Deluxe Inn Hickory 325 US Highway 70 SW 33 Room Hotel Hickory, NC 28602 $4,000,000 ($121,212/Room) 8.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Upgrading the on-site guest laundry machines could generate additional revenue.
- Rental demand for the property is strong due to its proximity to major businesses and recreational amenities.
- A small convenience store, parking rentals, and storage rooms serve as additional revenue streams.
EXECUTIVE SUMMARY
This income-producing motel is strategically located on 325 U.S HWY 70 SW Hickory. Easy access to Interstate 40 and U.S. Highway 321 makes this 2.3-acre lot more enticing. Some of the units in this double-story motel have undergone full modern renovations, including interior room painting, updated lighting, and remodeled bathrooms. These upgrades not only make the property more attractive to renters but also add significant value to it. 1-bedroom unit would rent for $1250/month and 2-bedrooms unit would go for $1550/month. Its C-3 zoning allows for additional development and the possibilities are endless. Its prime location and zoning offer an excellent opportunity for investors and developers to create something larger and more impactful.
PROPERTY FACTS
AMENITIES
- High Speed Internet Access
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 33 | $44.00 | - |
1 of 1
PROPERTY TAXES
| Parcel Number | 3702155400420000 | Improvements Assessment | $282,000 |
| Land Assessment | $283,800 | Total Assessment | $565,800 |
