85 University Blvd | Harrisonburg, VA 22801
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- LoopNet Team
85 University Blvd
Harrisonburg, VA 22801
Hampton Inn Harrisonburg - University · Hospitality Property For Sale
·
70,352 SF
INVESTMENT HIGHLIGHTS
- Strong brand affiliation with flexibility upon change-of-ownership PIP within one of the world’s largest and fastest-growing hospitality companies.
- Offered unencumbered of management, new ownership can capitalize on operational upside to align the hotel’s bottom line with industry-leading assets.
- At $109.75 in September 2023, 12-month ADR was up 5.6% YOY and 12-month average RevPAR advanced 7.1% to $63.09 in September 2023.
- By implementing strategic improvements and operational enhancements, a new owner will be able to drive the hotel’s NOI well past pre-pandemic levels.
- Immediately adjacent to James Madison University (JMU), a public university hosting 139 degree programs, 1,463 faculty, and 22,224 students.
- Following a change of ownership PIP or brand conversion, a buyer has the opportunity to reposition and push the rate past the historical average.
PROPERTY FACTS
| Sale Condition | Auction Sale | Building Size | 70,352 SF |
| Type of Ownership | Fee Simple | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1989/2018 |
| Property Subtype | Hotel | Parking Ratio | 2.52/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 3.70 AC | Parcel Number | 078-B-2 |
| Zoning | B-2 | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.70 AC |
| Building Size | 70,352 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1989/2018 |
| Parking Ratio | 2.52/1,000 SF |
| Corridor | Interior |
| Zoning | B-2 |
| Parcel Number | 078-B-2 |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Digital key
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