AMERICAS BEST VALUE - LoopNet...Microtel Inn & Suites Marianna Econo Lodge Inn & Suites Marianna Comfort Inn & Suites Marianna I-10 Fairfield Inn & Suites Marianna Holiday Inn Express

OFFERING MEMORANDUM

AMERICAS BEST VALUE INN

MARIANNA, FLORIDA

NON-ENDORSEMENT AND DISCLAIMER NOTICENON-ENDORSEMENTSMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.

The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said

corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and

is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DISCLAIMERTHIS IS AN BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN

APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express

or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and

bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018

Marcus & Millichap. All rights reserved. ACT ID Z0240186


MARIANNA, FLORIDA

O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A

WWW.MARCUSMILLICHAP.COM

P R E S E N T E D B Y

Sarhan Mheni

First Vice President Investments Director - National Hospitality Group Encino OfficeTel: (818) 212-2807Fax: (818) 212-2710 [email protected] License: CA 01756111

Andy Kawatra

Senior AssociateMember - National Hospitality Group Encino OfficeTel: (818) 212-2737Fax: (818) 212-2710 [email protected] License: CA 02061203

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TABLE OF CONTENTS

INVESTMENT OVERVIEW PAGE 1Offering Summary • Investment Highlights • Maps

FINANCIAL ANALYSISPAGE 8Pricing • Operating Summary

COMPETITIVE PROPERTIESPAGE 11Competitive Properties • Rack Rate Summary • STR Report

MARKET OVERVIEWPAGE 21Demand Generators • Demographics • Regional Overview04

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INVESTMENTOVERVIEW

AMERICAS BEST VALUE INN MARIANNA


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PROPERTY HIGHLIGHTS

AMENITIES

Complimentary continental breakfast

Complimentary WiFi

Outdoor swimming pool

In-room coffee maker, iron andironing board

Coin-operated laundry facilities

70 rooms

2018 gross revenue $550K

2018 occupancy rate 36.24%

2018 ADR $60.85

2018 CAP rate 12.85%


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THE I-10 / FL-71 INTERCHANGE

Americas Best Value Inn Marianna is located at the intersection of Interstate 10 and Florida Highway 71, surrounded by a variety of other hotels, dining and shopping options that attract local residents and visitors alike.

Whether Marianna is a destination or a stop on the way, this location offers visitors all the comforts they expect.

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OFFERING SUMMARY

Marcus & Millichap is pleased to present this portfolio of three hotel properties in Marianna, Florida.

The Quality Inn Marianna, Days Inn by Wyndham Marianna, and Americas Best Value Inn Marianna are located at the intersection of Interstate 10 and Florida Highway 71. Marianna is situated midway between Tallahassee and Pensacola in Florida's Panhandle, just a few miles from Alabama and Georgia, and just thirty minutes from the Gulf Coast and beaches of Panama City.

Taken together, these three properties represent almost half of the available rooms located at the Highway 71 exit of I-10.

This offering memorandum focuses on Americas Best Value Inn Marianna. Offering memos for the other two hotels are available on request.

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Year BuiltLot Size (acres)

Building Area (sf)RoomsStories

Acquisition PricePrice per Room

CAP Rate - CurrentRRM - Current

Quality Inn Marianna2175 Highway 71

Marianna, FL 3244819801.53

27,459802

$3,150,000$39,37511.08%

3.10

Days Inn Marianna2185 Highway 71

Marianna, FL 3244819601.71

32,300702

$2,400,000$34,28613.79%

3.00

Americas Best Value Inn Marianna 2086 Highway 71

Marianna, FL 3244819821.91

38,183702

$1,650,000$20,62512.85%

3.00

INVESTMENT HIGHLIGHTS

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Highly visible properties at heavily traveledinterchange of Interstate 10 and FloridaHighway 17

Established properties currently performing atlocal market levels

Upside potential from updates andimprovements to increase rack rates andpossibility for up-branding

Three properties in one location offerseconomies of scale in management andoperations

The properties comprising this portfolio represent an investment opportunity to assume a comfortable income stream with significant upside potential.

These three nationally-branded properties capitalize on their proximity to Interstate 10, with its average annual daily traffic count of over 22,000 vehicles, and Florida State Highway 71, with almost 20,000 per day.

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LOCAL MAP

With average annual daily traffic counts of almost 20,000 vehicles per day on FL-71 and 22,000+ on I-10, these properties are visible, easily accessible, and ideally positioned to capture travelers passing through the area as well as those making the Marianna area their destination.

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FINANCIALANALYSIS


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PRICING SUMMARY - ABVI MARIANNA

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Purchase PricePurchase PriceDown Payment (30%)

$1,650,000$495,000

New FirstInterest RateAmortizationMonthly Principal & Interest

$1,155,0006.00%

25-$5,405

70 25,550

9,25936.24%$60.85$22.05

$550,106 99.99%$78 0.01%

$550,184 100.00%$338,193 61.48%$211,991 38.54%-$64,864

$147,1273.27

29.72%12.85%

3.00

2018 Operating SummaryRoomsAvailable Rentable RoomsRooms Sold OccupancyADRRevPar

Room RevenueOther RevenueTotal RevenueLess: Operating ExpensesNOILess: Debt ServicesPre-Tax Cash FlowDebt Coverage Ratio

Investment SummaryCash On Cash ReturnCAP RateRoom Revenue MultiplierPrice Per Room $23,571

Proposed Financing-New First

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PRICING SUMMARY - THE PORTFOLIO

Quality Inn Marianna$3,150,000

$945,000

Days Inn Marianna$2,400,000

$720,000

ABVI Marianna$1,650,000

$495,000

Totals/Averages$7,200,000$2,160,000

$2,205,000 $1,680,000 $1,155,000 $5,040,0006.00% 6.00% 6.00%

25 25 256.00%

25-$10,319 -$7,862 -$5,405 -$23,587

2018 Operating Summary80 70 70 220

29,200 25,550 25,550 80,300 11,247 9,259 36,66344.02% 36.24% 45.20%$72.59 $60.85 $66.50

