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350 Venus St
Monroe, NC 28112
Super 8 by Wyndham Monroe · Hospitality Property For Sale · 36,488 SF
PROPERTY FACTS
| Property Type | Hospitality | Building Size | 36,488 SF |
| Property Subtype | Hotel | No. Stories | 1 |
| Building Class | C | Year Built/Renovated | 1989/2018 |
| Lot Size | 3.95 AC | Corridor | Exterior |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.95 AC |
| Building Size | 36,488 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1989/2018 |
| Corridor | Exterior |
Amenities
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
About 350 Venus St , Monroe, NC 28112
The Property has guest amenities including complimentary continental breakfast, wireless high-speed internet, meeting room, bus & truck parking, and a seasonal outdoor pool. Seven of the guestrooms feature kitchenettes for long term guests. The hotel is well-maintained and in good condition, and recently completed a major renovation. The unit configuration of the Hotel consists of the following: 102 Rooms (66 Double-Doubles / 29 Kings / 7 Kitchenettes / and a large Manager's Apartment). COMPLETED FULL RENOVATION Over the past two years, there have been over $1,350,000 ($13,235/room) of interior and exterior renovations. Improvements recently completed included renovations to the lobby, and all guestrooms renovations included knockdown wall texture, bathroom floor tile, and the installation of new furniture, 40" TV's, and microwave & refrigerators. Exterior renovations include a new roof, and the installation of all exterior stucco, windows, doors, and locks. LOCATION HIGHLIGHTS Monroe is a city in and the county seat of Union County, NC within the rapidly growing Charlotte-Gastonia-Rock Hill, NC-SC Metropolitan area. Monroe is a bedroom community of Charlotte due to its location on US-74. Charlotte, NC is a major center of finance, industry, technology, and entertainment and is the second largest financial center in the U.S. and one of the most vibrant districts in the southeast. Charlotte is ranked seventh with the most Fortune 500 companies headquartered in a city, one of which includes the nation’s second-largest financial institution, Bank of America; other Fortune 500 companies based in or near Charlotte include Lowes, Duke Energy, Nucor, Sonic Automotive, Sealed Air and Domtar. Other major employers in Charlotte include Belk, Coca Cola Bottling, Wal-Mart, UTC Aerospace Systems, Carolinas HealthCare System, Wells Fargo, and Novant Health. UPSIDE POTENTIAL This property offers significant upside potential with more hands-on management and direct sales efforts. The ideal buyer will be an owner-operator who focuses on sales and drives top-line revenue to increase the Hotel’s RevPAR index to market levels while revamping revenue management strategy and reducing unnecessary expenses to achieve a much stronger bottom-line flow-through.
PROPERTY TAXES
| Parcel Number | 09-156-026 | Improvements Assessment | $1,602,800 |
| Land Assessment | $953,200 | Total Assessment | $2,556,000 |
PROPERTY TAXES
zoning
| Zoning Code | AP9 |
| AP9 |
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