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Red Roof Inn + Adtl PIN with I-26 visibility 240 Mitchelle Dr 49 Room Hotel Hendersonville, NC 28792 $6,200,000 ($126,531/Room)
Investment Highlights
- Strategic Location: Situated in a designated Opportunity Zone with direct access to two major highways, offering unmatched development potential
- Infrastructure Ready: Property is shovel-ready with sewer, 3-phase power, gas line, and water line already in place to support various commercial uses
- Rapid Growth Area
- Ample Acreage: Includes 4 parcels totaling 8.16 acres
- Zoning Flexibility: C-3 zoning allows for diverse commercial ventures, from retail centers to mixed-use developments.
- Tourism Hub: Just 5 minutes from historic downtown Hendersonville, a destination attracting 2 million tourists annually, surrounded by retailers
Executive Summary
Prime commercial investment opportunity poised for development in ideally situated Opportunity Zone with optimal access to 2 major highways. Two parcels totaling 3.87 acres one of which is the 48-room Red Roof Inn, available as part of the purchase or for residential conversion combined with a larger housing development on additional acreage. Situated in fast-growing Henderson County, NC between Asheville, NC and Greenville/Spartanburg, SC, this property is surrounded by large national retailers and is shovel ready to take advantage of current and projected growth, including sewer, 3-phase power line, gas line, and water line already in place.C-3 zoning allows for a variety of commercial opportunities. Just 5 minutes from historic downtown Hendersonville, this community attracts approximately 2 million tourists per year and has grown its population by nearly 12% over the last 5 years.
Property Facts
| Price | $6,200,000 | Building Size | 22,392 SF |
| Price Per Room | $126,531 | No. Rooms | 49 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 2002 |
| Property Subtype | Hotel | Parking Ratio | 2.19/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 3.87 AC | Opportunity Zone |
Yes
|
| Zoning | C-3HB - C3 Highway Business | ||
| Price | $6,200,000 |
| Price Per Room | $126,531 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.87 AC |
| Building Size | 22,392 SF |
| No. Rooms | 49 |
| No. Stories | 2 |
| Year Built | 2002 |
| Parking Ratio | 2.19/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | C-3HB - C3 Highway Business |
Amenities
- High Speed Internet Access
- Convention Hotel
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 49 | $96.00 | - |
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Red Roof Inn + Adtl PIN with I-26 visibility | 240 Mitchelle Dr
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