Commercial property for sale: 1,000 m² in Tbilisi, Mtskheta Exit, 11 – $2,000,000

Boutique Hotel • 4 Floors • 24 Rooms SPA • Terraces • After Renovation • Unfurnished Location: Tbilisi, Vake, Mtskheta Turn, 11 One of the most prestigious and in-demand areas of the city, close to the city center, embassies, parks, restaurants, and business infrastructure. ⸻ Property Description For sale: a fully renovated hotel in the Vake district, an ideal format for a boutique / lifestyle hotel: • 24 hotel rooms • 4 floors • SPA zone (additional revenue stream) • Spacious terraces with high guest demand • Modern engineering systems • Ready for furnishing and fast launch • Freedom to choose concept and brand The absence of furniture allows the investor to set the desired price segment from the start and increase profitability. Price: $2,000,000 ⸻ Financial Model (Realistic) Additional investments: • Furniture for rooms and common areas: ≈ $200,000 • SPA equipment (if required): ≈ $100,000 Total investment: ≈ $2,300,000 ⸻ Room Revenue • Average Daily Rate (ADR): $110 • Average occupancy: 65% Revenue: • 24 × 110 × 30 × 65% = ≈ $51,480 / month • ≈ $617,760 / year ⸻ Additional SPA Revenue • Hotel guests + external clients • ≈ $6,000–8,000 / month • ≈ $84,000 / year ⸻ Total Annual Revenue ≈ $702,000 Expenses: • Operating expenses: ~35% Net Profit ≈ $456,000 / year ⸻ Returns • ROI: ~19–20% annually • Payback period: ~5–5.5 years ⸻ Why This Is a Strong Investment Asset ✔ Prestigious Vake location ✔ SPA increases average check ✔ High-demand boutique format ✔ Renovated — quick launch ✔ Strong capital growth potential