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Hotel-Motel

Scholar Morgantown, Tapestry Collection by Hilton

345 Chestnut St, Morgantown, WV 26505

Listing Price: Request For Offer

Number of Rooms
41
RevPAR
$96
Gross SF
68,162
Year Built
2013

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 41-unit, Scholar Morgantown, Tapestry Collection by Hilton, located in Morgantown, West Virginia. The subject property is ideally located in downtown Morgantown with close proximity to all demand generators. The property features four floors of well-maintained guest rooms. Premium amenities include an on-site restaurant and bar. Common area amenities include a business center with fax & photocopy machine, shared lounge and TV area, vending machines, 24-hour front desk, dry cleaning, and fitness center. Parking is available on-site for an additional fee. Each guest room is equipped with free Wi-Fi, desk with chair, flat-screen TV, in-room coffee & tea maker, iron & ironing board, private bathroom, and sofa.

The Scholar Morgantown is ideally located in Morgantown, Virginia, which is primarily known for being home to West Virginia University. The university has an enrollment of nearly 20,000 undergraduate students and offers an expansive athletics program, research opportunities, and plenty of graduate degrees as well. In addition to the main university campus, an additional campus is in downtown Morgantown. Local attractions in the area include Lakeview Golf Resort & Spa, West Ridge Business & Retail Park, and Camp Dawson Military Reservation. The National Energy Technology Lab, located 3.7 miles away, is U.S. national laboratory regulated by the Department of Energy of Fossil Energy which monitors domestic energy resources. The lab employs more than 1,500 individuals including contractors and full-time federal employees. The proposed Mountain Valley Pipeline (MVP) project is a natural gas pipeline system that spans approximately 300 miles from northwestern West Virginia to Southern Virginia and is nearing completion. With vast supply of natural gas coming from Marcellus and Utica shale production the state’s economy is expected to see a significant positive impact, especially the lodging industry, which would have to accommodate contractors affiliated with the natural gas industry. For traveling to the area, the Morgantown Municipal Airport, 3.5 miles away, offers daily flights through Southern Airways to and from Pittsburgh International Airport and the Washington Dulles Airport.

Investment Highlights

  • Fee simple interest in the 41-unit, Scholar Morgantown, Tapestry Collection by Hilton, located in Morgantown, West Virginia
  • Prime downtown location just steps from West Virginia University, restaurants, retail, and entertainment. Only one of two hotels located in the downtown market
  • Steps to a WVU Personal Rapid Transportation (PRT) System station, one of the first driverless transit systems which connects key areas of Morgantown; a major convenience for students and faculty
  • West Virginia University is a flagship, public university with nearly 26,000 students enrolled, a nationally recognized athletics program, a tier 1 significant research program, and top graduate programs
  • Just 2 miles to Mountaineer Field, WVU's football stadium, notes as one of the most supported football programs in the country, averaging 60,000 fans per home game

Exclusively Listed By

  • Chase Dewese

    Senior Director Investments

    (704) 831-4636

    Email Chase

    License(s): NC: 293623, WV: WVS240303513

    Charlotte Uptown

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (216) 264-2060

    License(s) WV: WVB250301068

    West Virginia

Hotel-Motel

Scholar Morgantown, Tapestry Collection by Hilton

Listing Price: Request For Offer

Number of Rooms
41
RevPAR
$96
Gross SF
68,162
Year Built
2013

Investment Highlights

  • Fee simple interest in the 41-unit, Scholar Morgantown, Tapestry Collection by Hilton, located in Morgantown, West Virginia
  • Prime downtown location just steps from West Virginia University, restaurants, retail, and entertainment. Only one of two hotels located in the downtown market
  • Steps to a WVU Personal Rapid Transportation (PRT) System station, one of the first driverless transit systems which connects key areas of Morgantown; a major convenience for students and faculty
  • West Virginia University is a flagship, public university with nearly 26,000 students enrolled, a nationally recognized athletics program, a tier 1 significant research program, and top graduate programs
  • Just 2 miles to Mountaineer Field, WVU's football stadium, notes as one of the most supported football programs in the country, averaging 60,000 fans per home game

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 41-unit, Scholar Morgantown, Tapestry Collection by Hilton, located in Morgantown, West Virginia. The subject property is ideally located in downtown Morgantown with close proximity to all demand generators. The property features four floors of well-maintained guest rooms. Premium amenities include an on-site restaurant and bar. Common area amenities include a business center with fax & photocopy machine, shared lounge and TV area, vending machines, 24-hour front desk, dry cleaning, and fitness center. Parking is available on-site for an additional fee. Each guest room is equipped with free Wi-Fi, desk with chair, flat-screen TV, in-room coffee & tea maker, iron & ironing board, private bathroom, and sofa. The Scholar Morgantown is ideally located in Morgantown, Virginia, which is primarily known for being home to West Virginia University. The university has an enrollment of nearly 20,000 undergraduate students and offers an expansive athletics program, research opportunities, and plenty of graduate degrees as well. In addition to the main university campus, an additional campus is in downtown Morgantown. Local attractions in the area include Lakeview Golf Resort & Spa, West Ridge Business & Retail Park, and Camp Dawson Military Reservation. The National Energy Technology Lab, located 3.7 miles away, is U.S. national laboratory regulated by the Department of Energy of Fossil Energy which monitors domestic energy resources. The lab employs more than 1,500 individuals including contractors and full-time federal employees. The proposed Mountain Valley Pipeline (MVP) project is a natural gas pipeline system that spans approximately 300 miles from northwestern West Virginia to Southern Virginia and is nearing completion. With vast supply of natural gas coming from Marcellus and Utica shale production the state’s economy is expected to see a significant positive impact, especially the lodging industry, which would have to accommodate contractors affiliated with the natural gas industry. For traveling to the area, the Morgantown Municipal Airport, 3.5 miles away, offers daily flights through Southern Airways to and from Pittsburgh International Airport and the Washington Dulles Airport.

Exclusively Listed By

  • Chase Dewese

    Senior Director Investments

    (704) 831-4636

    Email Chase

    License(s): NC: 293623, WV: WVS240303513

    Charlotte Uptown

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (216) 264-2060

    License(s): WV: WVB250301068

    West Virginia

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