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Hotel Development Site – Zero Cost with Seller Credit

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Hotel Development Site – Zero Cost with Seller Credit
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  • Virginia

Hotel Development Site – Zero Cost with Seller Credit

For Sale

$300,000 with $300,000 Seller Credit to Buyer

  • Aerial development site
  • Aerial new Loves Travel
  • development site1
  • Aerial development site
  • Aerial new Loves Travel
  • development site1
Hotel Development Site – Zero Cost with Seller Credit

Property ID :

 Hotel Dev. Site Virginia

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Lot Size
7.148 Acres

Features

  • Land For Development

Description

Now with More Incentives!

Unique Opportunity to purchase a 7 Acre Lot in southwestern Virginia at No Cost After County Development Credit. This lot is part of a 5 Parcel Development Project. The Bland County development team offers this unique deal for a developer to build a 60 – 80 key Hotel at growing Interstate 77 Exit 58. A New Love’s Travel Plaza just opened at the exit and the site is across from a museum. After completion, this would be the only hotel on I-77 between Wytheville, VA and Bluefield, WV.

Developer has pick of brands including Fairfield Inn & Suites, Best Western Plus, Country Inn & Suites, Hampton Inn, Comfort Inn, Holiday Inn Express, etc.

The hotel site (Lot #2) totals 7.148 Acres with 2.27 acres buildable area. This lot is offered for sale as part of a 5-Parcel Development. Lot #3 is slated for a restaurant. If the hotel developer wants to build a restaurant as well, the county would include Lot #3 with the sale of Lot #2.

Demand comes from both transient and leisure travelers. Interstate 77 has about 30,000 vehicles per day and there is a lodging “hole” in this area. Outdoor Recreation leads the leisure segment with a plethora of national forests, hiking trails, and Wolf Creek Indian Village & Museum with over 7000 visitors per year located directly across from the hotel site.

Projected Property Stats Based on 2024 Opening and STR Trend Report:  68% Occupancy, $130 ADR, $88 RevPAR. Cap Rate: 10.1% on Cost to Build to Expected Income.

Please fill out the Confidentiality Agreement to receive more details.

 

Property on Map

Property Video

  • Bland County Virginia Exit 58 Development

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30 Years Fixed, 3.5% Interest
  • Principle and Interest

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Agent Charlie Fritsch

Office:  (410)489-5900 x114

Email:  charlie@mbahotels.com

More Information?

To obtain more information about this property, please first register to our site. If you already have an account, login with your corresponding username and password.

Then, please fill out our confidentiality agreement form.

After this is completed, we will send you an email with the property’s information. If you don’t receive an email after a couple minutes, please check your spam or deleted folder.

If you are having trouble getting this information, please contact info@mbahotels.com

MBA Hotel Brokers Inc.

/MBA Hotel Brokers Inc.

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3060 Rt. 97. Glenwood, MD.

410-489-5900

info@mbahotels.com

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