Motel 6 Seller’s Broker:
Thibodaux, LA
No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Hajari Realty, Inc. (Seller’ Broker) is retained to offer the fee‐simple interest in the 81‐room Motel 6, one of the leading premium economy hotels in Thibodaux’s community, 60 miles South from Louisiana’s largest market, New Orleans, Louisiana. The newly renovated hotel is available unencumbered by management, yet likely available for re‐licensing with Motel 6 upon completion of a Property Improvement Plan (PIP).
Opened in 1972, as a Sheraton, with approximately 120 guest rooms, features; outdoor swimming pool, fitness room, spacious lobby & breakfast area, guest laundry, business center, and meeting room. The two‐story exterior corridor property has approximately 40,000 square feet of building area situated on 1.96 acres located in the Canal Boulevard (Hwy. 20) and LA-308 commercial corridor nearby to restaurants, (Starbuck’s, Raising Cane’s, Taco Bell, McDonald’s, Pizza Hut, Chili’s Grill & Bar, El Paso Mexican Grill, Wendy’s, and Sonic Drive-In ) hotels (Hampton Inn and Days Inn) and retail business such as (CVS Pharmacy, Walgreens, Walmart Super Center, Lowe’s Home Improvement, Auto Dealership and service businesses).
The Motel 6 is the only mixed-use property in Thibodaux providing an underserved and unique offering to the area. The hotel offers spacious well‐appointed guestrooms with microwave and refrigerators in all rooms. The hotel has a meeting room located on the first floor with adjacent public breakfast area affording small group business meeting. The hotel also encompasses approximately 40 rooms that are dedicated to retail and office use rental, allowing another stream of revenue generation for maximizing profits from the property.
Thibodaux’s location and access to Highway ‐ 90 makes it an ideal facility for hosting guest. Annual events such as the much celebrated “Manning Passing Academy” each Summer Weekend in June at Nicholls State University where the city host visitors from around the country to this world class classic football event, also known as the “Premier Camp in the Country” - https://manningpassingacademy.com/ . The city offers visitors Acadian Cultural Center, Donner- Peltier Distillers, Nicholls State University, Laurel Valley Village, Bayou Children’s Museum, as well many parks and nearby lake (Houma, LA).
The hotels offer significant upside with more hands‐on management, direct sales efforts. Today it is operating with stable in‐place cash flow. The hotel has potential for increasing the RevPAR upon completion of a PIP and implementation of better revenue management. The ideal buyer will be an Owner‐Operators who completes a “Minimal” renovation, takes the time to enhance top‐line revenues while staying focused on operating efficiencies, thus achieving a stronger bottom‐line.
Year End December 2014 Revenues were: $650,797 Year End December 2015 Revenues were: $826,020 Year End December 2016 Revenues were: $694,504 Year End December 2017 Revenues were: $433,171 The hotel can be financed through with Seller’s current lender at attractive terms. Please ask broker for details. Asking price: $1,800,000 No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
The hotel is located approximately 30 minutes (25 miles) from a multi-billion dollar construction site for a new methanol plant that will draw room nights during its 2nd and 3rd phases of construction.
• Yuhuang Chemical Inc., a top 25 Chinese petrochemical company, announced and began construction in the 4th quarter (2015) on its $1.86 billion methanol manufacturing facility. To be conducted in three phases, thus, providing a steady stream of room nights through the various phases.
Home/In the News/Work begins on $1.85B methanol plant in St. James Parish Work begins on $1.85B methanol plant in St. James Parish By Yuhuang In In the News Posted Apr 6, 2017 Yuhuang Chemical Inc. said Thursday it has started work on its $1.85 billion methanol manufacturing complex in St. James Parish. Construction began Jan. 9, according to a news release. The project is scheduled to be completed during cialisfrance24.com the fourth quarter of 2019, when the facility will begin distributing methanol by truck, rail, barge and ocean vessels. Management expects a large portion to be distributed locally with the balance exported primarily to Europe and China, the news release said. The company closed in March on $800 million in financing with a group of Chinese banks for construction of its first methanol project in the parish. Yuhuang Chemical has purchased 1,300 acres for the plant, along with St. James High School for $10.1 million. The 46-acre campus, located along River Road on the west bank of the Mississippi River, is directly in front of the tract where the plant is being built. The first phase of the project is a $1.5 billion methanol manufacturing complex. Two more phases are set to follow, leading to the employment of 100 permanent workers. The plant is also expected to create around 1,000 construction jobs across the area. The project is a methane-to-methanol plant designed to produce 1.8 million metric tons per year of commercial grade methanol. The company selected Air Liquide Global E&C Solutions, the United States engineering and construction arm of Air Liquide Group, a French multinational company, as the engineer for the plant.
