LodgingIndex - Property for Sale in Virginia
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Location: Central Virginia, I-95 Corridor
Number of Units: 110
Year Constructed: 1973
# of Stories: 2
Chain Affiliated ? : Yes
Cost to Transfer Franchise: Per Franchisor
Brand/TripAdvisor Rating : 3.8 / 5
Offering Price: $ 5,000,000
Gross Rooms Revenue: $ 1,600,000 in 2017
Gross F&B Revenue: N/A
Other Revenue: $ 52,000 Annually (see below)
Annual Property Taxes: $ 30,000
Annual Insurance Costs: $ 19,500
Seller/Private Financing Available ?: No
Other Property Included: Hotel sits on 4.2 acre site
Other Information: This property is prominently located with great access and excellent
visibility to the always-busy Interstate 95. The property is very clean and nicely maintained, highly
rated by guests, and performs well. It features a beautiful lobby and common spaces, spacious guest rooms,
an indoor and outdoor pool, a fitness room, meeting room, and two large banquet rooms.
Notes regarding "Other Revenues" above; the banquet rooms, restaurant and lounge are leased
(and have been, for many years) to a tenant-operator, resulting in the additional revenue indicated above.
This hotel property occupies 4.2 total acres, some or all of this land can eventually be re-developed.
Land this close to I-95, is extremely valuable. There's money in the dirt!
Package Deal Available: The seller of this hotel is selling another, in the same market. A significant discount
of up to $ 500,000 off the purchase price of this property can be considered, if the buyer opts to purchase both hotels, simultaneously.
Details regarding the other hotel can be seen by clicking here.
Interested in this property? If you would like to obtain more information about this property-for-sale, please
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