Travelodge


Price:
$1,080,000

Address :
2968 Shore Dr
Virginia Beach, VA 23451


  •  Leasehold Interest
  •  Perfect limited-service hotel for a “hands-on” owner/operator
  •  Well-located on Shore Drive just minutes from the Chesapeake Bay beach and less than 15 minutes from the Virginia Beach oceanfront
  •  Solid upside potential with a cosmetic renovation to meet brand standards
  •  Special Circumstances: The property is currently leased to a third-party operator whose lease terminates on December 31, 2019. The third-party operator has not, to date, provided any historical operating information or STR reports to ownership and, thus, there is no performance history available for review. Prospective purchasers will need to make their own assessment as to the property’s revenue and expense potential and formulate their offers accordingly. Closing cannot take place prior to January 1, 2020, but seller desires a closing on or shortly after that date.
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  •  Virginia Beach, the largest city in Virginia, is part of Hampton Roads. Home to over 1.76 million people, the Hampton Roads MSA is the 37th largest MSA in the United States and the second largest between Washington, DC and Atlanta, Georgia.
  •  Well-located to multiple transient services such as restaurants, bars, live entertainment, and shopping.
  •  Close to Regional Demand Generators:
    •  1.2 Miles to First Landing State Park and Cape Henry Lighthouse
    •  4.7 Miles to Joint Expeditionary Base Little Creek-Fort Story
    •  8.6 Miles to Virginia Beach Convention Center and Future Sports Center
    •  8.8 Miles to Virginia Beach “Dome Site”, Site of the future Wave Garden Surf Park and Atlantic Park mixeduse development
    •  9.2 Miles to Norfolk International Airport
    •  11.3 Miles to Ocean Breeze Waterpark
    •  11.5 Miles to Virginia Aquarium & Marine Science Center
  •  2 Stories
  •  Exterior Corridors
  •  Frame Construction
  •  Flat, Built-Up Roof
  •  Asphalt Parking Lot
  •  Complimentary Breakfast
  •  Seasonal Outdoor Pool
  •  Oversized Vehicle Parking
  •  Wireless Internet
  •  Built 1990
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
Occupancy
Average Daily Rate
Room Revenue
Net Operating Income
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!