488 S Blackstock Rd - Hospitality FOR SALE


Spartanburg, SC 29301
$4,200,000 USD
334-313-6014
488 S Blackstock Rd, Spartanburg, SC for Sale
$4,200,000 USD
Hospitality - FOR SALE
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488 S Blackstock Rd
Spartanburg, SC 29301


HIGHLIGHTS

  • Offering includes a well-established 60-key Super 8 hotel in Spartanburg, SC, with fee-simple real estate and no debt or management contracts.
  • The property benefits from a strong brand presence in addition to an advantageous location within a high-growth market and a tax-friendly state
  • The Super 8 in Spartanburg is a stabilized asset, ensuring consistent revenue and steady cash flow for investors.
  • Positioned well within its competitive set, this property ranked 2nd out of 7 for RevPAR in 2023, according to STR data.
  • High visibility and accessibility, benefiting from significant daily traffic counts on I-65, S Blackstock Rd, and Redville Rd, totaling 165,408 VPD.
  • Favorable access to high-traffic retail and food options further enhances the hotel's appeal to both transient and leisure guests.

OVERVIEW

Connolly Investments, as the exclusive representative of the seller, is pleased to present to qualified purchasers the Super 8, located at 488 S Blackstock Rd, Spartanburg, SC. This three-story, interior corridor, limited-service hotel is strategically positioned in the vibrant town of Spartanburg, SC, and is stabilized with opportunities for re-flagging or expense optimization. The property is offered with fee-simple interest, unencumbered by management contracts and debt. The Super 8 is strategically positioned in a high-traffic area within Spartanburg, benefiting from an ideal location near major thoroughfares and local attractions. The hotel occupies a prime site with convenient and direct access to key highways, including I-85 and I-26, ensuring a steady stream of business and leisure travelers. Acquired by ownership in 2021, the hotel has undergone renovations and is fully operational. The current franchise agreement extends for another 10 years and is transferable upon change of ownership. In 2023, this Super 8 ranked favorably among its competitive set, securing the 2nd position out of 7 properties, demonstrating its strong market presence, brand recognition and operational efficiency. The property’s interior corridor design enhances security and guest experience while contributing to minimal maintenance expenses. This design, combined with the recent renovations, ensures that ongoing operational costs remain low, providing a stable and profitable investment. Additionally, there are minimal expected PIP (Property Improvement Plan) requirements, further reducing potential expenses for a new owner. Spartanburg is a thriving city known for its vibrant economy, cultural attractions, and business-friendly environment. The city's growth and development, including a 5.7% increase in population since 2010 and ongoing commercial expansion, contribute to the hotel’s ongoing success and appeal to both business and leisure travelers. *Please do not disturb the employees and customers. All site visits and tours must be pre-scheduled* In Association with Scott Reid & ParaSell, Inc. A Licensed South Carolina Broker #23763

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$141 USD /SF

# OF ROOMS

60

PRICE/ROOM

$70,000 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Super 8 by Wyndham Spartanburg/I-26 Exit 22

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1998

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.96 AC

LAND SF

85,378 SF

ZONING

C-1

APN/PARCEL ID

6-20-16-053.00

ASK ABOUT THIS PROPERTY

Katherine DockeryConnolly InvestmentsMore Info
334-313-6014

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Katherine DockeryConnolly InvestmentsMore Info
334-313-6014

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