Capital Studios | 2910 Capital Blvd
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Capital Studios 2910 Capital Blvd
91 Room Hotel Raleigh, NC 27604 For Sale
Investment Highlights
- Rare Conversion Opportunity with Multifamily Zoning in Place
- Superior Submarket Fundamentals
- Ideally Located Within a Qualified Opportunity Zone (QOZ)
Executive Summary
Capstone is pleased to present Capital Studios, a 155-unit hotel conversion opportunity located in Raleigh, NC. Currently operating as a Clarion Pointe hotel, Capital Studios presents an exceptionally rare opportunity to transform into a thriving rental apartment community with approved zoning in-place. The lower construction and redevelopment costs allow investors to redesign the property without incurring the expenses that exist with ground-up construction. Ideally located within a Qualified Opportunity Zone (QOZ) of Raleigh, investors are presented with additional incentives towards reinvesting capital gains and tax strategies. Furthermore, the property is situated within an exceptional submarket, with historical annual population growth rates exceeding 1.0%+ within 1-, 3-, and 5-mile radius areas, with a projected annual growth rate of 1.4%+ in the forthcoming years. Capital Studios offers investors a favorable opportunity to redevelop into market-rate apartment units. The project benefits from approved zoning and is supported by robust market fundamentals.
Property Facts Under Contract
| Sale Type | Investment | No. Rooms | 91 |
| Property Type | Hospitality | No. Stories | 4 |
| Property Subtype | Hotel | Year Built/Renovated | 1984/2020 |
| Building Class | B | Parking Ratio | 1.4/1,000 SF |
| Lot Size | 2.72 AC | Corridor | Interior |
| Building Size | 45,674 SF | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.72 AC |
| Building Size | 45,674 SF |
| No. Rooms | 91 |
| No. Stories | 4 |
| Year Built/Renovated | 1984/2020 |
| Parking Ratio | 1.4/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
Amenities
- Business Center
- Fitness Center
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 91 | $112.11 CAD | - |
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PROPERTY TAXES
| Parcel Number | 1725.13-02-2915-000 | Improvements Assessment | $2,352,197 CAD |
| Land Assessment | $2,615,162 CAD | Total Assessment | $4,967,359 CAD |
PROPERTY TAXES
Parcel Number
1725.13-02-2915-000
Land Assessment
$2,615,162 CAD
Improvements Assessment
$2,352,197 CAD
Total Assessment
$4,967,359 CAD
zoning
| Zoning Code | CX-4 |
| CX-4 |
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Capital Studios | 2910 Capital Blvd
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