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Hotel-Motel

Rodeway Inn & Suites Near Outlet Mall - Asheville

9 Wedgefield Dr, Asheville, NC 28806

Listing Price: $5,500,000

Cap Rate
8.90%
Number of Rooms
65
RevPAR
$50
Gross SF
46,188
Price/Room
$84,615
RRM
4.86
Price/Gross SF
$119.08
Year Built
1999

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 65-unit, Rodeway Inn & Suites Near Outlet Mall – Asheville, located in Asheville, North Carolina. The subject property is situated on 2.04 acres and features 4 floors of well-maintained guest rooms. Premium amenities at the hotel include a large parking lot suitable for buses and pet-friendly rooms to make traveling with pets more convenient. Common area amenities include complimentary coffee in the lobby, 24-hour front desk, guest-laundry facilities, copy & fax machines, vending machines, and free on-site parking. Each guest room is equipped with free Wi-Fi, flat-screen TV, microwave, refrigerator, in-room coffee & Tea maker, AM/FM clock radio, and hairdryer. Select rooms offer a sofa bed which creates additional sleeping arrangements and seating for guests. The Rodeway Inn & Suites is conveniently located off I-26 with close proximity to I-40 and I-240, making it extremely accessible. The Asheville area is known for being a popular North Carolina tourist destination, nestled in the Blue Ridge Mountains with an abundance of attractions, restaurants, retail, and accommodations. Once of the largest industries in Asheville is leisure & hospitality, which saw an upwards of 11.9 million visitors in 2019. Buncombe Country, where Asheville is located, generated more than $275 million in revenue from the hospitality industry, specifically hotels, in 2021. Top demand generators in the area include the Biltmore Estate, Mission Hospital, Asheville Outlets, and many outdoor attractions. The Biltmore Estate, 9 miles away, is a historic, 8,000-acre estate that is open for visitors to explore, dine, and shop. Special seasonal events are hosted at the Biltmore Estate drawing in more than 1.7 million visitors annually and generating more than $207 million in combined revenue from attractions on the estate. Healthcare is the largest industry in Asheville, with over 10 different medical centers. Mission Hospital’s flagship hospital located in Asheville, which is an 815 bed, level 2 trauma center and the largest hospital in western North Carolina. Other demand generators for the area include University of North Carolina – Asheville, 8 miles away, which enrolls more than 3,300 students, multiple local breweries, art galleries, and boutique retail stores. The Asheville Outlets area located less than 1 mile from the property, offering a wide range of retail outlets, dining options, and entertainment attractions. Traveling to the area is easy with the Asheville Regional Airport, 9 miles away, which offers daily flights from major airlines Delta, American and Allegiant.

Investment Highlights

  • Fee simple interest in the 65-unit, Rodeway Inn & Suites New Outlet Mall - Asheville, located in Asheville, North Carolina
  • Located off I-26 with close proximity to I-40 and I-240 | Proximity to all regional demand generators
  • The Biltmore Estate, located 9 miles away, is a 8,000 acre, historic estate built in the 1890s, that features a vineyard, restaurant, gardens and an inn
  • Asheville Regional Airport, 9 miles away, features flights from American, Delta, and Allegiant airlines
  • University of North Carolina - Asheville, 8 miles away, is ranked number 9 in the National Public Liberal Arts Colleges by the U.S. News report 2022
  • Asheville Outlets, less than 1 mile away, offers a variety of outlet retail stores, restaurants, and entertainment

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Hotel-Motel

Rodeway Inn & Suites Near Outlet Mall - Asheville

Listing Price: $5,500,000

Cap Rate
8.90%
Number of Rooms
65
RevPAR
$50
Gross SF
46,188
Price/Room
$84,615
RRM
4.86
Price/Gross SF
$119.08
Year Built
1999

Investment Highlights

  • Fee simple interest in the 65-unit, Rodeway Inn & Suites New Outlet Mall - Asheville, located in Asheville, North Carolina
  • Located off I-26 with close proximity to I-40 and I-240 | Proximity to all regional demand generators
  • The Biltmore Estate, located 9 miles away, is a 8,000 acre, historic estate built in the 1890s, that features a vineyard, restaurant, gardens and an inn
  • Asheville Regional Airport, 9 miles away, features flights from American, Delta, and Allegiant airlines
  • University of North Carolina - Asheville, 8 miles away, is ranked number 9 in the National Public Liberal Arts Colleges by the U.S. News report 2022
  • Asheville Outlets, less than 1 mile away, offers a variety of outlet retail stores, restaurants, and entertainment

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 65-unit, Rodeway Inn & Suites Near Outlet Mall – Asheville, located in Asheville, North Carolina. The subject property is situated on 2.04 acres and features 4 floors of well-maintained guest rooms. Premium amenities at the hotel include a large parking lot suitable for buses and pet-friendly rooms to make traveling with pets more convenient. Common area amenities include complimentary coffee in the lobby, 24-hour front desk, guest-laundry facilities, copy & fax machines, vending machines, and free on-site parking. Each guest room is equipped with free Wi-Fi, flat-screen TV, microwave, refrigerator, in-room coffee & Tea maker, AM/FM clock radio, and hairdryer. Select rooms offer a sofa bed which creates additional sleeping arrangements and seating for guests. The Rodeway Inn & Suites is conveniently located off I-26 with close proximity to I-40 and I-240, making it extremely accessible. The Asheville area is known for being a popular North Carolina tourist destination, nestled in the Blue Ridge Mountains with an abundance of attractions, restaurants, retail, and accommodations. Once of the largest industries in Asheville is leisure & hospitality, which saw an upwards of 11.9 million visitors in 2019. Buncombe Country, where Asheville is located, generated more than $275 million in revenue from the hospitality industry, specifically hotels, in 2021. Top demand generators in the area include the Biltmore Estate, Mission Hospital, Asheville Outlets, and many outdoor attractions. The Biltmore Estate, 9 miles away, is a historic, 8,000-acre estate that is open for visitors to explore, dine, and shop. Special seasonal events are hosted at the Biltmore Estate drawing in more than 1.7 million visitors annually and generating more than $207 million in combined revenue from attractions on the estate. Healthcare is the largest industry in Asheville, with over 10 different medical centers. Mission Hospital’s flagship hospital located in Asheville, which is an 815 bed, level 2 trauma center and the largest hospital in western North Carolina. Other demand generators for the area include University of North Carolina – Asheville, 8 miles away, which enrolls more than 3,300 students, multiple local breweries, art galleries, and boutique retail stores. The Asheville Outlets area located less than 1 mile from the property, offering a wide range of retail outlets, dining options, and entertainment attractions. Traveling to the area is easy with the Asheville Regional Airport, 9 miles away, which offers daily flights from major airlines Delta, American and Allegiant.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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