http://yci-us.com/2017/04/work-begins-on-1-85b-methanol-plant-in-st-james-parish/ http://yci-us.com/2017/04/bank-of-china-finances-landmark-investment-by-yuhuang-chemical-inc-in- louisiana-methanol-facility/
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Additional articles:
1. NEW ORLEANS BUSINESS NEWS Chinese could spend up to $3 billion on St. James methanol project Updated on April 11, 2017 at 4:49 PMPosted on April 11, 2017 at 4:29 PM petrochemical-plant-illuminated-at-dusk-999d319c32b759a4.jpeg Construction of the Yuhuang Chemical methanol manufacturing plant in St. James Parish is underway.(Bim) 1 51shares By Richard Rainey [email protected], NOLA.com | The Times-Picayune On the heels of promises from one Chinese chemical company to build a plant in Louisiana, another said its even larger multi-billion project is underway.
Yuhuang Chemical Inc. began to turn dirt on its 1,300-acre site in St. James Parish on Jan. 9, clearing the way for the first of three construction phases of a methanol manufacturing plant. Phase I, originally thought to cost $750 million, has risen to an estimated $1.2 billion to build, said Jerry Jones, Yuhuang's general counsel.
Shandong Yuhuang buys St. James site for $1.85B complex
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
The project -- the first major foreign direct investment by a Chinese company in Louisiana -- is expected to create 400 jobs over the next six years.
While Jones was hesitant to deliver a hard figure, he said the final construction costs could rise from the initial $1.85 billion estimate to possibly as high as $3 billion, making it by far the largest Chinese investment in Louisiana's chemical manufacturing industry.
"The engineers underestimated the cost of building the project in the United States," Jones said. "Fortunately the company felt it was worth it."
The second largest, a $1.12 billion manufacturing site from Wanhua Chemical Group, was announced Monday (April 10).
China's Wanhua Chemical to build $1.12 billion plant in Louisiana
Louisiana Economic Development estimates the project will create 170 direct jobs.
Yuhuang bought the necessary acreage in July. Public concern over air pollution from the future plant prompted the company to ask the Environmental Protection Agency for a modified air permit that had tighter restrictions on certain pollutants. The agency sent its directives to the Louisiana Department of Environmental Quality on Aug. 31.
LDEQ delivered its proposal in December and held a public comment period in January. That final permit is expected to be issued soon, said Bryan Johnston of LDEQ's air quality division.
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
The modified permit, however, wasn't necessary to start construction. The current permit remains valid, Johnston said.
Air Liquide to build $170 million unit to supply St. James Parish plant
Paris-based Air Liquide plans to invest about $170 million in a unit to supply oxygen for Chinese petrochemical giant Yuhuang Chemical's planned methanol manufacturing complex in St. James Parish. The Advocate reports the Yuhuang Chemical plant will produce about 5,500 tons of methanol per day at an overall complex to be built in three phases at an estimated $1.85...
Jones said Yuhuang expects the first phase of the methanol plant to take about three years. St. James residents should soon see construction of a road for heavy trucks and equipment that will stretch from Louisiana Highway 3127 to River Road.
Paying for the first phase will be a syndicate of banks, including the government-affiliated Bank of China, and Yuhuang's parent company, Shandong Yuhuang Chemical Co. Ltd., Jones said.
Jones lowered the original projections for jobs at the plant once its first phase was operational from 200 to somewhere between 95 and 100. He said average salaries would still hover around $85,000 a year.
Construction of Phase 1, however, could employ as many as 1,200 workers.
"We want to hire in the St. James region," Jones said. "And then we want to be a part of the community. It's part of the social culture of this group that's being built in America is that we want to support the local community as best we can."
Jones also sought to temper concern that the recent rash of deaths of workers at chemical plants in China would not translate to unsafe conditions along the Mississippi River.
"I think the difference is that we're building this facility in the United States and we're building this to United States code and to United States standards," Jones said, adding that the plant would adhere to stricter American labor laws. "The fact that this is a Chinese-owned company has no impact on the type of facility we're building."
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
MOTEL 6 Thibodaux, LA
In‐Place Positive Cash Flow Bedroom Community 60 Miles South West of Louisiana’s Largest City Renovation 2011/2017 Upside Potential with Better Revenue Management Upside Potential with Owner-Operation Ten Year Franchise Licenses Anticipated Upon Completion of PIP Only “All economy” Hotel in Thibodaux Priced To Sell at $1,800,000
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
PROPERTY IDENTIFICATION:
Property: Motel 6
Address: 203 N. Canal Blvd. Thibodaux, LA 70301
Major Crossroads: Canal Boulevard (Hwy. 20) and LA-308
Franchise I.D. LA8833
County / Parish: Lafourche Parish
Township: City of Thibodaux
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
BUILDING FEATURES: Year Open: 1972
Total Guest Suites: 81
Guest Room Mix: Double Queen: 30 Single King: 42 Suites: 9
Corridors: Exterior
Floors: Two
Elevator: N/A
Porte Cochere: Clearance 9 Feet
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Double Queen Suite Replaced
Guest Room Capex Double Queen Mattress and Box Springs 2011 Single King Mattress & Box Springs 2011 37 Inch Flat Screen 2011 Guest Room Lighting 2011 Painting & Accent Wall 2017
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Double Queen Suite
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
King Suite
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
King Standard
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Outdoor Swimming Pool Replaced or Installed > Chair Lift 2012 > Pool Depth: Max Depth Five Feet
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Renovated Fitness Room: Replaced Treadmill Elliptical Stationary Cycle New Floor 2012
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Retail / Office Mixed Use Rental Space
Approximately 30 -35 units dedicated to alternative use Located on major commercial traffic corridor Many uses such as sandwich shop, nail salon, satellite offices for professional services, etc.
