5708 Northampton Blvd - Hospitality FOR SALE
Virginia Beach, VA 23455 |
5708 Northampton Blvd
Virginia Beach, VA 23455
HIGHLIGHTS
- Fee-Simple Interest in the Magnuson Hotel Virginia Beach on an Expansive 3.86 Acre Site
- Property is Comprised of 162 Total Units | 136 Rentable with Remaining 18 Operating as Storage/Utility Space and 8 Offline
- Among the Best Corner Lots in Virginia Beach | 3.86-Acres at the Intersection of Northampton Blvd (54,833 VPD) and Diamond Springs Rd (28, 266 VPD)
- Significant Rooms Revenue Upside Through Renovation and/or Rebranding | $24.02 Subject Property RevPAR versus $37.58 Market RevPAR (64% PI)
- Property Achieved Rooms Revenue of Only ~$1,300,000 in 2024 ($24.02 RevPAR) | Property has Potential to Achieve Rooms Revenue of ~$2,000,000
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Magnuson Hotel Virginia Beach
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
81814
STORIES
2
ROOM ENTRANCE
Exterior
BUILDING CLASS
B
YEAR BUILT
1973
PARKING SPACES
168
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
H1
APN/PARCEL ID
1469-00-9300
