Click on any photo for a larger, more detailed view

Location: Eastern NC, I-95
Number of Units: 95
Year Constructed: 1978
Corridors:  Exterior
# of Stories: 2
Chain Affiliated ? : No
Cost to Transfer Franchise: N/A
AAA Rated ? : No

Asking Price: $ 1,400,000 now $ 1,200,000
Gross Rooms Revenue: $ 32,750 Monthly Average *
Gross F&B Revenue: N/A
Gross Other Revenue: N/A
Annual Property Taxes: $ 15,000
Annual Insurance Costs: $ 15,500
Seller/Private Financing Available ?: Yes, See Below **

Other Property Included: N/A

Other Information: This property is prominently located with great access and excellent visibility to the always-busy Interstate 95.   The property consists of 3 separate buildings (a lobby building, and 2 guestroom buildings), it sits on 4.4 Acres, making it an ideal "redevelopment" opportunity . . . build a new hotel on an unused portion while still operating and collecting revenues from the existing hotel !  There is a spacious living quarters located in a separate building, great for an owner-operator.

* - Notes Regarding Revenue: Property was closed for a portion of 2007 for renovation.   Approximately half of the units (52 Units in one building) re-opened and were in operation for 8 months in 2007, and those units generated an average of $ 32,750 in monthly rooms revenue.  That projects to $ 393,000, if that same pace continues for a full 12 months.

Recent renovations projects include new furniture, mattresses, bedspreads and paint in the 52 operating guestrooms, and new carpeting in guestrooms as needed.

** - In order to expedite a quick closing, the seller is willing to finance the 75% of the purchase (long term) to qualified buyers, terms negotiable.

More Properties for Sale

LodgingIndex Mortgage Calculator
Annual Interest Rate:	Amount of Loan: $	Term in Months:
Monthly:		Clear current choices

 

Interested? If you would like to obtain more information about this property-for-sale, please complete and submit the form below.  Upon receipt of this form, the property owner will be notified of your inquiry, and you will receive a subsequent email, sent to the Email address you specify below, from LodgingIndex regarding this property.   Thereafter, discussions can start directly between you and the property owner.   In order to receive additional information, please make sure that you complete the form below and include an accurate, valid EMail address!   By submitting the form below, the inquirer agrees that all subsequent information obtained as a result of this inquiry is strictly confidential and is not to be disclosed to or shared with any outside parties.  Please refer any additional interested purchasers directly to www.lodgingindex.com.

< Your Name (First & Last) *

< Your Phone Number (Including Area Code) *

< Your EMail Address *

< (Property Code)

* = All above fields require an entry in order for your inquiry to be processed !

Comments:

All of the above information was obtained from the seller of the property and is deemed reliable, but not guaranteed.  LodgingIndex and its representatives assume no liability.  All information should be verified by the buyer.

Copyright © 2008

LodgingIndex provides Advertisement and Marketing Services only.  LodgingIndex and its representatives are not licensed real estate agents or brokers, and do no provide any services in that capacity.