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Approved Days Inn by Wyndham Conversion 1700 N Chester St 70 Room Hotel Gastonia, NC 28052 $4,100,000 ($58,571/Room)
INVESTMENT HIGHLIGHTS
- Sale includes land and improvements; current lease is terminable at transfer, giving buyers immediate control.
- Situated in Gastonia, part of Charlotte MSA, benefiting from strong population growth, new industrial investment, and ongoing revitalization.
- Option for mixed-use retail redevelopment available, with the large parcel’s high-traffic frontage and proximity to major interchanges.
- Recently approved Wyndham Days Inn PIP allows for quick brand conversion or full repositioning below replacement cost.
- Located just off I-85 and US-321, the property offers excellent visibility, high traffic counts (50,000+ VPD), and proximity to major corridors.
EXECUTIVE SUMMARY
Connolly Investments, in accordance with ParaSell, Inc, is pleased to present to market an existing hotel and restaurant property or potential development opportunity in Gastonia, NC. Ideally positioned off I-85 the property sits just off the east bound exit of this major thoroughfare between Atlanta and Charlotte.
This offering includes the land and buildings. The business rights to the Hotel and FF&E are not included in the sale, as the property is currently leased to a third-party individual who has been operating the site as an Independent Hotel (Chester Inn) with accompanied restaurant (Pancake House). The current Lease in place is terminable upon transfer of ownership, allowing a new prospective purchaser to immediately assume full control of the property and building facilities. Any potential sale is subject to the waiver of the Tenant’s Right of First Refusal per the Lease and hotel financial information is not readily available. General market hotel metrics can be discussed.For hoteliers, the opportunistic play would be to Flag the property with a national brand, complete the likely required PIP renovations and directly compete in this strong hospitality market. The existing infrastructure provides a quicker path to operations than a ground up development. We currently have a recent PIP provided and approved by Wyndham for a Days Inn flag. PIP details are included the Due Diligence materials.
Overall, this opportunity offers significant upside for a potential purchaser as a result of the size, existing buildings and strategic location. With proximity to major MSA markets and highway access, it offers the ability to continue operating as a hotel or presents a wide range of development possibilities with high visibility, all within a growing submarket of Charlotte MSA.
The hotel GBA is 35,000 SF and features 127 parking spaces. The pancake house is single tenancy retail with 4,107 SF and 40 parking spaces.
This offering includes the land and buildings. The business rights to the Hotel and FF&E are not included in the sale, as the property is currently leased to a third-party individual who has been operating the site as an Independent Hotel (Chester Inn) with accompanied restaurant (Pancake House). The current Lease in place is terminable upon transfer of ownership, allowing a new prospective purchaser to immediately assume full control of the property and building facilities. Any potential sale is subject to the waiver of the Tenant’s Right of First Refusal per the Lease and hotel financial information is not readily available. General market hotel metrics can be discussed.For hoteliers, the opportunistic play would be to Flag the property with a national brand, complete the likely required PIP renovations and directly compete in this strong hospitality market. The existing infrastructure provides a quicker path to operations than a ground up development. We currently have a recent PIP provided and approved by Wyndham for a Days Inn flag. PIP details are included the Due Diligence materials.
Overall, this opportunity offers significant upside for a potential purchaser as a result of the size, existing buildings and strategic location. With proximity to major MSA markets and highway access, it offers the ability to continue operating as a hotel or presents a wide range of development possibilities with high visibility, all within a growing submarket of Charlotte MSA.
The hotel GBA is 35,000 SF and features 127 parking spaces. The pancake house is single tenancy retail with 4,107 SF and 40 parking spaces.
PROPERTY FACTS
| Price | $4,100,000 | Building Size | 35,000 SF |
| Price Per Room | $58,571 | No. Rooms | 70 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1966/1998 |
| Property Subtype | Hotel | Parking Ratio | 3.63/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 2.76 AC | Opportunity Zone |
Yes
|
| Zoning | C-3 - General Commercia | ||
| Price | $4,100,000 |
| Price Per Room | $58,571 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.76 AC |
| Building Size | 35,000 SF |
| No. Rooms | 70 |
| No. Stories | 2 |
| Year Built/Renovated | 1966/1998 |
| Parking Ratio | 3.63/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | C-3 - General Commercia |
AMENITIES
- Business Center
- Fitness Center
- Pool
- Restaurant
- High Speed Internet Access
- Patio
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 70 | $91.00 | - |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $541,320 | Total Assessment | $2,460,740 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$541,320
Improvements Assessment
$0
Total Assessment
$2,460,740
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Approved Days Inn by Wyndham Conversion | 1700 N Chester St
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