Ahoskie Inn | Easily Accessible | By Downtown 343 W NC-561
98 Hotel Rooms Online Auction Sale Ahoskie, NC 27910
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INVESTMENT HIGHLIGHTS
- Accessible 98-room interior-corridor hotel favorably located with prime visibility on a 7.15-acre lot with ample parking in Ahoskie, North Carolina.
- Diversified, independently owned investment opportunity with upside through a new franchise conversion or a new business strategy to increase RevPAR.
- Popular conveniences within a 5-mile radius include Walmart Supercenter, Food Lion, McDonald’s, Dollar Tree, Wendy’s, Subway, and many more.
- Positioned 0.3 miles from NC Highway 11 with beneficial proximity to ECU Health Roanoke-Chowan Hospital, popular retailers, and quick eats.
- Ideal on-site amenities comprise a conference center, lounge, grill, bar, and mini-store, that can be operated by a tenant to maintain low costs.
EXECUTIVE SUMMARY
Experience the Ahoskie Inn, a prime two-story, interior-corridor hospitality investment with premier visibility at 343 W NC Highway 561 in Ahoskie, North Carolina. Boasting a total of 98 rooms within a 55,000-square-foot building positioned over a spacious 7.15 acres of land, this well-appointed property offers a lucrative opportunity in a thriving area front and center to about 7,000 vehicles per day. Built in 1983, Ahoskie Inn features a modern design with recent renovations in 2016, ensuring a fresh and inviting atmosphere for guests. The hotel features a full-service conference center, lounge, grill, bar, and mini-store, which a new owner can choose to operate or lease out to a tenant to help reduce the cost of payroll and utilities and ultimately help support their net operating income. With an ideal layout, generous B-2 zoning, and a prime location, this acquisition presents a versatile investment option for hospitality entrepreneurs.
Strategically situated to capture a growing market less than a half mile from NC Highway 11, the Ahoskie Inn benefits from a promising demographic profile. Surrounded by a population of 17,827 within 10 miles and an average household income of more than $56,500, 343 W NC Highway 561 offers both stability and sought-after upside for savvy investors. These residents are joined by 8,911 employees and have a considerable spending power of well over $176 million annually. Local amenities available within 5 miles of the property, near Downtown Ahoskie, that can serve as a convenience to visitors include Walmart Supercenter, Food Lion, McDonald’s, Dollar Tree, Piggy Wiggly, Burger King, Subway, Wendy’s, Advance Auto Parts, Verizon and many more. ECU Health Roanoke-Chowan Hospital, a 114-bed hospital offering numerous health specialty services to nearly 40,000 people across four counties is beneficially situated a seven-minute drive from 343 W NC Highway 561.
Ahoskie Inn was formerly operated as a Holiday Inn and a Ramada Inn. The hotel has operated as an independent property for the past several years. This allows the property to be delivered without any deferred maintenance encumbered unto it by a franchise company in the form of a property improvement plan. On the other hand, a new investor can choose to acquire the hotel and use the cash flow from the existing business to convert the property into a franchised hospitality asset. The property is currently operated by owner-absentee, with existing ownership having the luxury of rarely visiting and maintaining the hotel as the current operations are entirely dependent on the existing staff. Given the property’s desirable build-out, many franchises would be available for an experienced operator to transform this acquisition into a high-performing asset with an increased RevPAR. Don't miss out on the opportunity to own a prominently positioned hospitality asset in this vibrant location primed for the success of its next venture.
Property tours are available by appointment only. Please contact the broker to schedule.
Strategically situated to capture a growing market less than a half mile from NC Highway 11, the Ahoskie Inn benefits from a promising demographic profile. Surrounded by a population of 17,827 within 10 miles and an average household income of more than $56,500, 343 W NC Highway 561 offers both stability and sought-after upside for savvy investors. These residents are joined by 8,911 employees and have a considerable spending power of well over $176 million annually. Local amenities available within 5 miles of the property, near Downtown Ahoskie, that can serve as a convenience to visitors include Walmart Supercenter, Food Lion, McDonald’s, Dollar Tree, Piggy Wiggly, Burger King, Subway, Wendy’s, Advance Auto Parts, Verizon and many more. ECU Health Roanoke-Chowan Hospital, a 114-bed hospital offering numerous health specialty services to nearly 40,000 people across four counties is beneficially situated a seven-minute drive from 343 W NC Highway 561.
