Motel 6


Price:
$3,250,000

Address :
853 N Military Hwy
Norfolk, VA 23502


  •  Long-term leasehold interest (See page 17 for a summary of the terms)
  •  Positive revenue trend in-place
  •  Hotel will retain Motel 6 brand affiliation subject to a change of ownership PIP that is under development
  •  Well-located to the region’s military, commercial and leisure demand generators
  •  Units with kitchenettes offer an extended-stay option
  •  Opportunity to increase revenues through new management
  •  Excellent opportunity for an owner/operator
    View Map    View Aerial
  •  Norfolk is part of Virginia’s Hampton Roads region, which is home to 1.7 million people and the 7th largest MSA in the Southeast.
  •  Only a short drive from IKEA Virginia’s newest location at the corner of US 64 and US Route 13
  •  Close to Regional Demand Generators:
    •  1.7 Miles to Sentara Leigh Hospital
    •  3.7 Miles to Virginia Wesleyan University
    •  3.7 Miles to Norfolk International Airport (ORF)
    •  3.9 Miles to Norfolk State University
    •  5.3 Miles to Downtown Norfolk Waterside District
  •  3 Buildings
  •  2 Stories
  •  Exterior Corridors
  •  Block and Frame Construction
  •  Vinyl Facade
  •  Flat Built-Up Roof
  •  Parking Lot
  •  Guest Laundry
  •  Seasonal Outdoor Pool
  •  Wireless Internet
  •  Built 1974
Thank you for your interest in this Mumford Company Listing. In order to review the financial and operating performance of this property, please complete the required fields below. If you are a real estate broker, please click here and you will be directed to our co-brokerage registration form.




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Financials
2016
2017
2018
T-21Mos 7/19
Occupancy
48.56%
48.72%
50.95%
52.8%
Average Daily Rate
$48.69
$47.61
$50.79
$50.99
RevPar
$23.64
$23.20
$25.88
$26.92
Room Revenue
$1,298,093
$1,270,012
$1,416,807
$1,473,988
Net Operating Income
$181,416
$40,222
$149,774
$125,272
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!