700 Norris Harbor Dr - Hospitality FOR SALE


Crisfield, MD 21817
$1,250,000 USD
410-968-0478
700 Norris Harbor Dr, Crisfield, MD for Sale
$1,250,000 USD
Hospitality - FOR SALE
1/102
null | Request Cap Rate

700 Norris Harbor Dr
Crisfield, MD 21817


HIGHLIGHTS

  • TOP 3% IN CHOICE HOTELS

OVERVIEW

38 Room Hotel with many upgrades. This is the only hotel in Crisfield that sits on the water with beautiful Somers Cove Marina views. Rooms have water fronts views with pool was renovated 2 years ago. In 2020 the hotel extended its lobby and made a 4 bedroom apartment/home for the owners/managers over top the lobby. In the last few years all room have been Knock down and painted. 18 rooms have been updated with new floors and walk in showers. Building has had new siding put on front of building and new composite decking. In 2022 Somers Cove Hotel became a Choice Hotel as the Rodeway Inn. Since then the hotel and owners have received multiple awards, including Gold & Platinum top Hotel!!! That means they were in the top 3% of all Choice Hotels. Hotel is adjacent Somers Cove Marina. Only water-front guest lodging in Crisfield, MD. 2.47 ac site on $3000/yr 50 yr ground lease, w/ 25 yr renewal option. Features in-ground pool; 2 bldgs, harbor & marina views. Crisfield is a beautiful waterfront community, Maryland's Blue Crab Capitol, Chesapeake Bay sportsmen's' destination.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$88 USD /SF

# OF ROOMS

38

PRICE/ROOM

$32,895 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Rodeway Inn At Somers Cove Marina

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1978

PARKING SPACES

62

LAND DETAILS

LAND ACRES

2.17 AC

LAND SF

94,525 SF

ZONING

T-M

APN/PARCEL ID

07-132832

ASK ABOUT THIS PROPERTY

Melissa LairdLaird & AssociatesMore Info
410-968-0478

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Melissa LairdLaird & AssociatesMore Info
410-968-0478

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