745 Cobb Place Blvd, Kennesaw, GA 30144
98 Room Hotel | Kennesaw, GA 30144 | $18,000,000 ($183,673/Room) | 9.74% Cap Rate
For Sale
Active
Asking Price $18,000,000
- Property Type
-
Hospitality
- Square Feet
- 54,158 SF
Listing Contacts
Christian Swann
Property Overview
Introducing Candlewood Luxury Extended Stay Suites by IHG, a newly constructed property with an exciting opportunity to be the first operator. This five-story interior corridor hotel offers 98 luxury extended stay suites in the prime location of Kennesaw, within the Atlanta MSA, making it a strategic acquisition opportunity. Each suite at Candlewood comes equipped with a full-sized refrigerator, dishwasher, microwave, and stove, making it the perfect home away from home for guests. The property also boasts strong proforma projections and is Certified Green, giving you peace of mind that your investment is sustainable. With a total of 54,185 square feet, this luxury hotel is the perfect asset for those in the hospitality industry looking to expand their portfolio. 745 Cobb Place Boulevard NW is pet-friendly, and its amenities include free self-laundry facilities, full-service housekeeping, high-speed Wi-Fi, an outdoor gazebo grill, a business center, a fitness center, a pool, and more.
This is a rare opportunity to operate a luxury extended stay hotel at the junction of Interstate 75 and Highway 575. Kennesaw is a suburban city with all the charm of a small town near an array of big-city amenities. The hotel is close to significant demand generators, including Town Center Shopping Mall, Lakepointe Sports Campus, the Barrett Pavilion Shopping Mall, the Dobbins Airforce Base, and Kennesaw State College. The hotel is just 30 minutes from Trilith Studios, the second-largest movie studio in the world. The Hartsfield-Jackson Atlanta International Airport is also near Kennesaw, allowing for easy travel.
The Candlewood Suites brand is an extended stay concept designed to offer a relaxed, casual, apartment-like experience at a comfortable value. Appealing to corporate, industrial, and government markets, the brand is popular with travelers involved in long-term professional engagements. As demand continues to grow, so does the brand’s loyal customer base. This Candlewood Suites stabilized revenue is projected to exceed $4 million by 2026 with strong cash flow via high-end finishes and hotel amenities ($4,200,000/$114 RevPAR).
Take advantage of this exciting opportunity to become the first operator at Candlewood Luxury Extended Stay Suites by IHG.
This is a rare opportunity to operate a luxury extended stay hotel at the junction of Interstate 75 and Highway 575. Kennesaw is a suburban city with all the charm of a small town near an array of big-city amenities. The hotel is close to significant demand generators, including Town Center Shopping Mall, Lakepointe Sports Campus, the Barrett Pavilion Shopping Mall, the Dobbins Airforce Base, and Kennesaw State College. The hotel is just 30 minutes from Trilith Studios, the second-largest movie studio in the world. The Hartsfield-Jackson Atlanta International Airport is also near Kennesaw, allowing for easy travel.
The Candlewood Suites brand is an extended stay concept designed to offer a relaxed, casual, apartment-like experience at a comfortable value. Appealing to corporate, industrial, and government markets, the brand is popular with travelers involved in long-term professional engagements. As demand continues to grow, so does the brand’s loyal customer base. This Candlewood Suites stabilized revenue is projected to exceed $4 million by 2026 with strong cash flow via high-end finishes and hotel amenities ($4,200,000/$114 RevPAR).
Take advantage of this exciting opportunity to become the first operator at Candlewood Luxury Extended Stay Suites by IHG.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 5
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 61,420 SF
- Units
- 98
Highlights
- The luxury Candlewood Extended Stay Suites, a five-story, 98-room, Certified Green hotel, was delivered in June 2023.
- 745 Cobb Place Blvd NW caters to rare and convenient placement for the hospitality asset at the junction of I-75 and Hwy 575 within the Atlanta MSA.
- Opportunity to own and operate the stabilized hotel, with revenues projected at $4,200,000/$114 RevPAR.
- As of June, the twelve-month average RevPAR in the Atlanta submarket was climbing at an exceptional 8.6% annual rate, like the market-wide trend.
- Amenities include a full kitchen in each suite, a business and fitness center, an on-site pool, high-speed Wi-Fi, and free laundry facilities.
- Candlewood Suites business model executes a low ratio of team members to guests for increased operating margins.
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