OFFERING MEMORANDUM

HOSPITALITY

 
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1 LOGAN STREET GREENVILLE SC 29601


EXCLUSIVELY LISTED BY

 
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MARTY NAVARRO, CCIM

Direct +1 864 354 4755

marty@nrepg.com

200 S Main St, Greenville, SC 29601

FINANCIAL HIGHLIGHTS

Asking Price $1,355,000

2018 NOI $135,550

Capitalization Rate 10.00%

Purchase & Investment

Total Purchase Price $1,355,000

Less Debt Amount $1,016,250

Loan Cost $0

Equity (25%) $338,750

2018 NOI $135,550

Annual Debt (Assumed) $80,185

Cash Flow Before Taxes $55,365

Cash on Cash % 16.34%

Property Metrics (2018 Actual)

Total Hotel Rooms 6

Hotel Occupancy 51.00%

Hotel ADR $163

Hotel RevPAR $83

Total Revenue $262,269

Total Operating Expenses $126,720

Net Operating Income $135,550

PROPERTY DETAILS

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Property Name: Swamp Rabbit Inn Greenville

Property Address: 1 Logan Street Greenville, SC 29601

District: Westend

Opportunity Zone: Yes

Tax Map ID #56000500400

Zoning: C-4

Year Renovated: 2014

Number of Rooms: 6 

Number of Stories: 2 

Building Area: Approx. 2,975 SF

Lot Size: 10,193 SF 


The Swamp Rabbit Inn is located at the corner of Logan Street & Wardlaw Street in the West End, just off the bustle of Academy Street where one of the key gateways into downtown Greenville is taking form at a rapid pace.  A new 245-unit luxury apartment, rooftop restaurant/bar and mixed-use project was just announced on Wardlaw & Rhett Street further validating the Swamp Rabbit Inn’s premier location within the epicenter of economic development.  Due to the popularity and amount of capital investment in the Westend, the City of Greenville is considering significant streetscape improvements to Wardlaw Street and Rhett Street and defining its significance as a major gateway to the new Unity Park and the Swamp Rabbit Trail


Visitors can rent a room or the whole house (one of the only large house rentals in downtown Greenville), ideally situated within walking distance to several wedding venues. A perfect set up for bridal parties and wedding guests, family gatherings, and retreats.


The Swamp Rabbit Inn is currently owner operated, but we believe that it has the capability of being a manager-run investment as well. We invite you to explore this unique investment opportunity in the boutique lodging category located in Greenville’s Westend.

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COMMON AREA FEATURES

  • Complimentary high speed WiFi

  • Laundry facility

  • Complimentary refreshments, coffees, and baked goods

  • Fully stocked kitchen

  • Keyless entry with electronic locks on all doors

  • Self check in

  • Complimentary parking (including handicap parking and access)

  • Outdoor decks and rocking chair front porch

  • ADA accessible room

  • Bike rental fleet

ROOM AMENITIES

  • Complimentary WiFi

  • Television

  • Premium Television Channels

  • Coffee / Tea Maker

  • Iron / Ironing Board

  • Hair Dryer

  • Desk

  • Daily Housekeeping

  • Private en Suite Bathroom

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GREENVILLE DEMOGRAPHICS

 
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Hundreds of Restaurants.

One Short Walk.

Main Street alone is home to over 100 restaurants and eateries – most of them original to Greenville.

20+ miles of paved cycling and walking trails, known affectionately as the Swamp Rabbit Trail, cut directly through Downtown Greenville and provide residents with beautiful scenery along the Reedy River.

More info

8 Reasons to Move to Greenville, SC

PRESENTED BY:

MARTY NAVARRO, CCIM

Direct +1 864 354 4755

marty@nrepg.com

200 S Main St, Greenville, SC 29601