers a unique blend of suburban charm and urban convenience, making it an attractive destination for
both residents and businesses. Lakeland’s economy is diversified, with strong sectors in logistics, healthcare, and education, anchored by prominent institutions like Publix Super Market headquarters and Lakeland Regional Health. The city’s connectivity, facilitated by major highways and proximity to international airports, boosts its appeal to logistics and distribution companies, enhancing job prospects and population growth. Additionally, Lakeland’s commitment to enhancing public spaces, revitalizing its downtown, and expanding its educational facilities reflects a proactive approach to urban development. With its robust economic fundamentals, growing job market, and quality of life, Lakeland stands out as a burgeoning market with significant potential for long-term growth and investment opportunities.

Property Highlights:
•Suburban Studios by Choice Hotels - Lakeland, FL
• 138-Rooms / 3 Stories / Exterior Corridor
• Year Built - 2000
• Situated Near Multiple Diverse Demand Generators
• Apartment-Style Suites / In-Room Kitchen
• Minimal Liquidated Damages Expected
• Several National Brands Expressed Interest for Conversion

Location Highlights:
• Situated at Junction of Interstate-4 & US-98
• 12 Miles from Lakeland Linder International Airport
• 14 Miles from Auburndale Speedway
• 31 Miles from Walt Disney World Resort
• 36 Miles from Tampa
• 50 Miles from Orlando
• Located in the Lakeland-Winter Haven Metropolitan Statistical Area

Financial Highlights:
• List Price of $10,000,000
• YE 2023 Room Revenue of $2,408,839
• YE 2023 Net Operating Income of $1,034,260
• YE 2023 Room Revenue Multiplier of 4.15x
• YE 2023 ADR / Occupancy / RevPAR of $57.04 / 83.90% / $47.86