PROPERTY FOR SALE:  NORTH CAROLINA

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Location: Charlotte Area, I-85
Number of Units: 70
Year Constructed: 1975
Corridors:  Exterior
# of Stories: 2
Chain Affiliated ? : No
Cost to Transfer Franchise: N/A
AAA Rated ? : No

Asking Price: $ 2,000,000
Gross Rooms Revenue: $ 375,000
Gross F&B Revenue: N/A
Gross Other Revenue: $ 6,000
Annual Property Taxes: $ 14,000
Annual Insurance Costs: $ 12,000
Seller/Private Financing Available ?: No

Other Property Included: N/A

Other Information: This property features easy access and outstanding visibility from a busy,
interstate highway that's adjacent. Many renovation projects have been ongoing in the past few years;
including the installation of stucco to the exterior, new carpet, furniture, and lighting packages in
the guestrooms, an overhaul of the lobby, and new exterior landscaping, including flowers, flower beds
and fresh mulch. Additionally, 20 standard rooms were recently converted to 10 fully furnished apartments
with full kitchens, to accommodate the extended stay traveler.

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