Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 94-unit, Country Inn & Suites Asheville River Arts District, located in Asheville, North Carolina. The subject property is situated on 2.38 acres near downtown Asheville with close proximity to all demand generators. The subject property features 4-floors of well-maintained guest rooms and premium amenities including an indoor heated swimming pool and a shared outdoor lounge area with a fireplace. Common area amenities include vending machines, fitness center, complimentary breakfast, guest-laundry facilities, shuttle service, business center, and free on-site parking. Each guest room is equipped with free Wi-Fi, flat-screen TV, desk with chair, microwave, refrigerator, in-room coffee & tea maker, private bathroom, and hairdryer. The Country Inn & Suites is ideally located off Interstate-240, directly outside the heart of downtown Asheville. Nestled in the Blude Ridge Mountains, Asheville is known for being a popular tourist destination in North Carolina. The area features an abundance of local breweries, restaurants, outdoor attractions, retail and art galleries. Visitors can visit more than 50 breweries in the Asheville area and enjoy craft beers from local and regional vendors. A major demand generator for the area is the Biltmore Estate, which is a historic, 8,000-acre estate that is open for visitors to explore, dine, and shop. Healthcare is the largest industry in Asheville, with over 10 different medical centers. Mission Hospital’s flagship hospital located in Asheville, which is an 815 bed, level 2 trauma center and the largest hospital in western North Carolina. The University of North Carolina – Asheville, 8 miles away, enrolls more than 3,800 students and offers over 30 degree programs as well as graduate programs. Traveling to the area is easy with the Asheville Regional Airport, 13 miles away, which offers daily flights from major airlines Delta, American and Allegiant.