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Hotel-Motel

Comfort Suites Inn at Ridgewood Farms

2898 Keagy Rd, Salem, VA 24153

Listing Price: $5,650,000

Cap Rate
8.23%
Number of Rooms
78
RevPAR
$52
Gross SF
59,523
Price/Room
$72,436
RRM
3.70
Price/Gross SF
$94.92
Year Built
1996

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 78-unit, Comfort Suites Inn & Ridgewood Farms, located in Salem, Virginia. the subject property is ideally located on 3.17 acres and features 3 floors of well-maintained guest rooms. Common area amenities include complimentary breakfast, fitness center, guest laundry facilities, free on-site parking and 24-hour front desk. Additional amenities include a seasonal outdoor swimming pool, banquet room and business center equipped with fax and photocopy machine. Each guest room is furnished with free Wi-Fi, TV with HBO, microwave, refrigerator, in-room coffee & tea maker, desk with chair, private bathroom, and hair dryer. The Comfort Suites Inn at Ridgewood Farm is just off Highway 11 and near everything on your Salem itinerary. It’s a short drive to play a round at Hidden Valley Country Club and to hike through Mowles Spring Park. Our convenient location makes it easy to attend an event at the Berglund Center or to enjoy craft brews and comfort food at Mac and Bob’s. Visiting families and prospective students alike appreciate our proximity to Roanoke College, named one of the 20 most beautiful campuses in the country. We’re also close to Salem Memorial Ballpark and the Salem Civic Center. Salem, Virginia is located in Roanoke County and is home to several major businesses. Top employers in Roanoke County consist of Wal-Mart, Kroger, Carilion Clinic, HCA Virginia Health Systems, Wells Fargo, Norfolk Southern, and Yokohama Tire Corporation. Other recreational and local attractions in Salem include the Salem Civic Center, Salem Fair Grounds, Salem Red Sox Baseball Stadium, and Salem Museum . Roanoke College is also a short drive from the subject property. Choice Hotels International (NYSE: CHH) is one of the largest and most successful lodging franchisors in the world. Choice currently franchises more than 7,000 hotels, representing nearly 570,000 rooms, in more than 40 countries and territories. Ranging from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments, Choice-branded properties provide business and leisure travelers with a range of high-quality, high-value lodging options throughout the United States and internationally. For more information on Choice Hotels, visit the company’s website: www.choicehotels.com.

Investment Highlights

  • Fee simple interest in the 78-unit, Comfort Suites Inn at Ridgewood Farms, located in Salem, Virginia
  • Ideally located directly across from Lewis Gale Medical Center and many restraurant & retail options
  • Salem VA Medical Center, 2.5 miles away, is the largest employer in the area with more than 1,500 employees

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Hotel-Motel

Comfort Suites Inn at Ridgewood Farms

Listing Price: $5,650,000

Cap Rate
8.23%
Number of Rooms
78
RevPAR
$52
Gross SF
59,523
Price/Room
$72,436
RRM
3.70
Price/Gross SF
$94.92
Year Built
1996

Investment Highlights

  • Fee simple interest in the 78-unit, Comfort Suites Inn at Ridgewood Farms, located in Salem, Virginia
  • Ideally located directly across from Lewis Gale Medical Center and many restraurant & retail options
  • Salem VA Medical Center, 2.5 miles away, is the largest employer in the area with more than 1,500 employees

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 78-unit, Comfort Suites Inn & Ridgewood Farms, located in Salem, Virginia. the subject property is ideally located on 3.17 acres and features 3 floors of well-maintained guest rooms. Common area amenities include complimentary breakfast, fitness center, guest laundry facilities, free on-site parking and 24-hour front desk. Additional amenities include a seasonal outdoor swimming pool, banquet room and business center equipped with fax and photocopy machine. Each guest room is furnished with free Wi-Fi, TV with HBO, microwave, refrigerator, in-room coffee & tea maker, desk with chair, private bathroom, and hair dryer. The Comfort Suites Inn at Ridgewood Farm is just off Highway 11 and near everything on your Salem itinerary. It’s a short drive to play a round at Hidden Valley Country Club and to hike through Mowles Spring Park. Our convenient location makes it easy to attend an event at the Berglund Center or to enjoy craft brews and comfort food at Mac and Bob’s. Visiting families and prospective students alike appreciate our proximity to Roanoke College, named one of the 20 most beautiful campuses in the country. We’re also close to Salem Memorial Ballpark and the Salem Civic Center. Salem, Virginia is located in Roanoke County and is home to several major businesses. Top employers in Roanoke County consist of Wal-Mart, Kroger, Carilion Clinic, HCA Virginia Health Systems, Wells Fargo, Norfolk Southern, and Yokohama Tire Corporation. Other recreational and local attractions in Salem include the Salem Civic Center, Salem Fair Grounds, Salem Red Sox Baseball Stadium, and Salem Museum . Roanoke College is also a short drive from the subject property. Choice Hotels International (NYSE: CHH) is one of the largest and most successful lodging franchisors in the world. Choice currently franchises more than 7,000 hotels, representing nearly 570,000 rooms, in more than 40 countries and territories. Ranging from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments, Choice-branded properties provide business and leisure travelers with a range of high-quality, high-value lodging options throughout the United States and internationally. For more information on Choice Hotels, visit the company’s website: www.choicehotels.com.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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