OFFERING MEMORANDUM
HOSPITALITY
1 LOGAN STREET GREENVILLE SC 29601
EXCLUSIVELY LISTED BY
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
Total Revenue $262,269
Total Operating Expenses $ 99,974.08
Net Operating Income $126,588.20
*ALL FINANCIALS ARE SUBJECT TO BUYERS VERIFICATION
PROPERTY DETAILS
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.
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
GREENVILLE DEMOGRAPHICS
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.
8 Reasons to Move to Greenville, SC
PRESENTED BY:
MARTY NAVARRO, CCIM
Direct +1 864 354 4755
200 S Main St, Greenville, SC 29601