16,15655.33%$66.05$36.55 $31.95 $22.05 $30.18

$1,015,508 $800,956 $550,106 $2,366,570 99.42%$6,471 $7,175 $78 $13,724 0.58%

$1,021,979 $808,131 $550,184 $2,380,294 100.00%$672,901 $477,153 $338,193 $1,488,247 62.89%$349,078 $330,978 $211,991 $892,047 37.69%-$123,831 -$94,347 -$64,864 -$283,042$225,247 $236,631 $147,127 $609,005

2.82 3.51 3.27 3.15

23.84% 29.72% 28.19%11.08% 12.85% 12.39%

3.10 3.00 3.04

PropertyPurchase PriceDown Payment (30%)

New FirstInterest RateAmortizationMonthly Principal & Interest

RoomsAvailable Rentable RoomsRooms Sold OccupancyADRRevPar

Room RevenueOther RevenueTotal RevenueLess: Operating ExpensesNOILess: Debt ServicesPre-Tax Cash FlowDebt Coverage Ratio

Cash On Cash ReturnCAP RateRoom Revenue MultiplierPrice Per Room $39,375

32.87%13.79%

3.00$34,286 $23,571 $32,727

Purchase Price

Proposed Financing-New First

Investment Summary

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COMPETITIVE PROPERTIES


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Year Built Rooms1989 801995 701984 702000 642004 602007 542008 77

Hotel NameQuality Inn MariannaDays Inn MariannaAmericas Best Value Inn Marianna Microtel Inn & Suites Marianna Econo Lodge Inn & Suites Marianna Comfort Inn & Suites Marianna I-10 Fairfield Inn & Suites Marianna Holiday Inn Express & Suites Bonifay

Address2175 Highway 71, Marianna, FL 324482185 Highway 71, Marianna, FL 324482086 Highway 71, Marianna, FL 324484959 Whitetail Dr, Marianna, FL 324482196 Post Oak Ln, Marianna, FL 324482214 Highway 71, Marianna, FL 324484966 Whitetail Dr, Marianna, FL 32448115 Washington Dr, Bonifay, FL 32425 2010 65

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# of UnitsRack Rate Range

TripAdvisor RankingLot Size (acres)

Building Area (sf)Assessed Value

Year Built

Econo Lodge Inn & Suites Marianna2196 Post Oak Ln

Marianna, FL 3244860

$70 - $10510 of 13 Marianna

1.539,447

$1,334,2642004

Comfort Inn & Suites Marianna I-102214 Highway 71


$84 - $1782 of 13 Marianna

1.738,241

$3,125,9962007

Fairfield Inn & Suites Marianna4966 Whitetail Dr


$146 - $2301 of 13 Marianna

2.1248,096

$2,682,5872008

Holiday Inn Express & Suites Bonifay115 Washington DrBonifay, FL 32425

65$122 - $1781 of 3 Bonifay

1.6936,628

$2,417,2582010

# of UnitsRack Rate Range

TripAdvisor RankingLot Size (acres)

Building Area (sf)Assessed Value

Year Built

Quality Inn Marianna2175 Highway 71


$79 - $1288 of 13 Marianna

1.5327,459

$2,428,7001980

Days Inn Marianna2185 Highway 71


$71 - $1026 of 13 Marianna

1.7132,300

$2,838,5001960

Americas Best Value Inn Marianna 2086 Highway 71


$89 - $10312 of 13 Marianna

1.9138,183

$2,848,7001982

Microtel Inn & Suites Marianna4959 Whitetail Dr


$66 - $903 of 13 Marianna

1.4319,278

$1,785,3132000

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Hotel Name City. State Rooms Ranking* Rack Rate Low Rack Rate High Average Rack RateMarianna, FL 80 $79 $128 $103.50Marianna, FL 70 $71 $102 $86.50Marianna, FL 70 $89 $103 $96.00Marianna, FL 64 $66 $90 $78.00Marianna, FL 60 $70 $105 $87.50Marianna, FL 54 $84 $178 $131.00Marianna, FL 77 $146 $230 $188.00

Quality Inn MariannaDays Inn MariannaAmericas Best Value Inn Marianna Microtel Inn & Suites Marianna Econo Lodge Inn & Suites Marianna Comfort Inn & Suites I-10Fairfield Inn & Suites Marianna Holiday Inn Express & Suites Bonifay Bonifay, FL 65

8 of 13 Marianna6 of 13 Marianna12 of 13 Marianna3 of 13 Marianna10 of 13 Marianna2 of 13 Marianna1 of 13 Marianna

1 of 3 Bonifay $122 $178 $150.00Average $115.06Average

* Ranking per Tripadvisor

$103.50

$86.50$96.00

$78.00$87.50

$131.00

$188.00

$150.00

$115.06

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

$200.00

Quality Inn Marianna Days Inn Marianna Americas Best Value InnMarianna

Microtel Inn & SuitesMarianna

Econo Lodge Inn &Suites Marianna

Comfort Inn & Suites I-10

Fairfield Inn & SuitesMarianna

Holiday Inn Express &Suites Bonifay

Average

Average Rack Rate

Tab 2 - Monthly Performance at a Glance - My Property vs. Competitive Set

My Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)

91.4 80.4 113.6 79.90 94.77 84.3 73.00 76.20 95.8

91.4 80.4 113.6 79.90 94.77 84.3 73.00 76.20 95.8

83.1 77.8 106.8 80.51 98.88 81.4 66.90 76.92 87.0

Current Month

Year To Date

Running 3 Month

Running 12 Month 59.6 60.9 97.9 68.63 90.37 75.9 40.92 55.05 74.3

My Prop

OccupancyComp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)

