Red Carpet Inn - 76 Rooms Hotel for Sale

Hospitality for Sale
Catylist Listing ID: 30756231
Property Subtypes: Extended Stay, Hotel, Inn, Motel
Number of Units: 76 Units
Building Size (RSF): 26,280 SF
Gross Building Area: See Agent
Gross Land Area: 1.26 Acres
Sale Price: $5,700,000
Unit Price: $75,000 Per Unit
Property Use Type: Investment
Building Name: Red Roof Inn
Name of Establishment: Red Roof Inn
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/13/2021

Overview / Comments

The Red Carpet in is located on highway 17 / Market Street in Wilmington NC. This 76 room/key hotel has recently been renovated to have kitchenettes in all but 12 of the units.

The Property has a new roof and parking lot has been striped and sealed in last 12 months.

Property has on site guest and housekeeping laundry's. Brand new managers suite connected to lobby.

Room Sizes Are as follows:
12 - Large: 12*28 - Fits three queens
44 - Medium: 12*23 - Fits two queens
16 - Small: 11.5*18 - Fits one queen
4 - ADA Rooms - 2 with tubs 2 with walk in showers.
76 Total.

All new furniture and appliances, new LVP floors and some tile floors, new key system for rooms. New Led Parking lights, New room lighting.

**12 Rooms do not have a kitchenette**

Schedule a showing / tour with brokers.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington / New Hanover County
Tax ID/APN: R04914-005-012-000
Zoning: RB
Retail Clientele: General, Business, Traveler, Tourist, Recreation
Property Located Between: Cinema Drive and Wetsig Rd
Property Visibility: Excellent
Largest Nearby Street: Market Street / US Highway 17
Feet of Frontage: 150
Traffic/Vehicle Count: 62,000
Highway Access: Direct
Airports: ILM
Site Description: One Rectangle Building with parking around
Area Description: Mid Town Wilmington - Market Street
Nearby Attractions: UNCW, Downtown, Area Beaches, Battleship NC
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1976
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Block
Total Parking Spaces: 76
Parking Type: Surface
Parking Description: Open parking field
Sprinklers: Dry
Zoning Description: RB
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,119 77,289 130,122
Median Age: 27.15 34.28 36.28
Households: 6,234 33,137 55,666
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