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2836 N Lee Hwy
Lexington, VA 24450
Howard Johnson by Wyndham Lexington · Hospitality Property For Sale
·
100 Rooms
Investment Highlights
- Fee Simple Interest in the Five-Story, Interior Corridor, Select-Service Hotel
- Full Guestroom Furniture Refresh Underway (All 100 Rooms Purchased), Significant Near-Term Value-Add for Remaining Guestroom Installs
- Interior Corridor Structure Supports a Potential Future UpFlagging Conversion Opportunity at Exit Window
- Expansive 10.72-Acre Site with Visibility on Interstate-81 (47,640 VPD)
- Recent Facility Enhancements Include 2026 Pool Repainting & 2022 Elevator Installations
- Vacant Restaurant Space On-Site with Potential to Lease-Up to Increase NOI
Executive Summary
Colliers, as exclusive representative of the seller, is pleased to present to qualified investors the Howard Johnson Lexington, located at 2836 N Lee Highway, Lexington, VA 24450. The subject property is a 100-room, five-story, exterior-corridor, limited service hotel constructed in 1975 and situated on approximately 10.72 acres with direct visibility and access to Interstate-81 (approximately 47,000 vehicles per day). The asset is offered fee simple, unencumbered by debt, and free of third-party management.
Property Facts
| Sale Type | Investment | No. Rooms | 100 |
| Property Type | Hospitality | No. Stories | 5 |
| Property Subtype | Hotel | Year Built/Renovated | 1974/2007 |
| Building Class | C | Parking Ratio | 3.28/1,000 SF |
| Lot Size | 10.72 AC | Corridor | Interior |
| Building Size | 47,220 SF | ||
| Zoning | B1 | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 10.72 AC |
| Building Size | 47,220 SF |
| No. Rooms | 100 |
| No. Stories | 5 |
| Year Built/Renovated | 1974/2007 |
| Parking Ratio | 3.28/1,000 SF |
| Corridor | Interior |
| Zoning | B1 |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 100 | $96.00 | - |
Property Taxes
| Parcel Number | 50B-1-A3 | Improvements Assessment | $3,153,000 |
| Land Assessment | $377,200 | Total Assessment | $3,530,200 |
Property Taxes
Parcel Number
50B-1-A3
Land Assessment
$377,200
Improvements Assessment
$3,153,000
Total Assessment
$3,530,200
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