With 7 hotels for sale in Jacksonville, investors are presented with a unique opportunity to capitalize on the city's growing tourism industry. Hotels in Jacksonville offer a diverse range of investment opportunities, from boutique properties to large-scale resorts, each with its own unique characteristics and potential for return on investment. The city's strategic location, with its proximity to the Atlantic Ocean and the St. Johns River, makes it an attractive destination for tourists and business travelers alike. Jacksonville's infrastructure, including JEA, People's Gas, Comcast, and AT&T, provides a solid foundation for hotel operations. The city's many amenities, such as Friendship Fountain, Hanna Park, and the Jacksonville Zoo and Gardens, also contribute to its appeal as a tourist destination. Additionally, the presence of institutions like the University of North Florida, Jacksonville University, and the University of Florida's J. Hillis Miller Health Science Center, make Jacksonville an attractive location for hotels catering to students and professionals. Overall, Jacksonville's unique blend of natural beauty, cultural attractions, and economic growth make it an ideal location for hotel investments.
As a hub for logistics and transportation, Jacksonville is well-connected to major cities and attractions, with Jacksonville International Airport, the Jacksonville Amtrak Station, and the Jacksonville Skyway providing easy access to the city. The city's diverse economy, driven by sectors such as banking, insurance, healthcare, and tourism, also supports a strong demand for hotels. In addition to hotels, Jacksonville also offers a range of other investment opportunities, including restaurants, apartment buildings, and shopping centers. For example, the city's many restaurants, such as those in the Riverside neighborhood, offer a unique blend of culinary experiences, while apartment buildings, like those in the Avondale neighborhood, provide a range of housing options for residents. Shopping centers, such as the St. Johns Town Center, offer a variety of retail and entertainment options, making Jacksonville a well-rounded investment destination. Overall, Jacksonville's unique combination of natural beauty, economic growth, and cultural attractions make it an attractive location for investors looking to capitalize on the city's many opportunities.
What factors should I consider when buying a hotel in Jacksonville?
When buying a hotel in Jacksonville, there are several key factors to consider, including:
- The local economy, which is driven by sectors such as banking, insurance, healthcare, logistics, and tourism, with a focus on golf due to the presence of the PGA Tour headquarters nearby, and the presence of major corporations like CSX Corporation, Fidelity National Financial, and Southeastern Grocers.
- The infrastructure and amenities, such as JEA for water, sewer, and electric services, People's Gas for natural gas, Comcast for cable services, and AT&T for phone services, as well as the city's transportation facilities, including Jacksonville International Airport, Jacksonville Executive at Craig Airport, and the Jacksonville Amtrak Station.
- The hotel's location and accessibility, with proximity to major attractions like the Jacksonville Zoo and Gardens, VyStar Veterans Memorial Arena, and the city's beaches, as well as the availability of CRE loans, or commercial real estate loans, which can be used to finance the purchase of a hotel, as explained in our article at CRE loans.
Currently, there are 7 available listings of hotels for sale in Jacksonville, with an average price per square foot of $162 USD, an average size of 50,042 square feet, and a largest size of 84,355 square feet, and an average cap rate of 17.93%.
How is the value of a hotel for sale typically calculated?
In Jacksonville, where there are currently 7 available listings of hotels for sale, the value of a hotel is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the property's income, expenses, and market value. For a more in-depth understanding of the CRE appraisal process, you can refer to our article at CRE appraisals, which provides valuable insights into the methods and approaches used to determine the value of commercial properties like hotels.
