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8+ Acres Prime Commercial Real Estate & Inn 240 Mitchelle Dr

49 Room Hotel Hendersonville, NC 28792 $8,000,000 ($163,265/Room)

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Executive Summary

Prime commercial investment opportunity poised for development in ideally situated Opportunity Zone with optimal access to 2 major highways. 4 parcels totaling 8.16 acres includes the successfully operating 48-room Red Roof Inn, available as part of the purchase or for residential conversion combined with a larger housing development on additional acreage. Situated in fast-growing Henderson County, NC between Asheville, NC and Greenville/Spartanburg, SC, this property is surrounded by large national retailers and is shovel ready to take advantage of current and projected growth, including sewer, 3-phase power line, gas line, and water line already in place.C-3 zoning allows for a variety of commercial opportunities. Just 5 minutes from historic downtown Hendersonville, this community attracts approximately 2 million tourists per year and has grown its population by nearly 12% over the last 5 years.

_Red Roof Feature Flyer

Deed For 3 lots

KenKen-Declaration-of-Restrictions -Outback Restrictions on land, not red roof inn

Red Roof Inn 240 Mitchelle Dr Deed (2)

Trafic Count & Opportunity Zone (2)

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official_printing_zoning_map_october_2023_2 (1)

Property Facts

Price	$8,000,000	Building Size	22,392 SF
Price Per Room	$163,265	No. Rooms	49
Sale Type	Investment	No. Stories	2
Property Type	Hospitality	Year Built	2002
Property Subtype	Hotel	Parking Ratio	2.19/1,000 SF
Building Class	C	Corridor	Interior
Lot Size	3.76 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$8,000,000
Price Per Room	$163,265
Sale Type	Investment
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	3.76 AC
Building Size	22,392 SF
No. Rooms	49
No. Stories	2
Year Built	2002
Parking Ratio	2.19/1,000 SF
Corridor	Interior
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.