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Hotel-Motel

Days Inn Lexington

1620 Cotton Grove Rd, Lexington, NC 27292

Listing Price: $6,375,000

Cap Rate
10.48%
Number of Rooms
120
RevPAR
$41
Gross SF
58,296
Price/Room
$53,125
RRM
3.56
Price/Gross SF
$109.36
Year Built
1991

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 120-unit, Days Inn Lexington, located in Lexington, North Carolina. The subject property is ideally located on 4 acres and features 2 floors of well maintained guest rooms. Common area amenities include complimentary breakfast, 24-hour front desk, business center with fax & photocopy machine, meeting and banquet facilities, free on-site parking and vending machines. Each guest room is equipped with free Wi-Fi, flat-screen TV, desk with chair, microwave, refrigerator, in-room coffee & tea maker, iron and ironing board, and private bathroom. This 2-story hotel directly off Interstate 85 is 9.1 miles from Childress Vineyards and 10.4 miles from High Rock Lake. Located just south of Greensboro and North of Charlotte, Lexington is centrally located in the heart of the Piedmont Triad, offering both the genuine vibrancy of a small town and the convenience and accessibility to several nearby metropolitan areas. In comparison to the states better-known triad of Raleigh Durham Chapel Hill, the economy and lifestyle is more industrial and working-class, although there is a strong university presence and a high level of educational attainment. The economy has an interesting mix of declining and emerging industries, but employment overall has been relatively stable. Winston-Salem, as the name suggests, has been a center for the tobacco industry. Winston-Salem is also home to Wake Forest University, some affiliated high-tech business, a collection of banking centers and is home to Krispy Kreme donuts and a new Dell Computer plant. High Point is a world trade center for furniture and is still center of the state’s largest furniture-manufacturing industry. Downtown High Point is a fascinating collection of commercial, warehouse and showroom facilities centered on this industry. Winston-Salem epitomizes the shift from older economy to new economy, and High Point is an industry town shifting emphasis from manufacturing to becoming a trade and design center. For traveling to the area the Piedmont Triad Airport is located 38 miles away and provides service to more than 1.2 million passengers annually. Adjacent to the airport, Boom Supersonic, is developing a large scale Jet testing and manufacturing facility which has created an abundance of new jobs for the area.

Investment Highlights

  • Fee simple interest in the 120-unit, Days Inn Lexington, located in Lexington, North Carolina
  • Conveniently located direclty off I-85 with close proximity to all demand generators
  • Piedmont Triad Airport, 38 miles away, provides service to more than 1.2 million passengers annually
  • Central location between Winston-Salem (25 miles), High Point (22 miles) and Greensboro (36 miles)
  • Popular attractions include Lexington Golf Club, High Rock Lake, and Richard Childress Racing Museum

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Hotel-Motel

Days Inn Lexington

Listing Price: $6,375,000

Cap Rate
10.48%
Number of Rooms
120
RevPAR
$41
Gross SF
58,296
Price/Room
$53,125
RRM
3.56
Price/Gross SF
$109.36
Year Built
1991

Investment Highlights

  • Fee simple interest in the 120-unit, Days Inn Lexington, located in Lexington, North Carolina
  • Conveniently located direclty off I-85 with close proximity to all demand generators
  • Piedmont Triad Airport, 38 miles away, provides service to more than 1.2 million passengers annually
  • Central location between Winston-Salem (25 miles), High Point (22 miles) and Greensboro (36 miles)
  • Popular attractions include Lexington Golf Club, High Rock Lake, and Richard Childress Racing Museum

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 120-unit, Days Inn Lexington, located in Lexington, North Carolina. The subject property is ideally located on 4 acres and features 2 floors of well maintained guest rooms. Common area amenities include complimentary breakfast, 24-hour front desk, business center with fax & photocopy machine, meeting and banquet facilities, free on-site parking and vending machines. Each guest room is equipped with free Wi-Fi, flat-screen TV, desk with chair, microwave, refrigerator, in-room coffee & tea maker, iron and ironing board, and private bathroom. This 2-story hotel directly off Interstate 85 is 9.1 miles from Childress Vineyards and 10.4 miles from High Rock Lake. Located just south of Greensboro and North of Charlotte, Lexington is centrally located in the heart of the Piedmont Triad, offering both the genuine vibrancy of a small town and the convenience and accessibility to several nearby metropolitan areas. In comparison to the states better-known triad of Raleigh Durham Chapel Hill, the economy and lifestyle is more industrial and working-class, although there is a strong university presence and a high level of educational attainment. The economy has an interesting mix of declining and emerging industries, but employment overall has been relatively stable. Winston-Salem, as the name suggests, has been a center for the tobacco industry. Winston-Salem is also home to Wake Forest University, some affiliated high-tech business, a collection of banking centers and is home to Krispy Kreme donuts and a new Dell Computer plant. High Point is a world trade center for furniture and is still center of the state’s largest furniture-manufacturing industry. Downtown High Point is a fascinating collection of commercial, warehouse and showroom facilities centered on this industry. Winston-Salem epitomizes the shift from older economy to new economy, and High Point is an industry town shifting emphasis from manufacturing to becoming a trade and design center. For traveling to the area the Piedmont Triad Airport is located 38 miles away and provides service to more than 1.2 million passengers annually. Adjacent to the airport, Boom Supersonic, is developing a large scale Jet testing and manufacturing facility which has created an abundance of new jobs for the area.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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