Hotel-Motel
Marjac Suites
2201 Atlantic Ave, Virginia Beach, VA 23451
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale the 60-unit MarjacSuites, a value-add Oceanfront hospitality opportunity ideally positioned in the heart of Virginia Beach's premier tourism district. Located along the iconic Virginia Beach Oceanfront, the Property provides guests with walkable access to the beach, Boardwalk, restaurants, nightlife, retail, and entertainment venues that attract millions of visitors annually.
Virginia Beach welcomed 14.3 million visitors in 2024 and generated $3.9 billion in tourism-related economic impact, supported by a diverse mix of leisure, convention, sports, military, and corporate demand. The market benefits from significant year-round visitation driven by the Virginia Beach Convention Center, nationally recognized sporting events, and one of the nation's largest concentrations of military personnel. The offering presents investors with the rare opportunity to acquire Oceanfront real estate in a highly sought-after coastal destination while unlocking additional value through strategic renovations, operational enhancements, and repositioning initiatives.
Marjac Suites
Investment Highlights
- Rare opportunity to acquire Oceanfront real in the heart of Virginia Beach
- Steps from the Boardwalk, dining, nightlife, and attractions
- Current ownership completed over $1M of capital improvements from 2022-2024
- Positioned within a market welcoming 14.3 million visitors each year
- Strategically located in the nation's largest concentration of military personnel
Investment Highlights
- Rare opportunity to acquire Oceanfront real in the heart of Virginia Beach
- Steps from the Boardwalk, dining, nightlife, and attractions
- Current ownership completed over $1M of capital improvements from 2022-2024
- Positioned within a market welcoming 14.3 million visitors each year
- Strategically located in the nation's largest concentration of military personnel
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale the 60-unit MarjacSuites, a value-add Oceanfront hospitality opportunity ideally positioned in the heart of Virginia Beach's premier tourism district. Located along the iconic Virginia Beach Oceanfront, the Property provides guests with walkable access to the beach, Boardwalk, restaurants, nightlife, retail, and entertainment venues that attract millions of visitors annually. Virginia Beach welcomed 14.3 million visitors in 2024 and generated $3.9 billion in tourism-related economic impact, supported by a diverse mix of leisure, convention, sports, military, and corporate demand. The market benefits from significant year-round visitation driven by the Virginia Beach Convention Center, nationally recognized sporting events, and one of the nation's largest concentrations of military personnel. The offering presents investors with the rare opportunity to acquire Oceanfront real estate in a highly sought-after coastal destination while unlocking additional value through strategic renovations, operational enhancements, and repositioning initiatives.
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