Marcus & Millichap is pleased to announce the exclusive opportunity to acquire the Comfort Inn located at 801 Mall Road located in Oak Hill, West Virginia. The property is situated on 2 separate parcels with a combined acreage of 2.78 acres. The hotel is a 3 story, interior corridor, that was built in 2002. The hotel offers superior accommodations that include a seasonal outdoor pool, board room, complimentary breakfast, and RV/bus parking.
The subject property due to its superior location and accommodations is a top market performer among its class. The subject property is operating at an occupancy of 50.1%, an ADR of $85.46, and a RevPAR $42.77 that is penetrating the market at an index of 111.9%. The property generated $1.055MM in revenues with an NOI exceeding $307,000.
The property is situated directly off a major highway route 19, which is a connecting thoroughfare to interstate 79 going north and interstate 77/64 going south, resulting in an average daily traffic count of 30,000 vehicles per day. The hotel is within close proximity to many restaurant's , all within a 1 mile radius and include Burger King, Rio Grande Mexican Restaurant, OK, Chinese Buffet, Domino's Pizza, and Bojangle's. Other leisure attractions that are within close proximity include, the New River Gorge Bridge (5 Miles), Adventures on the Gorge outdoor park (7 Miles), and the Summit Bechtel Reserve (7.5 Miles) which hosts an annual 30,000 attendee boy scout retreat over 10 days during the month of July.
The town of Fayetteville is also only 3 miles from the hotel and was listed as "Top 10 Coolest Small Towns in America" by Budget Travel Magazine and as " Best River Town 2013" by Blue Ridge Outdoors Magazine.
This property will be auctioned on Monday, March 18 - Wednesday, March 20 . The price displayed is the starting bid amount of $1,000,000. For information and to register to bid on this property, please visit Ten-X.com.