119 Room Hotel For Sale on Market Street

Hospitality for Sale
Catylist Listing ID: 30774880
Property Subtypes: Hotel, Inn, Motel
Number of Units: 122 Units
Building Size (RSF): 43,560 SF
Gross Building Area: See Agent
Gross Land Area: 3 Acres
Sale Price: $7,000,000
Unit Price: $57,377.05 Per Unit
Property Use Type: Vacant/Owner-User
Name of Establishment: Days Inn
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

Currently the Days Inn on Market Street. This property used to have 122 Guest Rooms, during renovations the room count was lowered to 119 Rooms and now features all new flooring, sprinkler system and life safety systems, renovated bathrooms new Flat Screens, three (3) Meeting rooms, Fitness Center, Managers Suite, Ice and Vending Machines and Extra storage. In addition to these renovations there is a new roof, all new fixtures and furniture.

The property has 129 parking spaces and 4 handicap spaces for a ratio of 1.12 for the 119 guest rooms.

There is a pool, a building in the front for guest registration, back office space and a 4,000 sf restaurant space at the front entry, dog walk and picnic area as well are located in the rear.

Pricing is at $59,000.00 per key.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: Wilmington
Tax ID/APN: R04915-002-005-000
Zoning: RB
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: College and Kerr
Property Visibility: Excellent
Largest Nearby Street: Market
Feet of Frontage: 171
Traffic/Vehicle Count: 51,230
Highway Access: Hwy 17 & I-40
Airports: ILM
Site Description: Two Story Hotel, with front office/restaurant building. Surface parking.
Area Description: Market Street Between Kerr and New Centre. Highway 17 provides access N/S and is interstate coastal highway.
Nearby Attractions: University Centre (Major Shopping), University of North Carolina Wilmington, Battleship North Carolina, Downtown Wilmington, Area Beaches
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1974
Year Renovated: 2018
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Water Recreation: Outdoor Pool
Total Parking Spaces: 129
Parking Type: Surface
Parking Description: Open common surface parking
Sprinklers: Wet
Laundry: Shared
Heat Type: Electricity
Heat Source: Wall Units
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: See Pictures.
Zoning Description: This district is intended to accommodate the range of retail and service uses serving the broad needs of the community and surrounding region. Larger-scaled retailers, auto-related businesses, and similar uses, not generally appropriate for or out of character with the CB district, are permitted. While the RB district should be located primarily along arterial roadways, care should be taken to ensure compatibility with adjacent uses, allow for pedestrian movement, and minimize conflicts with traffic along abutting streets. Generally, these areas are already developed and are likely to undergo change only through business turnover, infill, or redevelopment.
Lot Frontage: 171
Lot Depth: 522
Water Service: Municipal
Sewer Type: Municipal
Legal Description: MARKET ST;S PT GORE

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,243 75,324 132,747
Median Age: 27.01 34.12 36.65
Households: 7,532 32,307 56,887
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