123.9 76.8 26.7 50.3 18.6 26.7 236.6 109.7 60.5

123.9 76.8 26.7 50.3 18.6 26.7 236.6 109.7 60.5

98.6 54.8 28.3 47.2 23.8 18.9 192.3 91.6 52.6

Current Month

Year To Date

Running 3 Month

Running 12 Month 27.2 7.2 18.6 14.1 9.2 4.5 45.1 17.0 24.0

The STR STAR Report is a publication of STR, Inc. and STR Global, Ltd., and is intended solely for use by paid subscribers. Reproduction or distribution of the STR STAR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to the STR STAR Report, please contact us immediately. Source: 2019 STR, Inc. / STR Global, Ltd. trading as “STR”.

ADR RevPAR

ADR RevPAR

Quality Inn Marianna 2175 Highway 71 S Marianna, FL 32448-2540 Phone: (850) 526-5600

STR # 27046 ChainID: FL251

For the Month of: January 2019

MgtCo: None Owner: None

Date Created: February 20, 2019 Monthly Competitive Set Data Excludes Subject Property

January 2019

January 2019 vs. 2018 Percent Change (%)

Occupancy (%)

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STR REPORT

Tab 3 - STAR Summary - My Property vs. Comp Set and Industry Segments

91.4 123.9 91.4 123.9 83.1 98.6 59.6 27.2 0.0 0.0 0.0

59.7 32.7 59.7 32.7 61.4 29.4 66.9 6.4

63.6 56.5 63.6 56.5 65.0 48.9 66.6 11.0

59.5 21.9 59.5 21.9 60.8 22.8 60.7 5.3

76.3 18.6 76.3 18.6 74.6 16.7 72.7 3.2

80.4 76.8 80.4 76.8 77.8 54.8 60.9 7.2

-3.9

-0.4

-2.1

0.0

0.0

-3.9

-0.4

-2.1

0.0

0.0

-4.1

-0.4

-2.2

0.0

0.0

-0.8

-0.1

0.9

-1.7

0.0

0.0

79.90 50.3 79.90 50.3 80.51 47.2 68.63 14.1 123.9 123.9 98.6 26.1

100.85 15.2 100.85 15.2 105.17 17.3 126.06 6.1 27.5 27.5 24.2 6.4

97.31 28.2 97.31 28.2 101.71 28.5 113.96 6.6 55.9 55.9 48.3 12.1

88.02 7.0 88.02 7.0 89.09 6.3 90.45 2.7 19.4 19.4 20.1 3.4

103.39 5.9 103.39 5.9 104.93 6.3 104.85 2.9 18.6 18.6 16.7 3.2

94.77 18.6 94.77 18.6 98.88 23.8 90.37 9.2 76.8 76.8 54.8 7.2

73.00 236.6 73.00 236.6 66.90 192.3 40.92 45.1 236.6 236.6 192.3 43.9

60.23 52.9 60.23 52.9 64.60 51.8 84.39 12.9 46.9 46.9 45.6 12.9

61.84 100.6 61.84 100.6 66.06 91.3 75.95 18.4 99.8 99.8 90.6 19.5

52.34 30.4 52.34 30.4 54.17 30.6 54.93 8.1 27.7 27.7 27.7 6.3

78.88 25.7 78.88 25.7 78.30 24.0 76.22 6.1 25.7 25.7 24.0 6.1

76.20 109.7 76.20 109.7 76.92 91.6 55.05 17.0 109.7 109.7 91.6 17.0

Rooms Rooms

37473 24933 Properties

5894 3524 14

5807 3533

1915 1855

390 390

55

45

100.0

96.9

% Chg Year to Date

Sample %Sample

72

% ChgCurrent

Month% Chg

% Chg

Average Daily Rate

Running 3

Month% Chg

Running 12

Month

Running 3

Month% Chg

Running 12

Month% Chg

Census/Sample - Properties & Rooms

% ChgRunning 12

Month

RevPAR

Current

Month% Chg Year to Date % Chg

Running 3

Month

247

60.8

66.5

See Help page for pipeline definitions.

Under ConstructionProperties

6

26

Planning

59.8

6

439

116

27

Properties

% Chg

Census

Current

Month

Year to Date

Demand

Month %

Chg

Month %

ChgYTD % Chg

Run 3 Mon %

Chg

Run 12 Mon

% Chg

Market: Florida Panhandle

Revenue

Pipeline

Month %

ChgYTD % Chg

Run 3 Mon %

Chg

Run 12 Mon

% Chg

3015351708

Rooms Properties Rooms

Quality Inn Marianna


Market Class: Midscale Class

Submarket: Florida Panhandle Area

Submarket Scale: Midscale Chains

Competitive Set: Competitors

Rooms



















For the Month of: January 2019 Date Created: February 20, 2019 Monthly Competitive Set Data Excludes Subject Property



YTD % ChgRun 12 Mon

% Chg

Run 3 Mon %

Chg

SupplyOccupancy (%)

% Chg

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STR REPORT

Tab 4 - Competitive Set Report

2019

Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2017 2018 2019 2017 2018 2019 2017 2018 2019

My Property 40.1 57.5 47.7 43.0 41.8 40.8 38.8 44.9 43.3 46.3 54.8 64.3 45.4 46.9 78.8 86.2 71.8 91.4 33.3 40.8 91.4 37.5 41.8 83.1 44.3 46.9 59.6

Competitive Set 45.5 61.8 54.2 56.4 49.1 45.5 52.6 58.0 55.9 55.6 60.5 66.2 49.2 49.2 49.6 77.7 75.3 80.4 47.5 45.5 80.4 51.7 50.3 77.8 56.3 56.8 60.9

