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Hotel-Motel

Microtel Inn Cherokee

674 Casino Trail, Whittier, NC 28789

Listing Price: $3,250,000

Cap Rate
8.90%
Number of Rooms
62
RevPAR
$59
Price/Room
$52,419
RRM
2.50
Year Built
2003

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the Microtel Inn & Suites located at 674 Casino Trail in Cherokee, NC. The hotel was built in 2003 and renovated in 2014. The subject property is a three-story, 62 room interior corridor hotel. Common area amenities include an outdoor swimming pool, complimentary breakfast, free on-site parking for both personal vehicles and buses. The hotel features a shuttle to local attractions which makes getting around easy for guests. Each unit offers free Wi-Fi, in-room coffee and tea maker, flat screen TV, safe deposit box, desk with chair, microwave, and mini-fridge. Suites offer extra living space for a more spacious feel. Cherokee is home to the Harrah's Cherokee Casino which is the largest Casino in the state of North Carolina and is 1 Mile from the Microtel Inn & Suites. Additional recreational attractions include the Sequoyah National Golf Club, Fire Mountain Trails, Ocanaluftee Indian Village, and the Museum of the Cherokee Indian. Restaurants that are less than 1 mile from the hotel include Taco Bell, Dominos, Pizza Hut, Arby's, McDonalds, Rancho Viejo Mexican Restaurant, and the Waffle House. The Cherokee Indian Reservation blends natural beauty, rich Indian culture, and exciting family attractions into an ideal vacation destination. With 9 million visitors a year, the nation's most popular national park is also one of the largest, offering more than 800 square miles of protected forest almost equally divided between Tennessee and North Carolina. Encompassing the communities of Murphy, Andrews and Brasstown, scenic Cherokee County offers a wealth of outdoor recreational activities, small town charm, and historic sites reflecting the area’s history and cultural heritage.

Investment Highlights

  • Leasehold Interest in the 2003 build, 3 story, 62 key, Microtel Inn & Suites located in Cherokee, NC
  • Minimal PIP expected from Wyndham Franchise for new ownership
  • Located near the Harrah's Casino, a major demand generator for the region

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Hotel-Motel

Microtel Inn Cherokee

Listing Price: $3,250,000

Cap Rate
8.90%
Number of Rooms
62
RevPAR
$59
Price/Room
$52,419
RRM
2.50
Year Built
2003

Investment Highlights

  • Leasehold Interest in the 2003 build, 3 story, 62 key, Microtel Inn & Suites located in Cherokee, NC
  • Minimal PIP expected from Wyndham Franchise for new ownership
  • Located near the Harrah's Casino, a major demand generator for the region

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the Microtel Inn & Suites located at 674 Casino Trail in Cherokee, NC. The hotel was built in 2003 and renovated in 2014. The subject property is a three-story, 62 room interior corridor hotel. Common area amenities include an outdoor swimming pool, complimentary breakfast, free on-site parking for both personal vehicles and buses. The hotel features a shuttle to local attractions which makes getting around easy for guests. Each unit offers free Wi-Fi, in-room coffee and tea maker, flat screen TV, safe deposit box, desk with chair, microwave, and mini-fridge. Suites offer extra living space for a more spacious feel. Cherokee is home to the Harrah's Cherokee Casino which is the largest Casino in the state of North Carolina and is 1 Mile from the Microtel Inn & Suites. Additional recreational attractions include the Sequoyah National Golf Club, Fire Mountain Trails, Ocanaluftee Indian Village, and the Museum of the Cherokee Indian. Restaurants that are less than 1 mile from the hotel include Taco Bell, Dominos, Pizza Hut, Arby's, McDonalds, Rancho Viejo Mexican Restaurant, and the Waffle House. The Cherokee Indian Reservation blends natural beauty, rich Indian culture, and exciting family attractions into an ideal vacation destination. With 9 million visitors a year, the nation's most popular national park is also one of the largest, offering more than 800 square miles of protected forest almost equally divided between Tennessee and North Carolina. Encompassing the communities of Murphy, Andrews and Brasstown, scenic Cherokee County offers a wealth of outdoor recreational activities, small town charm, and historic sites reflecting the area’s history and cultural heritage.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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