Best Western - NC

Property Description: Now offered only 3.2 times room revenue! Located in year round golf destination with international guests. This Best Western hotel offered for sale in North Carolina includes 123 keys, 2 stories, exterior corridors. With beautiful landscaping, courtyard, and outdoor pool, the exterior corridors are plus which gives the hotel a resort feel. Additionally, the property includes excess land, about 1 acre, which can be developed as banquet facility and/or interior corridor guest tower. Located in a renowned Golf Capital with guests coming from around the world to play golf. Full schedule of golf events and tournaments year round. The hotel is located off the highway in a leisure and group destination market. Phase 1 of the PIP is recently completed including landscaping, exterior painting, exterior lighting, renovated fitness center and upgraded RFID lock system. Phase 2 of the PIP is in progress and will include renovated public areas at approximate cost of $300,000. Only Phase 3 of PIP will be left for buyer. Expected revenue increases following completion of renovations. 2017 and 2016 room revenue nearly $1.6 Million. 2016 NOI $515,000. Offered at 10.1% Cap Rate. 18.6% Cash on Cash Return