Index (MPI) 88.0 93.1 88.1 76.2 85.1 89.7 73.6 77.5 77.4 83.3 90.6 97.1 92.4 95.3 158.8 111.0 95.4 113.6 70.2 89.7 113.6 72.4 83.3 106.8 78.7 82.5 97.9

Rank 5 of 7 5 of 7 5 of 7 5 of 7 5 of 7 4 of 7 5 of 7 5 of 7 5 of 7 5 of 7 4 of 7 5 of 7 5 of 7 4 of 7 1 of 7 3 of 6 6 of 7 2 of 7 5 of 7 4 of 7 2 of 7 4 of 7 5 of 7 4 of 7 5 of 7 5 of 7 4 of 7

% Chg

My Property 11.6 47.6 18.5 22.4 6.0 7.8 3.2 13.4 65.0 100.7 71.7 123.9 11.5 22.4 123.9 26.8 11.7 98.6 23.4 5.9 27.2

Competitive Set 22.0 -2.3 -4.3 -9.8 -5.2 8.0 -8.5 37.8 53.2 76.8 -1.9 -4.3 76.8 10.6 -2.8 54.8 -1.2 1.0 7.2

Index (MPI)

-14.3

30.2 21.0

-4.8

-11.5

7.6

-2.3

-2.1

-0.2 21.3 27.8 17.5

-3.5

-9.1

6.1

-9.2

-5.4

-4.0

-2.2

-4.5

2.4 13.7

-1.1

4.3 5.0

-18.4

-20.3

2.4 80.3 45.6 12.1 26.7 13.6 27.8 26.7 14.6 15.0 28.3 25.0 4.8 18.6


2019


My Property 57.12 68.22 58.81 57.13 53.79 53.15 55.07 58.30 58.07 60.94 59.42 62.28 56.88 58.21 77.54 84.03 77.19 79.90 60.85 53.15 79.90 60.91 54.70 80.51 61.64 60.16 68.63

Competitive Set 80.21 87.67 80.10 80.36 79.37 79.88 82.78 83.72 82.95 84.52 87.98 89.75 82.84 81.66 99.87 100.78 101.38 94.77 74.71 79.88 94.77 77.11 79.89 98.88 80.87 82.77 90.37

Index (ARI) 71.2 77.8 73.4 71.1 67.8 66.5 66.5 69.6 70.0 72.1 67.5 69.4 68.7 71.3 77.6 83.4 76.1 84.3 81.4 66.5 84.3 79.0 68.5 81.4 76.2 72.7 75.9


% Chg

My Property 11.6 1.6 31.8 47.1 43.5 50.3 2.0 50.3 1.1 47.2 4.7 14.1

Competitive Set 11.0 2.6 24.7 25.4 27.7 18.6 -2.3 18.6 0.6 23.8 0.5 9.2

Index (ARI)

-4.7

1.0

-5.6 0.5

-4.5

-1.8

-2.8

-6.7

0.7

-7.4

-11.2

3.8

-14.5

-12.7

6.9

-18.3

-9.2

4.3

-12.9

-4.5

0.0

-4.4

-2.5

3.3

-5.6 -1.0

-5.4

3.4

-8.5

-3.3

-1.1

-2.2

-0.4

3.3

-3.6

-14.7

-6.9

-8.4 5.7 17.3 12.3 26.7 4.5

-12.7

6.9

-18.3 26.7 0.5

-10.2

3.6

-13.3 18.9 4.2

-2.4

2.3

-4.6 4.5


2019


My Property 22.89 39.23 28.08 24.54 22.49 21.69 21.34 26.19 25.14 28.24 32.53 40.03 25.85 27.31 61.10 72.44 55.43 73.00 20.29 21.69 73.00 22.82 22.89 66.90 27.29 28.21 40.92

Competitive Set 36.52 54.15 43.43 45.29 39.01 36.33 43.57 48.53 46.37 47.03 53.19 59.42 40.74 40.19 49.56 78.28 76.33 76.20 35.50 36.33 76.20 39.89 40.16 76.92 45.49 47.04 55.05

Index (RGI) 62.7 72.4 64.7 54.2 57.7 59.7 49.0 54.0 54.2 60.0 61.2 67.4 63.4 68.0 123.3 92.5 72.6 95.8 57.2 59.7 95.8 57.2 57.0 87.0 60.0 60.0 74.3


% Chg

My Property 6.3 64.7 5.3 6.9 2.0 12.9 117.6 195.2 146.4 236.6 13.7 6.9 236.6 28.2 0.3 192.3 29.2 3.4 45.1

Competitive Set 35.4 1.5 2.3 11.5 14.1 72.8 95.7 109.7 -4.2 2.3 109.7 11.3 0.7 91.6 -0.8 3.4 17.0

Index (RGI)

-13.5

22.9 21.6

-9.1

-13.1

4.6

-8.8

-1.4

-7.6 3.7 4.4

-3.7

-6.0

2.4

-7.9

-9.1

1.4

-11.4

-2.3

-9.4

-0.7

-2.0

1.3

-1.9

4.0

-0.2

-2.2

2.1 1.2

-30.4

-25.8

-6.2 90.7 70.8 25.9 60.5 18.7 4.4 60.5 15.2 -0.3 52.6 30.2 0.0 24.0

Rank 1 of 7 2 of 7 3 of 7 4 of 7 3 of 7 3 of 7 4 of 7 3 of 7 5 of 7 4 of 7 3 of 7 4 of 7 4 of 7 5 of 7 2 of 7 2 of 6 3 of 7 3 of 7 2 of 7 3 of 7 3 of 7 2 of 7 4 of 7 3 of 7 1 of 6 5 of 7 3 of 7Exchange Rate

2017

2018

2018

2018


The STR STAR Report is a publication of STR, Inc. and STR Global, Ltd., and is intended solely for use by paid subscribers. Reproduction or distribution of the STR STAR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to the STR STAR Report, please contact us immediately. Source: 2019 STR, Inc. / STR Global, Ltd. trading as “STR”.