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Retail / Office Mixed Use Rental Space
Additional units in rear for retail / office space Units can be converted back to guestrooms easily Strong demand for extended-stay units – easily convertible If all units are converted back to guestrooms, then property size increases by almost 50% - to approximately 120 units; making price per unit decrease considerably based on a nominal sales price.
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
Ph: (504) 218-7101 [email protected]
Hotel Amenities: Meeting Space: Capacity Other: Smoke 30 ‐ 40 People Writing Free Pets Board Allowed
Breakfast Area: Free Internet Coffee/Juice
Swimming Pool Outdoor Swimming Pool Business Center: Water Depth (Max) Five Feet Computer, Printer, Internet Fitness ‐ Room Elliptical Stational Cycle Treadmill
Guest Laundry First Floor: Two ‐ Washers & 2‐Dryers
Vending Areas First Floor – One Ice Machine
SITE FEATURES: Ownership: Fee Simple
Site Size: 1.96 Acres
Parking Spaces: 81
Site Improvement: Paved/Asphalt Parking, Exterior Lighting Porte Cochere, Various Scrubs and trees Paved Area: 27,540 Square Feet
Signage: Pylon
Porto Cohere: (9 foot height)
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
HAJARI REALTY, INC. Ph: (504) 218-7101 [email protected]
BUSINESS PERFORMANCE: Revenues (Hotel Stat Report) 2016 2015 2014 Room Revenue $684,072 $819,543 $645,181 Other 10,432 6,477 5,616
Total Revenues: $694,504 $826,020 $650,797 ======
Hotel Operating Statistics: Occupancy 40.2% 49.1% 34.5% ADR: $57.29 $56.43 $63.61 RevPAR: $23.02 $27.72 $21.94
Hotel Competitive Set Name City Year Built Rooms (STR Dec 2016) Motel 6 Thibodaux 1972 81 Best Western Plus Gray 2000 62 Microtel Inn & Suites Houma 2007 63 Hampton Inn & Suites Thibodaux 2009 109 Days Inn & Suites Thibodaux 2008 57 Total Rooms: 372
Hotel Competitive Set: Occupancy: 56% (STR Dec 2016) ADR: $81.04 RevPAR: $45.49
REAL ESTATE & PERSONAL PROPERTY TAXES:
Lafourche Parish: Real Estate Tax: $12,882.52 (2016 pay 2016) Parcel #: 0052867250 City of Thibodaux: Real Estate Tax: $ 1721.97 (2016 pay 2016) $14,604.49
Lafourche Parish: Personal Property Tax: $ 451.75 (2016 pay 2016) Parcel #: 1053308200 City of Thibodaux: Personal Property Tax: $ 60.38 (2016 pay 2016) $ 512.13
Leased Equipment: None
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.
HAJARI REALTY, INC. Ph: (504) 218-7101 [email protected]
RENOVATIONS: Last Date of Renovation: October 2017
Renovation: The PIP began in December 2010 and concluded December 2011.The renovation included 37 ‐ inch televisions, Mattress & Box Springs, resurfacing of guest rooms walls, and exterior painting.
Current PIP: Available Upon Request
Accor Hotels Contact Kris Joyce Franchise Transfers (972) 360‐5420 Utility Providers:
Telephone Spectrum Business Internet Spectrum Business Gas Service: Municipal (City of Thibodaux) Water & Sewer: Municipal (City of Thibodaux) Electricity: Municipal (City of Thibodaux)
Hotel Laundry: Two Commercial Washers Two Commercial Dryers
Hot Water: Two ‐ Gas fired Water Heaters
Contact Seller’s Exclusive Broker:
HAJARI REALTY, INC. Mehul Hajari 3051 Hwy. 90 Avondale, LA 70094 Ph: (504) 218-7101 Mo: (504) 296-6676 [email protected] www.hajarirealty.com
No warranties or representations, expressed or implies are made as to the accuracy of the information contained herein and this information is offered subject to errors, omissions, and projections. Purchaser is urged to conduct an independent investigation, inspection and verification of all information verbal or written. The Broker is the Agent of the Seller.