701 St Francis StMobile, AL 36602

Property Details for 701 St Francis St

Year built

1998

Lot size

1.94 AC

Property size (Sq ft)

44,360 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This 77-key hotel in Mobile, AL, offers a compelling investment opportunity. Built in 1998 and featuring 44,360 square feet across three stories, this property sits on a 1.94-acre lot (APN: 32-09-37-0-002-001.082) at 701 St Francis St, Mobile, AL 36602. The hotel boasts a current Net Operating Income (NOI) of $528,457, with an asking price of $8,000,000, resulting in a 6.05% capitalization rate. The current occupancy rate is 51.03%. A significant property improvement plan (PIP) was completed in 2024. While the occupancy rate is currently below the market average, the hotel's average daily rate (ADR) of $101.99 presents significant upside potential compared to the market average of $128.89. Strategic adjustments to pricing, marketing, and guest experience could substantially improve revenue per available room (RevPAR) and occupancy. The seller is open to considering seller financing with 30% to 35% down payment for a three-year term, offering a potentially attractive acquisition strategy. The Mobile MSA benefits from significant ongoing infrastructure projects, including a billion-dollar bridge project, and a strong employment base anchored by major employers such as Infirmary Health, Collins Aerospace, and the Baldwin County Board of Education. This presents a unique chance to acquire a well-located hotel with substantial growth potential in a dynamic market.

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6894

Longitude

-88.0518

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