2402 S Sterling St - Hospitality FOR SALE


Morganton, NC 28655
$5,750,000 USD
334-313-6014
2402 S Sterling St, Morganton, NC for Sale
$5,750,000 USD
Hospitality - FOR SALE
1/46
null | 14.09% Cap Rate

2402 S Sterling St
Morganton, NC 28655


HIGHLIGHTS

  • Renovated Asset – $1.8M in recent renovations including new roof, utilities, lobby, breakfast lounge, fitness center, upgraded guestroom and exterior.
  • Streamlined Operations – Conversion from dual-brand Baymont/Super 8 to full Super 8 has improved revenue performance and operational efficiency.
  • Owner-Operator Advantage – 111 guestrooms plus manager’s apartment; well suited for hands-on ownership and operational control
  • Proximity to Lake James, Linville Gorge, Silver Fork Winery, and the Fonta Flora State Trail supports consistent year-round leisure demand.
  • Directly off I-40 with easy access to Charlotte (~75 miles) and Asheville (~57 miles), capturing consistent business and leisure traffic.
  • The property is within a six-minute drive of UNC Health Blue Ridge, Broughton Hospital, and the Western Piedmont Community College main campus.

OVERVIEW

Connolly Investments, in partnership with ParaSell Inc., as the exclusive representative of ownership, is pleased to present to qualified investors the opportunity to acquire a stabilized and recently renovated Super 8 by Wyndham located directly off Interstate 40 in Morganton, NC. The offering includes the fee-simple real estate and operations of this 111-key property, which is unencumbered by debt or management agreements. All property tours must be scheduled through the listing agents. Unscheduled visits are strictly prohibited. In Association with ParaSell, Inc. | A Licensed North Carolina Broker #C32060

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$135 USD /SF

# OF ROOMS

111

PRICE/ROOM

$51,802 {currency}

CAP RATE

14.09%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Super 8 by Wyndham Morganton

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1978

PARKING SPACES

94

LAND DETAILS

LAND ACRES

3.56 AC

LAND SF

155,074 SF

ZONING

Commercial

APN/PARCEL ID

16596

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 Notice.