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Budget Inn 420 N Monroe Ave 25 Room Hotel Covington, VA 24426 $985,000 ($39,400/Room)
Investment Highlights
- Variety of clientele serving sectors from Tourism, Industrial, Railway, Healthcare and Vacationers.
- Solid Block Frame and Brick construction.
- Lots of Natural lights in Open and Mountain Environment. Sitting main river bank as well as on a major state highway in an urban location.
Executive Summary
420 N Monroe Ave presents a prime investment opportunity for an owner-operator seeking a small hotel with strong upside potential. The property offers flexibility to diversify beyond a traditional motel model, including conversion to extended-stay lodging, small apartment units, or other alternative uses. Its natural light, open setting, and mountain surroundings enhance guest appeal while supporting multiple repositioning strategies.
Property Facts
| Price | $985,000 | Building Size | 6,683 SF |
| Price Per Room | $39,400 | No. Rooms | 25 |
| Sale Type | Investment | No. Stories | 2 |
| Sale Condition | Business Value Included | Year Built | 1967 |
| Property Type | Hospitality | Parking Ratio | 0.44/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.22 AC | ||
| Zoning | C3 | ||
| Price | $985,000 |
| Price Per Room | $39,400 |
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 6,683 SF |
| No. Rooms | 25 |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 0.44/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | C3 |
Amenities
- High Speed Internet Access
- Public Access Wifi
About 420 N MONROE AVE , COVINGTON, VA 24426
Situated along the main riverbank and fronting a major state highway, this solid block-frame and brick property benefits from excellent visibility and accessibility within an urban setting. The location supports a diverse and dependable customer base, including tourism, industrial users, railway traffic, healthcare visitors, and vacationers. The combination of durable construction, scenic surroundings, and flexible use potential positions the property as a compelling long-term investment.
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 25 | $42.00 | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 010-02-0000-00137 | Improvements Assessment | $166,900 |
| Land Assessment | $27,100 | Total Assessment | $194,000 |
Property Taxes
Parcel Number
010-02-0000-00137
Land Assessment
$27,100
Improvements Assessment
$166,900
Total Assessment
$194,000
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Presented by
Angel Management Llc
Budget Inn | 420 N Monroe Ave
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