Hotel-Motel

Comfort Suites Abingdon I-81

1093 Old Berry Drive, Abingdon, VA 24210

Listing Price: Request For Offer

Number of Rooms
65
RevPAR
$45
Year Built
2004

Investment Overview

Comfort Suites Abingdon I-81, situated on a two acre lot, is a 65 room, three-story, interior-corridor hotel built in 2005. Subject hotel is in excellent condition, having completed the brands Move to Modern property improvement plan, leaving a new owner with little to no PIP anticipated Hotel is expected to receive the brands Gold award (at a minimum), if not Platinum.

In 2017/2018, property performance was significantly impacted by Virginia Department of Transportation (VDOT) I-81 exit 14 (subject property's exit) construction, lasting two years and resulting in traffic re-routing and periodic partial/full closures. In 2019, Comfort Suites Abingdon performance significantly rebounded, however hotel was impacted this time, by Move to Modern renovation. Hotel is now positioned, with completion of both VDOT construction and property renovation, to significantly outperform property best-year historicals. Significant performance upside should await a new owner.

The hotel is located in Southwestern Virginia, approximately 15 miles from the Tennessee border and ideally located within one-half mile of I-81. The Comfort Suites is the perfect location for leisure travelers looking to experience the dynamic outdoor, cultural, culinary and shopping scenes of this charming small southern town, as well as those doing business in the area or simply traveling the heavily trafficked I-81 corridor on their way through the state.

Hotel amenities include marketplace, indoor heated pool and hot tub, free hot breakfast, fitness facility, in-room refrigerators and coffee/tea makers.

Investment Highlights

  • Move To Modern Completion Allows for Property Repositioning
  • Significant Upside Performance Potential
  • Little to No Change of Ownership PIP
  • I-81 Corridor Location
  • Interior Corridor
  • Fee Simple Offering

Exclusively Listed By

  • David Wiener

    Associate

    Email David

    License(s): VA: 0225232581

    Washington, D.C.

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

Hotel-Motel

Comfort Suites Abingdon I-81

Listing Price: Request For Offer

Number of Rooms
65
RevPAR
$45
Year Built
2004

Investment Highlights

  • Move To Modern Completion Allows for Property Repositioning
  • Significant Upside Performance Potential
  • Little to No Change of Ownership PIP
  • I-81 Corridor Location
  • Interior Corridor
  • Fee Simple Offering

Investment Overview

Comfort Suites Abingdon I-81, situated on a two acre lot, is a 65 room, three-story, interior-corridor hotel built in 2005. Subject hotel is in excellent condition, having completed the brands Move to Modern property improvement plan, leaving a new owner with little to no PIP anticipated Hotel is expected to receive the brands Gold award (at a minimum), if not Platinum.

In 2017/2018, property performance was significantly impacted by Virginia Department of Transportation (VDOT) I-81 exit 14 (subject property's exit) construction, lasting two years and resulting in traffic re-routing and periodic partial/full closures. In 2019, Comfort Suites Abingdon performance significantly rebounded, however hotel was impacted this time, by Move to Modern renovation. Hotel is now positioned, with completion of both VDOT construction and property renovation, to significantly outperform property best-year historicals. Significant performance upside should await a new owner.

The hotel is located in Southwestern Virginia, approximately 15 miles from the Tennessee border and ideally located within one-half mile of I-81. The Comfort Suites is the perfect location for leisure travelers looking to experience the dynamic outdoor, cultural, culinary and shopping scenes of this charming small southern town, as well as those doing business in the area or simply traveling the heavily trafficked I-81 corridor on their way through the state.

Hotel amenities include marketplace, indoor heated pool and hot tub, free hot breakfast, fitness facility, in-room refrigerators and coffee/tea makers.

Exclusively Listed By

  • David Wiener

    Associate

    Email David

    License(s): VA: 0225232581

    Washington, D.C.

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

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