Running 12 Month

Running 12 Month

RevPAR

Running 3 Month

Running 3 Month

Year To DateADR

Year To Date


For the Month of: January 2019


Date Created: February 20, 2019 Monthly Competitive Set Data Excludes Subject Property

2017

2017

Occupancy (%)Running 3 MonthYear To Date Running 12 Month

44

64

84

104

124

144

164

Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

Monthly Indexes

Occupancy Index (MPI) ADR Index (ARI) RevPAR Index (RGI) 100 %

12

62

112

162

212

Year to Date Running 3 Month Running 12 Month

RevPAR Percent Change

My Property Competitive Set

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Tab 5 - Response Report

STR # 27046 ChainID: FL251For the Month of: January 2019

This Year

Jan 1st - New Year's DayJan 21st - Martin Luther King Day

Last Year

Jan 1st - New Year's DayJan 15th - Martin Luther King Day

STR# Name City, State Zip Phone Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

27046 Quality Inn Marianna Marianna, FL 32448-2540 (850) 526-5600 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●31244 Days Inn Marianna Marianna, FL 32448-2540 (850) 526-1006 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●39600 Microtel Inn & Suites by Wyndham Marianna Marianna, FL 32448-2549 (850) 633-1825 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●52855 Econo Lodge Inn & Suites Marianna Marianna, FL 32448-7501 (850) 526-0096 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●54771 Comfort Inn & Suites Chipley I 10 Chipley, FL 32428-6387 (850) 415-1111 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●55203 Fairfield Inn & Suites Marianna Marianna, FL 32448-7508 (850) 482-0012 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ○ ● ●60816 Holiday Inn Express & Suites Bonifay Bonifay, FL 32425-3156 (850) 844-0600 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

Data received:

○ = Monthly Only● = Monthly & Daily


Date Created: February 20, 2019 MgtCo: None Owner: None

20000664

200803

70

Rooms

199506

Open Date

30

65 201005

54 200609

77

87 10

2328

17

2929 3121 25

181514

SatSun

11 1287 91

January 2019 (This Year)Mon Tue Wed Thu Fri

5432

3120

6 10

24

91

Sun

January 2018 (Last Year)Mon Tue Wed Thu Fri Sat

5 62 411 12 1318

27

3

2016

30

1925 26

60 200408

2414

2213

80 198912

2619

2316 17

2827

152221

2017 2018

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Tab 6 - Day of Week and Weekday/Weekend ReportQuality Inn Marianna 2175 Highway 71 S Marianna, FL 32448-2540 Phone: (850) 526-5600

MgtCo: None Owner: NoneSTR # 27046 ChainID: FL251 For the Month of: January 2019 Date Created: February 20, 2019 Monthly Competitive Set Data Excludes Subject Property

Day of Week Time Period % Chg % Chg % Chg % Chg % Chg % Chg % Chg % Chg % Chg

Sunday Current Month 85.9 148.9 73.5 97.7 116.9 25.9 81.46 66.7 94.16 22.3 86.5 36.3 70.01 314.9 69.25 141.7 101.1 71.6Year To Date 85.9 148.9 73.5 97.7 116.9 25.9 81.46 66.7 94.16 22.3 86.5 36.3 70.01 314.9 69.25 141.7 101.1 71.6Running 3 Month 76.8 146.7 71.7 92.9 107.2 27.9 78.80 55.6 97.64 31.4 80.7 18.4 60.54 284.0 70.00 153.6 86.5 51.4Running 12 Month 45.5 39.4 48.1 14.4 94.5 21.9 68.10 17.6 87.57 12.9 77.8 4.1 30.99 63.9 42.16 29.1 73.5 26.9

Monday Current Month 96.9 160.7 84.5 93.7 114.7 34.6 74.04 40.6 94.66 18.3 78.2 18.9 71.72 266.5 79.96 129.1 89.7 60.0Year To Date 96.9 160.7 84.5 93.7 114.7 34.6 74.04 40.6 94.66 18.3 78.2 18.9 71.72 266.5 79.96 129.1 89.7 60.0Running 3 Month 85.9 118.7 76.9 62.8 111.6 34.3 79.97 49.7 98.97 24.0 80.8 20.7 68.66 227.3 76.15 101.9 90.2 62.1Running 12 Month 60.0 41.5 57.4 10.1 104.5 28.6 66.02 14.2 88.93 10.4 74.2 3.4 39.60 61.6 51.03 21.6 77.6 32.9

Tuesday Current Month 88.3 93.1 80.8 68.4 109.2 14.7 80.38 54.6 96.66 13.4 83.2 36.3 70.93 198.6 78.09 91.0 90.8 56.3Year To Date 88.3 93.1 80.8 68.4 109.2 14.7 80.38 54.6 96.66 13.4 83.2 36.3 70.93 198.6 78.09 91.0 90.8 56.3Running 3 Month 84.5 91.9 78.1 55.1 108.2 23.7 79.47 51.5 99.09 20.0 80.2 26.2 67.17 190.7 77.38 86.2 86.8 56.1Running 12 Month 60.2 33.7 60.4 9.3 99.7 22.3 67.78 18.9 90.01 9.0 75.3 9.1 40.83 59.0 54.38 19.1 75.1 33.5

