5708 Northampton Blvd | Virginia Beach, VA 23455
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- LoopNet Team
5708 Northampton Blvd
Virginia Beach, VA 23455
Magnuson Hotel Virginia Beach · Hospitality Property For Sale
·
81,814 SF
INVESTMENT HIGHLIGHTS
- Fee-Simple Interest in the Magnuson Hotel Virginia Beach on an Expansive 3.86 Acre Site
- Among the Best Corner Lots in Virginia Beach | 3.86-Acres at the Intersection of Northampton Blvd (54,833 VPD) and Diamond Springs Rd (28, 266 VPD)
- Property Achieved Rooms Revenue of Only ~$1,300,000 in 2024 ($24.02 RevPAR) | Property has Potential to Achieve Rooms Revenue of ~$2,000,000
- Property is Comprised of 162 Total Units | 136 Rentable with Remaining 18 Operating as Storage/Utility Space and 8 Offline
- Significant Rooms Revenue Upside Through Renovation and/or Rebranding | $24.02 Subject Property RevPAR versus $37.58 Market RevPAR (64% PI)
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1973/2004 |
| Building Class | B | Parking Ratio | 2.05/1,000 SF |
| Lot Size | 4.00 AC | Corridor | Exterior |
| Building Size | 81,814 SF | ||
| Zoning | H1 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 4.00 AC |
| Building Size | 81,814 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2004 |
| Parking Ratio | 2.05/1,000 SF |
| Corridor | Exterior |
| Zoning | H1 |
AMENITIES
- Business Center
- Pool
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
PROPERTY TAXES
| Parcel Number | 1469-00-9300 | Improvements Assessment | $1,847,100 |
| Land Assessment | $1,949,400 | Total Assessment | $3,796,500 |
PROPERTY TAXES
Parcel Number
1469-00-9300
Land Assessment
$1,949,400
Improvements Assessment
$1,847,100
Total Assessment
$3,796,500
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