Price: $7,350,000
Address: 853 North Military Highway
City: Norfolk
State: VA
ZIP: 23502
Rooms #: 150
Address: 853 North Military Highway
City: Norfolk
State: VA
ZIP: 23502
Rooms #: 150
Additional Features:
DEAL FEATURES
- Good location in commercial corridor.
- SBA financing candidate
- Ideal size and operating model for owner/operator
- Excellent location for long-term investment as area continues to re-develop
- Offered at discount to replacement cost
- Limited renovations costs expected from Motel 6
- Subject to a land lease with favorable terms; see details in offering memorandum
BUILDING OVERVIEW
- 2 Stories, Exterior Corridor
- Concrete Construction
- Stucco & Vinyl Siding Façade
- Flat, Built-Up Roof
- Asphalt Parking Lot
PROPERTY HIGHLIGHTS
- 150 Keyed Units
- 147 Rentable Guest Rooms & 3 Units used for employee housing
- Built in 1974
- Wireless Internet
- Guest Laundry
- Seasonal Outdoor Pool
- Truck/RV Parking
Financials
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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!