Wednesday Current Month 96.3 107.2 84.6 67.5 113.8 23.7 81.36 56.1 94.10 13.8 86.5 37.2 78.31 223.5 79.61 90.6 98.4 69.7Year To Date 96.3 107.2 84.6 67.5 113.8 23.7 81.36 56.1 94.10 13.8 86.5 37.2 78.31 223.5 79.61 90.6 98.4 69.7Running 3 Month 86.4 89.0 80.2 53.1 107.8 23.5 78.00 46.4 99.35 21.3 78.5 20.7 67.43 176.7 79.64 85.7 84.7 49.0Running 12 Month 58.4 30.7 61.4 6.9 95.0 22.2 66.34 15.7 91.62 11.3 72.4 4.0 38.71 51.1 56.27 19.0 68.8 27.0

Thursday Current Month 96.3 128.8 83.3 76.4 115.5 29.7 80.58 48.3 96.21 23.2 83.7 20.3 77.55 239.3 80.18 117.3 96.7 56.1Year To Date 96.3 128.8 83.3 76.4 115.5 29.7 80.58 48.3 96.21 23.2 83.7 20.3 77.55 239.3 80.18 117.3 96.7 56.1Running 3 Month 84.7 105.1 79.2 53.0 107.0 34.0 84.61 53.1 98.21 24.3 86.1 23.1 71.69 214.0 77.79 90.2 92.2 65.1Running 12 Month 60.1 39.7 59.8 7.4 100.6 30.1 69.67 18.9 88.01 9.9 79.2 8.2 41.88 66.0 52.62 18.0 79.6 40.7

Friday Current Month 88.8 111.0 76.0 57.5 116.7 34.0 80.48 41.9 92.95 21.5 86.6 16.8 71.43 199.5 70.67 91.4 101.1 56.5Year To Date 88.8 111.0 76.0 57.5 116.7 34.0 80.48 41.9 92.95 21.5 86.6 16.8 71.43 199.5 70.67 91.4 101.1 56.5Running 3 Month 83.2 64.9 79.6 30.3 104.5 26.5 80.31 34.6 98.38 22.6 81.6 9.8 66.80 121.9 78.26 59.8 85.3 38.9Running 12 Month 66.5 10.2 70.4 1.7 94.4 8.3 72.42 12.7 92.23 7.4 78.5 4.9 48.15 24.2 64.94 9.3 74.2 13.6

Saturday Current Month 85.6 129.2 78.2 85.5 109.5 23.6 80.74 45.6 93.77 22.8 86.1 18.6 69.13 233.9 73.32 127.7 94.3 46.6Year To Date 85.6 129.2 78.2 85.5 109.5 23.6 80.74 45.6 93.77 22.8 86.1 18.6 69.13 233.9 73.32 127.7 94.3 46.6Running 3 Month 80.0 95.2 78.8 52.3 101.5 28.2 82.06 45.7 100.50 26.1 81.7 15.5 65.65 184.4 79.18 92.0 82.9 48.2Running 12 Month 66.7 10.9 68.9 4.3 96.8 6.3 69.29 7.5 92.89 6.3 74.6 1.1 46.22 19.2 64.00 10.9 72.2 7.4

Weekday Current Month 92.8 125.3 81.6 78.9 113.8 25.9 79.67 52.9 95.23 17.5 83.7 30.2 73.95 244.4 77.66 110.2 95.2 63.9(Sun-Thu) Year To Date 92.8 125.3 81.6 78.9 113.8 25.9 79.67 52.9 95.23 17.5 83.7 30.2 73.95 244.4 77.66 110.2 95.2 63.9

Running 3 Month 83.7 107.7 77.3 61.4 108.3 28.6 80.25 51.1 98.66 23.6 81.3 22.2 67.17 213.7 76.22 99.5 88.1 57.3Running 12 Month 56.8 36.7 57.4 9.3 98.9 25.1 67.57 17.1 89.31 10.5 75.7 5.9 38.40 60.1 51.30 20.8 74.9 32.5

Weekend Current Month 87.2 119.6 77.1 70.5 113.1 28.7 80.61 43.7 93.36 22.1 86.3 17.6 70.28 215.5 71.99 108.3 97.6 51.4(Fri-Sat) Year To Date 87.2 119.6 77.1 70.5 113.1 28.7 80.61 43.7 93.36 22.1 86.3 17.6 70.28 215.5 71.99 108.3 97.6 51.4

Running 3 Month 81.6 78.5 79.2 40.4 103.1 27.1 81.17 39.5 99.43 24.3 81.6 12.2 66.22 149.0 78.72 74.5 84.1 42.7Running 12 Month 66.6 10.5 69.7 3.0 95.6 7.3 70.85 10.1 92.56 6.9 76.6 3.0 47.19 21.7 64.47 10.1 73.2 10.5

Total Current Month 91.4 123.9 80.4 76.8 113.6 26.7 79.90 50.3 94.77 18.6 84.3 26.7 73.00 236.6 76.20 109.7 95.8 60.5Year To Date 91.4 123.9 80.4 76.8 113.6 26.7 79.90 50.3 94.77 18.6 84.3 26.7 73.00 236.6 76.20 109.7 95.8 60.5Running 3 Month 83.1 98.6 77.8 54.8 106.8 28.3 80.51 47.2 98.88 23.8 81.4 18.9 66.90 192.3 76.92 91.6 87.0 52.6Running 12 Month 59.6 27.2 60.9 7.2 97.9 18.6 68.63 14.1 90.37 9.2 75.9 4.5 40.92 45.1 55.05 17.0 74.3 24.0

My Property Index (RGI)Competitive Set Index (ARI)

Weekday/Weekend

My Property Competitive Set

Occupancy (%) Average Daily Rate RevPAR

My Property Competitive Set Index (MPI)

69

79

89

99

Sunday Monday Tuesday Wednesday Thursday Friday Saturday Weekday Weekend

Current Month Occupancy

My Property

Competitive Set

69

79

89

99

Sunday Monday Tuesday Wednesday Thursday Friday Saturday Weekday Weekend

Current Month ADR

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Tab 7 - Daily Data for the Month

Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We ThJanuary

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

My Property 48.8 90.0 96.3 87.5 93.8 95.0 95.0 97.5 97.5 96.3 92.5 95.0 81.3 98.8 101.3 101.3 96.3 82.5 67.5 81.3 96.3 96.3 95.0 95.0 92.5 86.3 86.3 97.5 97.5 97.5 97.5

Competitive Set 56.2 74.9 80.3 77.9 83.3 83.1 89.2 89.0 89.0 82.3 77.9 79.2 76.9 84.7 86.2 87.9 82.8 75.9 79.7 71.0 83.3 87.2 84.0 77.9 73.6 71.8 64.4 82.1 87.2 89.0 95.1

Index (MPI) 86.8 120.2 119.9 112.3 112.5 114.4 106.5 109.6 109.6 116.9 118.7 119.9 105.6 116.6 117.5 115.1 116.2 108.7 84.6 114.4 115.5 110.4 113.1 121.9 125.7 120.1 134.0 118.8 111.8 109.6 102.5

% Chg

My Property 25.8 125.0 185.2 94.4 82.9 216.7 153.3 116.7 110.8 148.4 51.0 90.0 91.2 139.4 102.5 145.5 97.4 153.8 145.5 225.0 156.7 79.1 65.2 105.4 221.7 331.3 115.6 129.4 143.8

Competitive Set 32.7 65.9 72.9 74.7 101.9 153.1 83.2 87.6 87.6 77.3 72.7 91.9 85.2 117.2 90.9 66.5 53.8 39.0 77.7 95.3 78.6 74.4 51.0 77.8 46.4 68.7 64.1 56.1 53.2 66.0 71.7

Index (MPI) -5.2 35.6 64.9 11.3 -9.4 25.1 38.3 15.5 12.4 40.1 -12.6 -1.0 3.2 10.2 6.1 47.4 28.4 82.7 38.1 66.4 43.7 2.7 9.4 15.5 119.7 155.7 31.4 47.0 59.2

January

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

My Property 77.10 76.59 73.77 78.46 79.74 82.99 79.57 81.37 83.93 80.87 78.16 78.83 79.02 82.33 78.07 82.32 81.86 81.88 82.75 81.55 82.07 82.70 83.30 83.23 83.47 82.36 82.00 52.31 81.13 80.31 83.15

Competitive Set 94.11 86.15 90.81 88.59 88.91 90.06 91.66 92.46 92.19 92.94 92.91 91.90 91.76 90.32 92.83 93.15 90.53 90.43 93.09 93.47 95.32 97.40 91.53 94.65 91.21 92.67 93.03 92.63 95.16 95.62 99.98

Index (ARI) 81.9 88.9 81.2 88.6 89.7 92.1 86.8 88.0 91.0 87.0 84.1 85.8 86.1 91.2 84.1 88.4 90.4 90.5 88.9 87.2 86.1 84.9 91.0 87.9 91.5 88.9 88.1 56.5 85.3 84.0 83.2

% Chg

My Property 35.0 39.8 27.6 33.8 35.6 91.5 41.8 50.5 60.2 53.4 34.1 39.3 56.9 65.3 59.7 57.3 54.4 46.1 55.3 48.6 57.4 47.0 52.2 38.0 37.6 40.0 56.0 -2.8 57.8

Competitive Set 15.6 0.3 22.6 5.7 11.9 18.5 12.2 7.5 13.1 17.6 24.9 19.6 24.0 11.4 9.5 10.9 14.2 21.0 28.0 25.2 19.8 10.8 14.0 17.1 22.3 19.2 10.6 14.5 10.1 14.9 19.8

Index (ARI) 16.7 39.4 4.1 26.6 21.2 61.6 26.3 40.0 41.7 30.5 7.4 16.4 26.5 48.3 45.8 41.9 35.2 20.7 21.3 18.7 31.4 32.7 33.5 17.8 12.5 17.4 41.0 -15.1 43.3

January

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

My Property 37.59 68.93 71.01 68.65 74.75 78.84 75.59 79.34 81.83 77.84 72.30 74.88 64.21 81.30 79.04 83.35 78.79 67.55 55.85 66.26 78.99 79.60 79.14 79.07 77.21 71.04 70.72 51.00 79.10 78.30 81.07

Competitive Set 52.84 64.50 72.88 69.05 74.09 74.82 81.79 82.27 82.03 76.50 72.42 72.81 70.58 76.47 79.97 81.92 74.98 68.63 74.23 66.39 79.43 84.91 76.89 73.78 67.12 66.53 59.87 76.01 82.96 85.08 95.07

Index (RGI) 71.1 106.9 97.4 99.4 100.9 105.4 92.4 96.4 99.8 101.8 99.8 102.8 91.0 106.3 98.8 101.7 105.1 98.4 75.2 99.8 99.5 93.7 102.9 107.2 115.0 106.8 118.1 67.1 95.4 92.0 85.3

% Chg

My Property 69.8 214.5 263.8 160.1 148.0 506.5 259.1 226.2 237.7 281.1 102.5 164.6 199.9 295.7 223.3 286.2 204.9 270.7 281.1 382.8 304.1 163.2 151.5 183.4 342.8 503.6 236.3 123.0 284.5

Competitive Set 53.5 66.4 112.0 84.6 125.9 200.0 105.5 101.7 112.0 108.5 115.7 129.6 129.6 142.1 109.1 84.6 75.7 68.2 127.5 144.6 114.0 93.2 72.1 108.2 79.0 101.1 81.5 78.8 68.6 90.7 105.7

Index (RGI) 10.7 89.0 71.6 40.9 9.8 102.1 74.7 61.7 59.2 82.8 -6.1 15.2 30.6 63.4 54.6 109.2 73.6 120.5 67.5 97.4 88.8 36.3 46.1 36.1 147.3 200.1 85.4 24.7 128.0

