The Super 8 Hotel is a 49-room, interior corridor, economy hotel located in Petersburg VA. The property is
directly off I-95 and minutes from Fort Lee. This hotel is also a short drive from Virginia State University. This two story hotel was built in 1989 and is kept in great condition by the same owner for the last 19 years. Common area amenities include a breakfast area, guest laundry facilities, and on-site parking. Rooms are equipped with coffee/tea makers, microwaves, refrigerators, iron/iron boards, work desks, flat panel televisions and free Wifi internet access.
The listing is offered significantly below replacement cost at $1,250,000 or $25,510 per key. The hotel's RevPAR index penetration as of December 2016 is 49 percent which gives a new owner substantial room to increase the hotel's top line performance. In addition to improving the hotel's RevPAR, a new owner should be able to immediately achieve greater economies of scale with significant increase in Revenue through increase in Occupancy.
The City of Petersburg near Fort Lee is a true military town. There is the modern, U.S. Army's Combined Arms Support Command located at Fort Lee and The Petersburg National Battleground, where you can explore the 10-month siege that General Ulysses S. Grant waged against the city. In addition, the city offers visitors The Pamplin Historical Park, home of the highly acclaimed National Museum of the Civil War Soldier. Petersburg itself boasts a historic district.
