298 Town Centre Dr
Abingdon, VA 24210
Super 8 by Wyndham Abingdon VA · Hospitality Property For Sale · 19,609 SF

Super 8 by Wyndham Abingdon, situated on a 1.23 acre lot, is a 51 room, 3-story, interior-corridor hotel built in 1990. Subject hotel is in excellent condition, having spent in excess of $100,000 over the past thirty-two months touching virtually every area of the hotel (renovation details on next slide). Little to no change-of-ownership PIP is anticipated. Property has enjoyed consistent historical revenues, ranging between $600,000 and $700,000. With renovation now fully complete however, opportunity exists for a new owner to further reposition the asset and drive revenues through increased adr (increase premium vs. competitive set). Additionally, a significant new demand driver is entering the immediate market, with the Q3/Q4 2021 scheduled opening of Abingdon’s new 40-acre Sports Complex at The Meadows, just 4/10th miles from subject property. With four baseball fields and two multipurpose fields, the Super 8 Abingdon should realize occupancy gains from hosting of sports teams playing at the complex. The Super 8 Abingdon is also located just fifteen to twenty minutes from Bristol, VA, where a new Hard Rock Hotel & Casino is scheduled to open in 2023, with temporary gaming coming as soon as 2022. Casino and dining/shopping that will be added are estimated to bring in an additional four million annual visitors to the area. The hotel is located in Southwestern Virginia and ideally located within one-quarter mile of Interstate-81, exit 17, and with excellent interstate visibility. The Super 8 is the perfect location for leisure travelers looking to experience the dynamic outdoor, cultural, culinary and shopping scenes of this charming small southern town, as well as those doing business in the area or simply traveling the heavily trafficked I-81 corridor on their way through the state.