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Hotel-Motel

Econo Lodge Cherry Point

1220 E Main St, Havelock, NC 28532

Listing Price: $2,900,000

Cap Rate
8.56%
Number of Rooms
73
RevPAR
$23
Gross SF
37,272
Price/Room
$39,726
RRM
4.64
Price/Gross SF
$77.81
Year Built
1978

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee-simple interest in the 73-unit, Econo Lodge Cherry Point located in North Carolina. This well-appointed hotel was constructed in 1978 and is being offered well below replacement costs with the ability to retain the current franchise. Guest rooms provide complimentary Wi-Fi and HDTVs, plus minifridges, microwaves, hair dryers, ironing boards and coffeemakers. Parking is complimentary, and there's also an outdoor pool.

Investment Highlights

  • Fee simple interest in the 73-unit, Econo Lodge Cherry Point
  • Offered unencumbered of debt and management
  • Strategically located off Highway 70
  • Near Cherry Plaza Shopping Center and Pine Cliff Recreation Area

Exclusively Listed By

  • Joce Messinger

    First Vice President Investments

    (843) 952-2255

    Email Joce

    License(s): SC: 80481, GA: 375018, NC: LC810

    Charleston

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Hotel-Motel

Econo Lodge Cherry Point

Listing Price: $2,900,000

Cap Rate
8.56%
Number of Rooms
73
RevPAR
$23
Gross SF
37,272
Price/Room
$39,726
RRM
4.64
Price/Gross SF
$77.81
Year Built
1978

Investment Highlights

  • Fee simple interest in the 73-unit, Econo Lodge Cherry Point
  • Offered unencumbered of debt and management
  • Strategically located off Highway 70
  • Near Cherry Plaza Shopping Center and Pine Cliff Recreation Area

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee-simple interest in the 73-unit, Econo Lodge Cherry Point located in North Carolina. This well-appointed hotel was constructed in 1978 and is being offered well below replacement costs with the ability to retain the current franchise. Guest rooms provide complimentary Wi-Fi and HDTVs, plus minifridges, microwaves, hair dryers, ironing boards and coffeemakers. Parking is complimentary, and there's also an outdoor pool.

Exclusively Listed By

  • Joce Messinger

    First Vice President Investments

    (843) 952-2255

    Email Joce

    License(s): SC: 80481, GA: 375018, NC: LC810

    Charleston

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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