Hotel-Motel

Fairfield Inn & Suites Fairmont

27 Southland Dr, Fairmont, WV 26554

Listing Price: $5,500,000

Cap Rate
4.59%
Number of Rooms
84
RevPAR
$48
Price/Room
$65,476
RRM
3.79
Year Built
2004

Investment Overview

Marcus & Millichaps Hospitality Division, as an exclusive representative of the seller, is pleased to present to qualified investors the Fairfield Inn & Suites of Fairmont, West Virginia. The subject property in an 84-room interior-corridor asset located in Fairmont, West Virginia, just south of Morgantown. The property sits on a 2.78 acre lot at the crossroads of Interstate Highway 79 (46,513 VPD) and Route 250 (27,921 VPD). The property is located on Southland Drive, a high-traffic retail and office corridor of Fairmont most notable for the presence of shops, restaurants, and the Fairmont High-Technology Foundation I-79 Technology Park. The technology park is comprised of a 400-acre $553-million-dollar campus tenanted by the National Oceanic and Atmospheric Administration, the Environmental Security Computing Center, National Aeronautic and Space Administration, General Dynamics, FirstEnergy Corp, Northrop Grumman, as well as other credit tenants and federal agencies. The park
is home to over 30 businesses and over 1,000 employees. State Governor Jim Justice also announced in 2019 an expansion of the park which includes an additional 1,600 square feet of roadway infrastructure, new building pads, and a retail development area. Immediately adjacent to the Fairfield Inn & Suites is the redevelopment site of the 400,000-square-foot Middletown Mall, which is currently undergoing a complete rehabilitation to undergo re-tenanting with an expected opening date of 2021. An investor can realistically expect to significantly increase revenues with the presence of construction workers contracted to work on the I-79 Technology Park and Middletown Mall, and subsequently, traffic from guests who travel to visit the mall upon its grand re-opening.

Investment Highlights

  • Fee Simple Interest in the Limited-Service, Three-Story Hotel
  • Immediately Adjacent to the Middletown Mall Expansion and I-79 Technology Park
  • Premier Franchise Affiliation with Marriott Family of Brands
  • 84 Interior-Corridor Guest Rooms and Suites
  • Under-performing Property with Tremendous Upside upon Completion of PIP
  • Located at the Crossroads of Interstate Highway 79 (46K VPD) and Route 250 (28K VPD)

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    License(s): WV0019009

    West Virginia

Hotel-Motel

Fairfield Inn & Suites Fairmont

Listing Price: $5,500,000

Cap Rate
4.59%
Number of Rooms
84
RevPAR
$48
Price/Room
$65,476
RRM
3.79
Year Built
2004

Investment Highlights

  • Fee Simple Interest in the Limited-Service, Three-Story Hotel
  • Immediately Adjacent to the Middletown Mall Expansion and I-79 Technology Park
  • Premier Franchise Affiliation with Marriott Family of Brands
  • 84 Interior-Corridor Guest Rooms and Suites
  • Under-performing Property with Tremendous Upside upon Completion of PIP
  • Located at the Crossroads of Interstate Highway 79 (46K VPD) and Route 250 (28K VPD)

Investment Overview

Marcus & Millichaps Hospitality Division, as an exclusive representative of the seller, is pleased to present to qualified investors the Fairfield Inn & Suites of Fairmont, West Virginia. The subject property in an 84-room interior-corridor asset located in Fairmont, West Virginia, just south of Morgantown. The property sits on a 2.78 acre lot at the crossroads of Interstate Highway 79 (46,513 VPD) and Route 250 (27,921 VPD). The property is located on Southland Drive, a high-traffic retail and office corridor of Fairmont most notable for the presence of shops, restaurants, and the Fairmont High-Technology Foundation I-79 Technology Park. The technology park is comprised of a 400-acre $553-million-dollar campus tenanted by the National Oceanic and Atmospheric Administration, the Environmental Security Computing Center, National Aeronautic and Space Administration, General Dynamics, FirstEnergy Corp, Northrop Grumman, as well as other credit tenants and federal agencies. The park
is home to over 30 businesses and over 1,000 employees. State Governor Jim Justice also announced in 2019 an expansion of the park which includes an additional 1,600 square feet of roadway infrastructure, new building pads, and a retail development area. Immediately adjacent to the Fairfield Inn & Suites is the redevelopment site of the 400,000-square-foot Middletown Mall, which is currently undergoing a complete rehabilitation to undergo re-tenanting with an expected opening date of 2021. An investor can realistically expect to significantly increase revenues with the presence of construction workers contracted to work on the I-79 Technology Park and Middletown Mall, and subsequently, traffic from guests who travel to visit the mall upon its grand re-opening.

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    License(s): WV0019009

    West Virginia

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