700 Monticello Ave - Hospitality FOR SALE
Norfolk, VA 23510 |
700 Monticello Ave
Norfolk, VA 23510
HIGHLIGHTS
- Fee Simple Interest in the 204-Unit, 12-Story, Full-Service Wyndham Garden in Downtown Norfolk, VA
- 12-Story, 1951-Built, Concrete Hotel Renovated in 2016 with Banquet Space, Restaurant, and Underground Parking
- Certified Historic Structure Qualifies for State/Federal Rehabilitation Tax Credit Incentives
- Assumable $9,000,000 Non-Recourse CMBS Debt In-Place with 4.2% Interest-Only Payments for the Life of the Loan (2029 Maturity)
- D-AD: Downtown Arts and Design District Zoning May Permit a Variety of Alternative Uses Including Multifamily Residential
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Wyndham Garden Norfolk Downtown
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
211988
STORIES
12
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
1951
PARKING SPACES
322
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
D-AD
APN/PARCEL ID
38295001
