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High-Performing | Modernized | Tourism-Based 674 Casino Trl 62 Hotel Rooms Online Auction Sale Cherokee, NC 28719
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Investment Highlights
- Offering the ground lease of Microtel Inn & Suites, 674 Casino Trail, Cherokee, NC, a 62-room, three-story hotel built in 2003 and renovated in 2014.
- Offers premier guest amenities, such as bus parking, complimentary breakfast, a swimming pool, and a shuttle to local destinations.
- Situated on 4.84 acres at a strategically connected location off US Highway 441, providing access to as far as Asheville in approximately an hour.
- Rising performance since the industrywide pandemic slump, as occupancy from December 2024 to November 2025 rose 5.3% compared to the prior year.
- Conveniently positioned within a mile of Angry Elk Brewing, Food Lion, Rancho Viejo Mexican Restaurant, McDonald's, and Frontier Pancake House.
- Within 10 minutes of Cherokee’s biggest attractions, including Harrah’s Cherokee Casino, Sequoyah National Golf Club, Fire Mountain Trails, and more.
Executive Summary
Marcus & Millichap is pleased to offer the opportunity to acquire the ground lease for Microtel Inn & Suites located at 674 Casino Trail in Cherokee, North Carolina.
The hotel was built in 2003 and renovated in 2014. The subject property is a three-story, 62-room interior corridor hotel. Common area amenities include an outdoor swimming pool, complimentary breakfast, and free on-site parking for both personal vehicles and buses. The pool was replaced in 2025 and washer / dryer in 2026. The hotel offers a shuttle to local attractions, making getting around easy for guests. Each unit offers free Wi-Fi, in-room coffee and tea maker, flat screen TV, safe deposit box, desk with chair, microwave, and mini-fridge. Suites offer extra living space for a more spacious feel.
Cherokee is home to the Harrah's Cherokee Casino, which is the largest Casino in the state of North Carolina and is 1 mile from the Microtel Inn & Suites. Additional recreational attractions include the Sequoyah National Golf Club, Fire Mountain Trails, Oconaluftee Indian Village, and the Museum of the Cherokee Indian. Conveniently, there are several commercial amenities within walking distance of the hotel, including Taco Bell, Domino's, Pizza Hut, Arby's, McDonald's, Rancho Viejo Mexican Restaurant, Waffle House, and Food Lion, ideal neighbors to attract tourists. In addition to its proximity to amenities and destinations, this Microtel Inn & Suites’ exposure to tourists is amplified by its visibility from US Highway 441.
The Cherokee Indian Reservation blends natural beauty, rich Indian culture, and exciting family attractions into an ideal vacation destination. With 9 million visitors a year, the nation's most popular national park is also one of the largest, offering more than 800 square miles of protected forest, almost equally divided between Tennessee and North Carolina. Encompassing the communities of Murphy, Andrews, and Brasstown, scenic Cherokee County offers a wealth of outdoor recreational activities, small town charm, and historic sites reflecting the area’s history and cultural heritage. Beyond the Cherokee Indian Reservation, 674 Casino Trail is a viable address for tourists visiting Lake Junaluska and Asheville, one of the nation’s most exciting vacation destinations.
Property tours are available by appointment only. Please contact the listing broker to schedule.
The hotel was built in 2003 and renovated in 2014. The subject property is a three-story, 62-room interior corridor hotel. Common area amenities include an outdoor swimming pool, complimentary breakfast, and free on-site parking for both personal vehicles and buses. The pool was replaced in 2025 and washer / dryer in 2026. The hotel offers a shuttle to local attractions, making getting around easy for guests. Each unit offers free Wi-Fi, in-room coffee and tea maker, flat screen TV, safe deposit box, desk with chair, microwave, and mini-fridge. Suites offer extra living space for a more spacious feel.
Cherokee is home to the Harrah's Cherokee Casino, which is the largest Casino in the state of North Carolina and is 1 mile from the Microtel Inn & Suites. Additional recreational attractions include the Sequoyah National Golf Club, Fire Mountain Trails, Oconaluftee Indian Village, and the Museum of the Cherokee Indian. Conveniently, there are several commercial amenities within walking distance of the hotel, including Taco Bell, Domino's, Pizza Hut, Arby's, McDonald's, Rancho Viejo Mexican Restaurant, Waffle House, and Food Lion, ideal neighbors to attract tourists. In addition to its proximity to amenities and destinations, this Microtel Inn & Suites’ exposure to tourists is amplified by its visibility from US Highway 441.
