Fairfield Inn & Suites Asheboro
87 Room Hotel | Asheboro, NC 27203 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Hospitality
- Square Feet
- 45,273 SF
Listing Contacts
Harry Mancera
Verified Profile
Kyle Stevenson
Verified Profile
Larissa Isenberg
Verified Profile
Caleb Troop
Verified Profile
- Property Info
Property Overview
RI Marketplace Online Auction August 5-7
Register to Bid on Marketplace
Berkadia Hotels & Hospitality (“Berkadia”), in conjunction with RI Marketplace, is pleased to offer, on an exclusive basis, the opportunity to acquire fee simple interest in the Fairfield Inn & Suites Asheboro (the “Property”, “Asset”, or “Hotel”) an 87-room hotel strategically located at 920 Executive Way Asheboro, NC 27203. The Property benefits from its prime location off East Dixie Dr. (with an average traffic volume of 30,000 vehicles per day), providing exceptional visibility and convenient access. The Hotel is in close proximity to all major demand generators in the area including the Klaussner Home Furnishings manufacturing facility, the Randolph Health Medical Center and the North Carolina Zoo. The Hotel is being sold at auction via RealINSIGHT Marketplace on August 9th, 2024.
The city of Asheboro is part of the Greensboro-High Point Metropolitan Statistical Area (MSA), in central North Carolina along Interstate 75 located midway between Charlotte and Raleigh. The key industry in the area is manufacturing, particularly furniture, textiles, and batteries. The North Carolina Zoo, one of the largest natural habitat zoos in the world, spans over 2,600 acres with 500 acres developed for public exhibition and serves as a top tourist attraction in the region.
Offered below replacement cost and with significant upside via the completion of a renovation, a new owner is presented with the unique opportunity to drive top-line performance beyond historical benchmarks. Furthermore, by implementing an effective revenue management strategy and improving operational efficiencies a new owner and operator can significantly improve flow through to the bottom line.
Property tours:
Tuesday July 9th and Wednesday July 10th.
Please contact Harry Mancera to schedule a property tour.
[email protected]
404.452.1110
Register to Bid on Marketplace
Berkadia Hotels & Hospitality (“Berkadia”), in conjunction with RI Marketplace, is pleased to offer, on an exclusive basis, the opportunity to acquire fee simple interest in the Fairfield Inn & Suites Asheboro (the “Property”, “Asset”, or “Hotel”) an 87-room hotel strategically located at 920 Executive Way Asheboro, NC 27203. The Property benefits from its prime location off East Dixie Dr. (with an average traffic volume of 30,000 vehicles per day), providing exceptional visibility and convenient access. The Hotel is in close proximity to all major demand generators in the area including the Klaussner Home Furnishings manufacturing facility, the Randolph Health Medical Center and the North Carolina Zoo. The Hotel is being sold at auction via RealINSIGHT Marketplace on August 9th, 2024.
The city of Asheboro is part of the Greensboro-High Point Metropolitan Statistical Area (MSA), in central North Carolina along Interstate 75 located midway between Charlotte and Raleigh. The key industry in the area is manufacturing, particularly furniture, textiles, and batteries. The North Carolina Zoo, one of the largest natural habitat zoos in the world, spans over 2,600 acres with 500 acres developed for public exhibition and serves as a top tourist attraction in the region.
Offered below replacement cost and with significant upside via the completion of a renovation, a new owner is presented with the unique opportunity to drive top-line performance beyond historical benchmarks. Furthermore, by implementing an effective revenue management strategy and improving operational efficiencies a new owner and operator can significantly improve flow through to the bottom line.
Property tours:
Tuesday July 9th and Wednesday July 10th.
Please contact Harry Mancera to schedule a property tour.
[email protected]
404.452.1110
Property Details
- Class
- B
- Year Built/Renovated
- 2009/2014
- Stories
- 3
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 115,870 SF
- Units
- 87
Highlights
- Auction Site: https://rimarketplace.com/auction/2060/reit-sale-fairfield-inn-suites-asheboro-nc?utm_source=costar
- Brand Recognition: As part of the Marriott family of hotels the Fairfield Inn & Suites benefits from being part of the world’s largest hotel company
- Attainable Growth: The hotel is well-positioned to capture market demand and achieve growth within the midscale and upper midscale segments.
- The Hotel is being sold w/o a management company in place providing a new owner operational control and the flexibility to use a management company
- With no new competitive hotels currently under construction or in final planning stage in the submarket there is a low risk of supply saturation
- By implementing efficient operational practices, such as streamlining processes, optimizing staffing levels, and leveraging technology, the hotel can
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