700 Monticello Ave | Norfolk, VA 23510
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- LoopNet Team
700 Monticello Ave
Norfolk, VA 23510
Wyndham Garden Norfolk Downtown · Hospitality Property For Sale
·
211,988 SF
INVESTMENT HIGHLIGHTS
- Fee Simple Interest in the 204-Unit, 12-Story, Full-Service Wyndham Garden in Downtown Norfolk, VA
- D-AD: Downtown Arts and Design District Zoning Which May Permit a Variety of Alternative Uses Including Multifamily Residential
- 75% RevPAR Penetration Index in 2024
- 12-Story, 1951-Built, Concrete Hotel with Banquet Space, Restaurant, and Underground Parking
- Renovated in 2024 | Significant Upside to Prospective Purchaser by Leveraging Recent Renovations
- Expected to Trade at a Significant Discount to Replacement Cost
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 12 |
| Property Subtype | Hotel | Year Built/Renovated | 1951/2024 |
| Building Class | B | Parking Ratio | 1.52/1,000 SF |
| Lot Size | 5.54 AC | Corridor | Interior |
| Building Size | 211,988 SF | ||
| Zoning | D-AD - Downtown Arts & Design District | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 5.54 AC |
| Building Size | 211,988 SF |
| No. Stories | 12 |
| Year Built/Renovated | 1951/2024 |
| Parking Ratio | 1.52/1,000 SF |
| Corridor | Interior |
| Zoning | D-AD - Downtown Arts & Design District |
AMENITIES
- Business Center
- Fitness Center
- Pool
- Restaurant
- Room Service
- Shuttle Service
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Wedding Venue
- Public Access Wifi
- Smoke-Free
PROPERTY TAXES
| Parcel Number | 38295001 | Improvements Assessment | $3,852,400 |
| Land Assessment | $4,293,100 | Total Assessment | $8,145,500 |
PROPERTY TAXES
Parcel Number
38295001
Land Assessment
$4,293,100
Improvements Assessment
$3,852,400
Total Assessment
$8,145,500
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