Portfolio Sale: Established Motel and Apartment Building in Statesville, NC. 

Statesville, NC (Iredell County)

Asking Price: $645,000 

Primary Business Type: Hospitality
Secondary Business Type: Motels and Hotels / Multifamily / Income Producing Properties
Real Estate: Included
Established: 2001 (Motel) and 2003 (Apartment)

Business Description

Turnkey 23 Room Motel with Owner’s Suite & 6 Unit Apartment Building

Motel and Apartment Building with Owner’s Quarters for Sale in Statesville, North Carolina

Asking price (Motel and Apartment Building): $645,000
Asking price (Motel): $350,000
Asking Price (Apartment Building): $295,000

***Total Estimated Replacement Cost New: Over $1 million***

Established two-story 23 room exterior corridor motel and two-story 6 unit apartment building with turn-key operation and great visibility, located near US-64, NC-90 in downtown Statesville. The motel has living quarters for owner-operator or manager, and the apartment has been recently renovated with freshly painted interiors. The apartment building has 2 commercial spaces on the first floor that can be leased to businesses, and 4 units on the second floor.

These properties are approximately 46 min (45.5 miles) from Charlotte-Douglas International Airport and 1.3 miles from Statesville Regional Airport via US-64, NC-90. Easy transportation and travel access, located near numerous restaurants and local businesses, they are just 1 hour 13 min (54.1 miles) from Charlotte, the largest MSA of the Carolinas!

Close to recreation, located approximately 20 min (11.8 miles) from scenic Lake Norman offering a myriad of boating and fishing activities on its 32,000 acres, as well as hiking along its shoreline. It is less than 2 hours from Asheville and the famed Biltmore Estate, and ski lodges in the Appalachian Mountains.

Located approximately 47 min (47.4 miles) from Winston-Salem, 1 hour 3 min (63.4 miles) from High Point, 1 hour 5 min (43.6 miles) from Concord, and 1 hour 10 min (75.3 miles) from Greensboro, these properties are conveniently located with proximity to major eastern US cities.

The Statesville Region was ranked as the nation’s number two micropolitan area in 2011. Some of Statesville’s buildings are listed on the National Register of Historic Places. Most importantly, Statesville is marked by true Southern hospitality, a low cost of living and doing business, and the can-do spirit that’s synonymous with the Carolinas!

**Total Estimated Replacement Cost New: Over $1 million. Great Deal. Current owner has been a proud owner for more than a decade – owned the motel since 2001 and apartment building since 2003. Ideal investment for owner-operator or family-run business, passive income, or additional income after retirement!!!**

For more details regarding occupancy rate and financial information, please call (919) 428-9840. Information in this listing has been provided by the seller and third parties, and is subject to change without notice. Buyer must independently verify this information, and we assume no responsibility for its accuracy or completeness.

Detailed Information

Inventory: Included in asking price

Real Estate:Owned

*Included in asking price

Building SF:14,055

Employees:1 FT, 2 PT

Facilities: Motel SF: 9,070 SF (7,015 HSF, 2055 Non-Heated SF) Apartment Bldg SF: 7,476 SF (7,040 HSF, 436 Non-Heated SF) Total Acreage: 0.547 AC Two-story 23 room exterior corridor motel features owner/manager’s suite, smoking as well as non-smoking rooms, and substantial parking. Apartment building has 6 units including 2 commercial units for lease, and has been recently renovated. Facility has 24 hour availability, air conditioning, balcony, microwaves, TVs, security system, storage space, office and laundry.

Competition: Current owner has been a proud owner since 2001/2003! Owner operator can expect higher occupancy rate and cash flow. Ideal investment for family-run business, passive income, or additional income after retirement!! Location is in the heart of Statesville, North Carolina with numerous restaurants and shopping nearby, close to the airport, recreational places, and conveniently located with proximity to major eastern US cities. Total estimated replacement cost for new construction is over $1 million. Great deal, won’t last long!!!

Growth & Expansion: Turnkey operation. Immediate revenue upside potential with family or owner-operation, additional amenities, sales and marketing efforts.

Support & Training: 1-2 weeks training

Reason for Selling: Downsizing due to retirement