2001 Mount Harmony Church Rd - Hospitality FOR SALE


Matthews, NC 28104
$8,100,000 USD
334-313-6014
2001 Mount Harmony Church Rd, Matthews, NC for Sale
$8,100,000 USD
Hospitality - FOR SALE
1/35
null | Request Cap Rate

2001 Mount Harmony Church Rd
Matthews, NC 28104


HIGHLIGHTS

  • Converted from a Country Inn & Suites in 2023, the property underwent a full brand conversion with over $1.2 million in capital improvements.
  • 12 months post-renovation, the hotel is projected to surpass $1.8 million in annual revenue.
  • The property is strategically located near U.S. Route 74 and I-485, with combined traffic counts of approximately 97,540 vehicles per day (VPD).
  • Matthews, NC is undergoing rapid growth supported by major public and private investments.
  • Matthews, NC recently implemented new short-term rental regulations which is expected to redirect demand to hotels and create more stable occup.
  • Located within the high-growth Charlotte MSA - the property benefits from proximity to one of the fastest-growing metros in the U.S.

OVERVIEW

Connolly Investments, in accordance with ParaSell, Inc., as the exclusive representative of ownership, is pleased to present to qualified purchasers the 73-key Wingate by Wyndham located in Matthews, North Carolina. This property offers a rare opportunity to acquire a fully operational, recently renovated turn-key hotel within the Charlotte MSA, one of the fastest-growing metropolitan areas in the Southeast. Ideally positioned with strong visibility and accessibility from I-485, the hotel benefits from close proximity to a range of corporate, leisure, and medical demand generators. The hotel recently completed a comprehensive $1.2 million Property Improvement Plan (PIP), encompassing both interior and exterior renovations. These improvements not only met but exceeded brand standards, resulting in an asset that stands out among comparable properties. The only expected remaining item on the Change of Ownership PIP (COO PIP) is the installation of new televisions, with an estimated cost of approximately $50,000. Operationally, the hotel is performing well, with revenue projected to surpass $1.8 million in 2025. Notably, the Charlotte East/Matthews submarket currently has no hotels under construction and no new deliveries in the past 12 months, ensuring consistent demand with no near-term threat of new supply. The 12-month RevPAR has increased 10.2% year-over-year, reflecting strong market performance. This offering presents a compelling opportunity for both owner-operators and institutional investors seeking a quality asset in a growing market, with strong upside potential and minimal short-term capital needs. All property tours must be scheduled through the listing agents. Unscheduled visits are strictly prohibited.

FOR SALE DETAILS

PRICE

$8,100,000 USD

PRICE/SF

$207 USD /SF

# OF ROOMS

73

PRICE/ROOM

$110,959 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wingate by Wyndham Matthews/Charlotte

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2001

PARKING SPACES

79

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

I-2 (CD)

APN/PARCEL ID

215-092-21

ASK ABOUT THIS PROPERTY

Katherine ConnollyConnolly InvestmentsMore Info
334-313-6014

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Katherine ConnollyConnolly InvestmentsMore Info
334-313-6014

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