Hotel-Motel

Days Inn Charlotte Woodlawn Near Carowinds

118 E Woodlawn Rd, Charlotte, NC 28217

Listing Price: $5,100,000

Cap Rate
10.36%
Number of Rooms
91
RevPAR
$44
Gross SF
37,554
Price/Room
$56,044
RRM
3.51
Price/Gross SF
$135.80
Year Built
1972

Investment Overview

Marcus & Millichap is pleased to offer a fee simple interest in the Days Inn Charlotte/Woodlawn, a two story, interior corridor, very well-maintained property directly off Interstate-77 with proximity to the Charlotte Douglas International Airport. The property consists of 91 units, which have been very well maintained and offered with a minimal Property Improvement Plan for a new owner. Subject property is strategically located with great proximity to all major demand generators and is within walking distance to many restaurants and businesses.

The Days Inn has strong historical revenues of over $1,400,000 during the past 3 years. The 2018 year-end revenues exceeded $1,450,000 with an approximate Net Operating Income of $550,000. Currently the property achieves a $44.01 RevPAR up 4.2% over the same period during the previous year. We expect the Days Inn Charlotte to exceed $1,500,000 in gross revenues during 2019 with an NOI of approximately $600,000. The subject property has CMBS debt that must be assumed with a 5% interest rate, maturing in 2025. A new investor will be required to inject nearly $2,500,000 and qualify to assume the current CMBS loan. A new investor can expect a return between 15-18% return in a strong market, with a proven track record.

Investment Highlights

  • Fee Simple Interest in the 91-Unit, Two-story, Interior Days Inn located in Charlotte
  • Located directly off Interstate-77, Experiencing a High Daily Traffic Count
  • Close Proximity to the Charlotte Douglas International Airport
  • 5 Miles from Uptown Charlotte home to NBA Hornets & NFL Panthers as well as NASCAR
  • 2018 Year End Revenues Exceeded $1.45MM with Extremely Strong Cash Flow
  • Upside Through the Completion of the Property Improvement Plan per Wyndham

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): NC: 303785

    North Carolina

Hotel-Motel

Days Inn Charlotte Woodlawn Near Carowinds

Listing Price: $5,100,000

Cap Rate
10.36%
Number of Rooms
91
RevPAR
$44
Gross SF
37,554
Price/Room
$56,044
RRM
3.51
Price/Gross SF
$135.80
Year Built
1972

Investment Highlights

  • Fee Simple Interest in the 91-Unit, Two-story, Interior Days Inn located in Charlotte
  • Located directly off Interstate-77, Experiencing a High Daily Traffic Count
  • Close Proximity to the Charlotte Douglas International Airport
  • 5 Miles from Uptown Charlotte home to NBA Hornets & NFL Panthers as well as NASCAR
  • 2018 Year End Revenues Exceeded $1.45MM with Extremely Strong Cash Flow
  • Upside Through the Completion of the Property Improvement Plan per Wyndham

Investment Overview

Marcus & Millichap is pleased to offer a fee simple interest in the Days Inn Charlotte/Woodlawn, a two story, interior corridor, very well-maintained property directly off Interstate-77 with proximity to the Charlotte Douglas International Airport. The property consists of 91 units, which have been very well maintained and offered with a minimal Property Improvement Plan for a new owner. Subject property is strategically located with great proximity to all major demand generators and is within walking distance to many restaurants and businesses.

The Days Inn has strong historical revenues of over $1,400,000 during the past 3 years. The 2018 year-end revenues exceeded $1,450,000 with an approximate Net Operating Income of $550,000. Currently the property achieves a $44.01 RevPAR up 4.2% over the same period during the previous year. We expect the Days Inn Charlotte to exceed $1,500,000 in gross revenues during 2019 with an NOI of approximately $600,000. The subject property has CMBS debt that must be assumed with a 5% interest rate, maturing in 2025. A new investor will be required to inject nearly $2,500,000 and qualify to assume the current CMBS loan. A new investor can expect a return between 15-18% return in a strong market, with a proven track record.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): NC: 303785

    North Carolina

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