The Cherokee Indian Reservation blends natural beauty, rich Indian culture, and exciting family attractions into an ideal vacation destination. With 9 million visitors a year, the nation's most popular national park is also one of the largest, offering more than 800 square miles of protected forest, almost equally divided between Tennessee and North Carolina. Encompassing the communities of Murphy, Andrews, and Brasstown, scenic Cherokee County offers a wealth of outdoor recreational activities, small town charm, and historic sites reflecting the area’s history and cultural heritage. Beyond the Cherokee Indian Reservation, 674 Casino Trail is a viable address for tourists visiting Lake Junaluska and Asheville, one of the nation’s most exciting vacation destinations.
Property tours are available by appointment only. Please contact the listing broker to schedule.
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Miscellaneous
- Leases
- STR Reports
- PIP
Property Facts
| Sale Type | Investment | Building Size | 28,881 SF |
| Sale Condition | Auction Sale | No. Rooms | 62 |
| Type of Ownership | Leasehold | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 2003/2014 |
| Property Subtype | Hotel | Parking Ratio | 1.18/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 4.84 AC | ||
| Zoning | HC | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Leasehold |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 4.84 AC |
| Building Size | 28,881 SF |
| No. Rooms | 62 |
| No. Stories | 3 |
| Year Built/Renovated | 2003/2014 |
| Parking Ratio | 1.18/1,000 SF |
| Corridor | Interior |
| Zoning | HC |
Amenities
- Business Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 12 | $114.00 | - |
| Guest Room | 50 | $96.00 | - |
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
About Western North Carolina
The area around North Carolina’s Blue Ridge Mountains includes towns such as Asheville, Little Switzerland, Hendersonville, Maggie Valley, Cherokee, and Waynesville. This region is easily accessible via the scenic Blue Ridge Parkway, which brings over a million visitors to the area each year, as well as interstates 26 and 40.
Outdoor enthusiasts are drawn to this area for activities such as hiking, fly fishing, canoeing, zip lining, and skiing. Aside from the Blue Ridge Mountains, nearby recreation areas include the Great Smoky Mountains National Park, Pisgah National Forest, Mount Mitchell, Lake James State Park, Chimney Rock State Park, and Nantahala National Forest.
The region is also home to numerous family-friendly attractions. At the Emerald Village complex in Little Switzerland, visitors can pan for gold and find real gems in the mine. Kids love the tractor rides and fruit picking at Sky Top Orchard in Flat Rock, as well as the nearby Hands On! Children’s Museum and Mineral & Lapidary Museum. Another popular regional attraction is the Wheels Through Time Motorcycle Museum in Maggie Valley, with more than 300 rare vintage motorcycles.
Sale Advisor
Sale Advisor
Chase Dewese, First Vice President Investments
Chase Dewese joined Marcus & Millichap in 2016 and is currently a Senior Associate with Marcus & Millichap’s National Hospitality Group.
Mr. Dewese has been involved in over 30 hospitality closings compromising a transaction volume of over $90 million. Located in Charlotte, NC, Mr Dewese’s expertise allows him to be most effective geographically in the Mid-Atlantic and Southeast. Mr. Dewese has extensive underwriting experience and has performed hundreds of valuations for various ownership groups including REITs.
He also works with MMCC, Marcus & Millichap’s subsidiary capital corporation, helping clients acquire competitive lending terms. A graduate and division I soccer player from West Virginia University with a B.S. in Finance. He also has a J.D. from Charlotte School of Law.
Mr. Dewese has been involved in over 30 hospitality closings compromising a transaction volume of over $90 million. Located in Charlotte, NC, Mr Dewese’s expertise allows him to be most effective geographically in the Mid-Atlantic and Southeast. Mr. Dewese has extensive underwriting experience and has performed hundreds of valuations for various ownership groups including REITs.
He also works with MMCC, Marcus & Millichap’s subsidiary capital corporation, helping clients acquire competitive lending terms. A graduate and division I soccer player from West Virginia University with a B.S. in Finance. He also has a J.D. from Charlotte School of Law.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Kevin Loudy
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
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Videos
Matterport 3D Exterior
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Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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High-Performing | Modernized | Tourism-Based | 674 Casino Trl
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