DOWNTOWN MACON HIGH-RISE HOTEL

INVESTMENT OVERVIEW

Hunter Havericak Hotel Group of Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 298-room former Full-Service Hilton Hotel located at 108 1st Street in Downtown Macon, Georgia. The Hotel was in the process of being renovated to open as a Wyndham, but the renovations were not completed. It features a 16-story concrete and steel structure with extensive common areas built in 1970. The property is located in the core of Downtown Macon but also proximate to major local thoroughfares, providing ease of access for commerce and tourism. The 108 1st Street Hotel provides the opportunity for a new owner to acquire a partially renovated hotel in a CBD location at a steep discount to replacement cost or pursue other adaptive reuse options. A new owner will also be afforded the opportunity to lease restaurant and retail space at street level as well as explore the potential to convert upper floors into condominiums.

INVESTMENT HIGHLIGHTS

• Receivership Sale (Lender-Driven)
• Demand Studies Show Need for Both Hotel Rooms and Multifamily Units in the Downtown CBD Market - Located in the Deal Room
• Property is Zoned CBD-1, Flexibility to Complete Upper Floors as Multifamily Units
• Architectural Renovation Drawings Located in the Deal Room
• 16th Floor has Four Penthouse Suites with Balconies Overlooking Macon and the Ocmulgee River
• Four Elevators
• Two Restaurant Spaces with Commercial Kitchen
• Separate Bar Venue
• Street-Level Retail/Office Space Available to Lease
• Case Goods and Furniture Once Anticipated to be Used in the Renovation are On Site and Expected to Be Conveyed with the Property
• Corridors are 70'' Wide and Every Floor has Individual Electrical Breaker Boxes
• Past Renovations on Floors 1-10; Floors 11-16 are Largely in Shell Condition