ADR

STR # 27046 ChainID: FL251 MgtCo: None Owner: None

RevPAR

For the Month of: January 2019 Date Created: February 20, 2019 Daily Competitive Set Data Excludes Subject Property


Occupancy (%)

51

61

71

81

91

101

111

121

131

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Daily Indexes for the Month of January

Occupancy Index (MPI) ADR Index (ARI) RevPAR Index (RGI) 100 %

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MARKET OVERVIEW

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Marianna, Florida: The City of Southern Charm

Located in the heart of Florida's Panhandle, Marianna is a town rich with history, surrounded by natural wonders and outdoor recreation opportunities. Founded in 1827, Marianna was home to Florida Confederate Governor John Milton, and the site of a Civil War battle that is celebrated in reenactment.

Marianna is situated between Pensacola and Tallahassee on I-10. Other nearby cities served by airports include Panama City, FL and Dothan, AL.

Marianna is the county seat for Jackson County, and home to Chipola College, a public college serving over 2,000 students. Largest area employers include:

Family Dollar Distribution Center

Walmart Supercenter

Signature Healthcare

Rex Lumber Company

Anderson Columbia

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MARKET OVERVIEW

Outdoors enthusiasts will find a rich variety of adventures to explore in and around Marianna. The region is packed with rivers and lakes popular with kayakers, fishers, and boating enthusiasts, including Three Rivers State Park and Lake Seminole.

The region is dotted with caverns both above ground and underwater. Florida Caverns State Park takes visitors through Florida's only dry cavern. Merritts Mill Pond is renowned among scuba enthusiasts for its crystal-clear spring water and array of underwater caverns to explore.

History buffs enjoy driving the Spanish Heritage Trail, highlighting the history of Florida's time as a colony of Spain. Various plantations and historic structures spotlight the antebellum years, and the Civil War Battle of Marianna is re-enacted by local volunteers.

Chipola College Center for the Arts brings musical and performing arts events to the region.

LOCAL MARKET DEMOGRAPHICS

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PopulationIn 2018, the population in your selected geography is 8,583. The population has changed by -2.58% since 2000. It is estimated that the population in your area will be 8,594 five years from now, which represents a change of 0.13% from the current year. The current population is 47.98% male and 52.02% female. The median age of the population in your area is 42.56, compare this to the US average which is 37.95. The population density in your area is 109.35 people per square mile.

HouseholdsThere are currently 3,574 households in your selected geography. The number of households has changed by -3.22% since 2000. It is estimated that the number of households in your area will be 3,621 five years from now, which represents a change of 1.32% from the current year. The average household size in your area is 2.35 persons.

IncomeIn 2018, the median household income for your selected geography is$41,112, compare this to the US average which is currently $58,754. The median household income for your area has changed by 36.71%since 2000. It is estimated that the median household income in your area will be $46,831 five years from now, which represents a change of 13.91% from the current year.

The current year per capita income in your area is $24,391, compare this to the US average, which is $32,356. The current year average household income in your area is $57,917, compare this to the US average which is $84,609.

Race and EthnicityThe current year racial makeup of your selected area is as follows:70.04% White, 24.05% Black, 0.44% Native American and 1.20%Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and 5.59%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.

People of Hispanic origin make up 3.83% of the current yearpopulation in your selected area. Compare this to the US average of18.01%.

HousingThe median housing value in your area was $117,269 in 2018,compare this to the US average of $201,842. In 2000, there were2,719 owner occupied housing units in your area and there were 974renter occupied housing units in your area. The median rent at thetime was $333.

EmploymentIn 2018, there are 6,576 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that58.97% of employees are employed in white-collar occupations inthis geography, and 40.10% are employed in blue-collar occupations.In 2018, unemployment in this area is 4.66%. In 2000, the averagetime traveled to work was 21.00 minutes.

LOCAL MARKET DEMOGRAPHICS

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POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection

Total Population 50 2,477 8,594

2018 Estimate


2010 Census


2000 Census


Daytime Population

2018 Estimate 47 2,023 10,811

HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection

Total Households 42 1,029 3,621

2018 Estimate


Average (Mean) Household Size 2.47 2.42 2.35

2010 Census


2000 Census

Total Households 43 993 3,693

HOUSING UNITS 1 Miles 3 Miles 5 Miles Occupied Units

2023 Projection 42 1,029 3,621

2018 Estimate 50 1,206 4,402

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate

$200,000 or More 2.66% 2.26% 2.16%

$150,000 - $199,000 1.29% 2.27% 2.15%

$100,000 - $149,000 10.68% 10.87% 9.51%

$75,000 - $99,999 9.37% 8.86% 8.96%

$50,000 - $74,999 21.82% 19.34% 17.00%

$35,000 - $49,999 20.66% 17.45% 17.76%

$25,000 - $34,999 12.78% 13.64% 13.15%

$15,000 - $24,999 10.29% 13.65% 13.67%

Under $15,000 10.43% 11.66% 15.65%

Average Household Income $57,767 $60,576 $57,917

Median Household Income $43,157 $44,432 $41,112

Per Capita Income $47,644 $25,112 $24,391

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population 25+ by Education Level

2018 Estimate Population Age 25+ 35 1,768 6,020

Elementary (0-8) 4.40% 3.40% 3.92%

Some High School (9-11) 6.70% 5.61% 6.55%

High School Graduate (12) 30.10% 28.71% 28.49%

Some College (13-15) 31.17% 26.43% 24.53%

Associate Degree Only 11.42% 13.18% 12.45%

Bachelors Degree Only 7.67% 12.55% 13.92%

Graduate Degree 4.92% 8.62% 8.93%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-

sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID Z0240186

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