429 W Main St | Covington, VA 24426
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429 W Main St
Covington, VA 24426
Quality Inn Covington · Hospitality Property For Sale · 24,896 SF
Investment Highlights
- Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings.
- Completely Renovated in 2019-2022 with Minimal Expected Change-in-Ownership PIP
- 2021 RevPAR Penetration of 59% Versus the Competitive Set
- Fee Simple Interest in the 49-Unit, Two-Story, Limited-Service Quality Inn in Covington, Virginia
- Compact, Efficient Building with Low Property Tax Offers Above-Average Net Operating Income Margins
- Absentee Owner | Significant Upside to Purchaser by Leveraging Recent Renovations
PROPERTY FACTS
| Property Type | Hospitality | Building Size | 24,896 SF |
| Property Subtype | Hotel | No. Stories | 2 |
| Building Class | C | Year Built | 1960 |
| Lot Size | 0.76 AC | Corridor | Exterior |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 24,896 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Corridor | Exterior |
Amenities
- Business Center
- Fitness Center
- Meeting Event Space
PROPERTY TAXES
| Parcel Number | 010-01-0000-00002 | Improvements Assessment | $1,045,100 |
| Land Assessment | $67,600 | Total Assessment | $1,112,700 |
PROPERTY TAXES
Parcel Number
010-01-0000-00002
Land Assessment
$67,600
Improvements Assessment
$1,045,100
Total Assessment
$1,112,700
zoning
| Zoning Code | C3 (Commercial) |
| C3 (Commercial) |
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