85 University Blvd - Hospitality FOR SALE
Harrisonburg, VA 22801 |
85 University Blvd
Harrisonburg, VA 22801
HIGHLIGHTS
- Strong brand affiliation with flexibility upon change-of-ownership PIP within one of the world’s largest and fastest-growing hospitality companies.
- By implementing strategic improvements and operational enhancements, a new owner will be able to drive the hotel’s NOI well past pre-pandemic levels.
- Offered unencumbered of management, new ownership can capitalize on operational upside to align the hotel’s bottom line with industry-leading assets.
- Immediately adjacent to James Madison University (JMU), a public university hosting 139 degree programs, 1,463 faculty, and 22,224 students.
- At $109.75 in September 2023, 12-month ADR was up 5.6% YOY and 12-month average RevPAR advanced 7.1% to $63.09 in September 2023.
- Following a change of ownership PIP or brand conversion, a buyer has the opportunity to reposition and push the rate past the historical average.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Hampton Inn Harrisonburg - University
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
70352
STORIES
4
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
1989
PARKING SPACES
96
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
B-2
APN/PARCEL ID
078-B-2
