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Econo Lodge - Carrollton, VA    
Call for Offers Issued   Deadline: 12 Noon Thursday September 30, 2010
•   Price Reduced to $2,250,000.
•   Excellent Location 2 Miles from Downtown Smithfield.
•   Gold Award Winner.
•   Located at Crossroads of Isle of Wight County.
•   Good Visibility and Access.
•   Limited Direct Competition.
 
Location/Market
20080 Brewer’s Neck Boulevard
Carrollton, VA 23314
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Located In Historic Isle Of Wight County, Just Minutes From Smithfield, Virginia
Situated On The Western Shores Of The James River
Part Of The Hampton Roads MSA – Strategically Positioned Near The Cities Of Virginia Beach, Williamsburg, Norfolk, Portsmouth, Newport News And Hampton
Across From New Sentara St. Luke’s Medical Campus Currently Under Construction And Expected To Be Open In January 2010
Other Area Demand Is Generated From...
• Smithfield Foods Corporate Offices And Subsidiaries
• Surry Power Station
• Smithfield Conference Center
• Cypress Creek Golf Club
• Historic Downtown Smithfield
 
Physical Plant
72 Rooms Vinyl, Brick And Wood Shingle Exterior
Continental Breakfast Area Pitched Roof With Asphalt Shingles And Standing Seam Metal
Fitness Center Asphalt Parking Lot
Guest Laundry Originally Built In 1990 With 48 Guest Rooms 24 Additional Guest Rooms Were Added In 1998
2-Story
Interior Corridor
Masonry And Wood Frame Construction
 
Financials
2007
2008
2009
T-12 Mos. thru 5/10
Occupancy
63.20%
59.45%
63.15%
58.94%
Average Daily Rate
$54.03
$51.27
$45.80
$44.90
Room Revenue
$897,305
$803,174
$751,883
$695,397
Net Operating Income
$298,218
$217,289
$135,819
N/A
Monthly operating statistics are calculated on a cash basis and will not match completely with sales figures presented in the income statement.

A securitized loan with an approximate balance (as of 4/30/2010) of $1,804,147 and a maturity date 12/2016 may possibly be assumed by a prospective purchaser.
  

This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!

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