325 US Highway 70 SW - Hospitality FOR SALE


Hickory, NC 28602- Outer City Of Hickory
$4,000,000 USD
704-960-6713
325 US Highway 70 SW, Hickory, NC for Sale
$4,000,000 USD
Hospitality - FOR SALE
1/14
null | 8.5% Cap Rate

325 US Highway 70 SW
Hickory, NC 28602
Outer City Of Hickory


HIGHLIGHTS

  • Upgrading the on-site guest laundry machines could generate additional revenue.
  • A small convenience store, parking rentals, and storage rooms serve as additional revenue streams.
  • Rental demand for the property is strong due to its proximity to major businesses and recreational amenities.

OVERVIEW

This income-producing motel is strategically located on 325 U.S HWY 70 SW Hickory. Easy access to Interstate 40 and U.S. Highway 321 makes this 2.3-acre lot more enticing. Some of the units in this double-story motel have undergone full modern renovations, including interior room painting, updated lighting, and remodeled bathrooms. These upgrades not only make the property more attractive to renters but also add significant value to it. 1-bedroom unit would rent for $1250/month and 2-bedrooms unit would go for $1550/month. Its C-3 zoning allows for additional development and the possibilities are endless. Its prime location and zoning offer an excellent opportunity for investors and developers to create something larger and more impactful.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$194 USD /SF

# OF ROOMS

33

PRICE/ROOM

$121,212 {currency}

CAP RATE

8.5%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Deluxe Inn Hickory

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1963

PARKING SPACES

56

LAND DETAILS

LAND ACRES

2.31 AC

LAND SF

100,582 SF

ZONING

C-3

APN/PARCEL ID

3702155400420000

ASK ABOUT THIS PROPERTY

Cameron FrankYancey RealtyMore Info
704-960-6713

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Cameron FrankYancey RealtyMore Info
704-960-6713

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.