Country Inn & Suites
GREeNVILLE, SC
Greenville encompasses big-city amenities without attracting the same unpleasantries that come with a more populated, urban metro area. The 10-block stretch of Main Street is lined with a variety of boutiques, restaurants, businesses and bars. A low cost of living and mild temperatures year-round make Greenville desirable to many. Plus, being located steps away from the mountains without giving up any of the offerings of a developed region makes it easy to enjoy what nature has to offer.
Property Information
- Property Type: Hotel
- 3.43 Acres
- 116 Rooms
- Purchase Price: $10,993,000
- Recently Undergone Full Renovation
Greenville, SC
About Tenants-In-Common
Tenants-in-Common or TIC ownership allows multiple buyers to purchase an undivided percentage of a single piece of property. Each buyer receives his own deed to the property and benefits from all of the income, tax shelters and appreciation it provides. This Millcreek Commercial property has the following characteristics:
- Property is offered debt-free
- Long-term, corporate-guaranteed lease
- Satisfies IRS requirements for 1031 exchanges
Office | 801.899.1943
Lease Information
- Income stream: 6.25%
- Lease guarantor: Blue Star Hospitality
- Lease term: 20 years
- Absolute NNN lease
- 10% rent increases every five years
- Renewal options: Three five-year options
- Operating expenses and utilities are all paid by the tenant
- Repairs and maintenance paid by tenan
