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23500 Welcome Way Dr
Ruther Glen, VA 22546
Quality Inn & Suites Ruther Glen · Hospitality Property For Sale · 62,704 SF
Investment Highlights
- Two-story, interior corridor building in excellent condition after the completion of a major renovation and recently opened as a Quality Inn
- For the Trailing Twelve months through December 2019, the Hotel's nearby competitive properties on I-95 ran 52% at $80.41 with a RevPAR of $41.72
- Property includes the adjacent 4.32-acre parcel that contains a 7,766+/- SF building (former Aunt Sarah's Restaurant) that could be potentially leased
- The property has gone through extensive renovations with over $800,000 ($6,650/room) of recent new improvements; Very Minimal PIP, estimated at $25k
- Very easy to operate and ideal size for an Owner-Operator; provides a great opportunity for upside potential in top-line growth, expense management
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1968/2019 |
| Building Class | C | Parking Ratio | 2.25/1,000 SF |
| Lot Size | 3.71 AC | Corridor | Interior |
| Building Size | 62,704 SF |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.71 AC |
| Building Size | 62,704 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2019 |
| Parking Ratio | 2.25/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Pool
- Restaurant
- Wheelchair Accessible
- High Speed Internet Access
- Patio
- On-Site Bar
- Outdoor Pool
- Public Access Wifi
- Smoke-Free
- Multi-Room Suites
About 23500 Welcome Way Dr , Ruther Glen, VA 22546
Lodging Partners, in association with CAS Associates, is pleased to offer the fee simple interest in the sale of the 120-unit Quality Inn & Suites on I-95, north of Richmond, Virginia. Ruther Glen, Virginia is situated in Caroline County 30 miles north of Richmond, Virginia and 70 miles south of Washington, D.C. Interstate 95 travels through the county and provides direct access to both cities. The county is home to more than 30,000 people, and the area has a diverse economy due to corporate demand generators, Fort A.P. Hill U.S. Army Garrison, and a variety of leisure demand generators, including Virginia Sports Complex and the Virginia State Fair. The Hotel is also located just one exit north of Kings Dominion Theme Park. Caroline County features an extensively connected infrastructure network. The Quality Inn & Suites is located at Exit 104 of I-95, the major north-south highway on the Eastern Seaboard. The Hotel has excellent visibility and access to I-95 with over 105,000 interstate motorists passing the Hotel daily. Exit 104 also has direct access to Rt. 301, the “backdoor” to Washington, D.C. and U.S. 17, a principal route connecting the Hampton Road area with Washington, D.C. The Hotel is near a great selection of national and local restaurants in the immediate area, which includes Denny's, Waffle House, Mi Jalisco Mexican, Golden Corral Buffet & Grill, and Arby’s. The Hotel is in good condition after just completing an $800,000 renovation in May 2019 that included the guest rooms, front desk/lobby, a complete exterior makeover and outdoor swimming pool. The Hotel offers numerous complimentary amenities such as an outdoor swimming pool, bus and truck parking, business center, free hot breakfast, free WiFi, and guest laundry.
PROPERTY TAXES
| Parcel Number | 82-14-B | Improvements Assessment | $2,883,300 |
| Land Assessment | $584,900 | Total Assessment | $3,468,200 |
PROPERTY TAXES
zoning
| Zoning Code | B1 (General Business District) |
| B1 (General Business District) |
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