Ahoskie Inn was formerly operated as a Holiday Inn and a Ramada Inn. The hotel has operated as an independent property for the past several years. This allows the property to be delivered without any deferred maintenance encumbered unto it by a franchise company in the form of a property improvement plan. On the other hand, a new investor can choose to acquire the hotel and use the cash flow from the existing business to convert the property into a franchised hospitality asset. The property is currently operated by owner-absentee, with existing ownership having the luxury of rarely visiting and maintaining the hotel as the current operations are entirely dependent on the existing staff. Given the property’s desirable build-out, many franchises would be available for an experienced operator to transform this acquisition into a high-performing asset with an increased RevPAR. Don't miss out on the opportunity to own a prominently positioned hospitality asset in this vibrant location primed for the success of its next venture.
Property tours are available by appointment only. Please contact the broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Purchase Agreement
- Operating and Financials
- Offering Memorandum
- Third Party Reports
- Title and Insurance
PROPERTY FACTS
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 7.15 AC |
| Building Size | 55,000 SF |
| No. Rooms | 98 |
| No. Stories | 2 |
| Year Built/Renovated | 1983/2016 |
| Parking Ratio | 4.02/1,000 SF |
| Corridor | Interior |
AMENITIES
- Business Center
- High Speed Internet Access
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $143.85 CAD | - |
| Guest Room | 96 | $100.70 CAD | - |
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ABOUT NORTHEAST NORTH CAROLINA
The Northeast North Carolina area includes cities such as Greenville, Murfreesboro, Roanoke Rapids, and Henderson. U.S. Route 158 runs east-west through the northeastern region of the state, and interstates 85 and 95 provide easy access to Raleigh-Durham, Richmond, and Norfolk/Virginia Beach.
Henderson and Oxford are located north of the Research Triangle, which is anchored by three major research universities in Raleigh and Durham: North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill. The Triangle’s economy is also supported by leading technology firms, medical centers, and government employers. Other industries in the area that generate business travel demand are healthcare, education, and manufacturing.
Greenville, Murfreesboro, and Roanoke Rapids can be found in the Inner Banks region, a largely agrarian inland coastal plain. The Inner Banks are surrounded by waterways and swamps, which draw visitors for relaxation, boating, fishing, and other water activities.
PROPERTY TAXES
| Parcel Number | 5983-25-5664 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,735,419 CAD |
ZONING
| Zoning Code | B-2 |
SALE ADVISOR
SALE ADVISOR
Garrett Cox, Broker
(562) 889-9660
Contact
Garrett Cox has grown up with the expanding and evolving Topsail/Hampstead communities. Through attending Topsail schools since his elementary days and currently residing on Topsail Island, he has witnessed firsthand why his homeland has become such a desirable, welcoming and fast-growing region. While Cox has ventured to pursue different dreams and goals—Charlotte for college, Europe for soccer, and Central America for surf trips—he’s always returned to the place he loves most, further grounding his nearly two decades of Southeastern North Carolina roots. His affinity and knowledge of the area will assist in finding the PERFECT property, fulfilling the boxes his clients need checked in their ideal Real Estate. Cox’s years of carpentry work also aids in assessing the quality of properties. The Wilmington/Topsail/Hampstead area possesses a vast environment, providing picturesque landscapes, waiting to be accentuated by the properly placed new home, first home or relocation. Allow Garrett Cox to guide you through your Real Estate hunt and experience, whether it’s locating your dream home or voicing the features your current property sings. Cox loves and holds pride in his home region, let him show you all the reasons why—perhaps Southeastern North Carolina may continue or be your new roots, too.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Keisha Hartshorn
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
