Fairfield Inn & Suites Smithfield Selma/I-95 | 809 Venture Dr
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Fairfield Inn & Suites Smithfield Selma/I-95 809 Venture Dr
89 Room Hotel Smithfield, NC 27577 For Sale
Investment Highlights
- Prime Location Near Raleigh: Strategically located along the I-95 corridor and close to the growing Raleigh market.
- Cost Advantage: Available below replacement cost, providing an attractive investment opportunity for potential buyers.
- Revenue Growth Potential: Strong revenue upside in a growing market with nearby attractions like Carolina Premium Outlets and historic sites.
Executive Summary
Property listed by Akshat A. Patel | License: NC 244500
Initial call for offers is December 15th, 2024. Interested parties should contact Akshat A. Patel at Prime Source Properties for the offering memorandum and comprehensive marketing package.
Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings.
Prime Source Properties ("Prime Source") is pleased to offer the opportunity to acquire a fee simple interest in the Fairfield Inn & Suites Smithfield (the "Property", "Asset", or "Hotel") an 89-room hotel strategically located at 809 Venture Drive Smithfield, NC 27577. The Property benefits from its prime location on Venture Drive, near a corridor of Interstate 95 (with an average traffic volume of 46,500 vehicles / day), providing exceptional visibility and convenient access. The hotel is in close proximity to all major demand generators in the area including the Carolina Premium Outlets, UNC Health / Johnston Memorial Hospital, and Johnston Community College.
The city of Smithfield is part of the Raleigh Metropolitan Statistical Area (MSA), located 25 miles Southeast of Raleigh. Smithfield is located near NC's Research Triangle and is in close proximity of downtown Raleigh. The Raleigh-Durham-Cary combined statistical area has a population over 2 million residents.
The Property currently has an assumable Non-Recourse CMBS loan. The Buyer will have the option to take on the existing loan at its current terms or purchase the asset free and clear, with the ability to add their own debt.
Offered below replacement cost and with significant upside potential via optimizing operations, a new owner is presented with the unique opportunity to drive top-line performance beyond historical benchmarks. Furthermore, by implementing an effective revenue management strategy and improving operational efficiencies a new owner and operator can significantly improve flowthrough to the bottom line.
Initial call for offers is December 15th, 2024. Interested parties should contact Akshat A. Patel at Prime Source Properties for the offering memorandum and comprehensive marketing package.
Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings.
Prime Source Properties ("Prime Source") is pleased to offer the opportunity to acquire a fee simple interest in the Fairfield Inn & Suites Smithfield (the "Property", "Asset", or "Hotel") an 89-room hotel strategically located at 809 Venture Drive Smithfield, NC 27577. The Property benefits from its prime location on Venture Drive, near a corridor of Interstate 95 (with an average traffic volume of 46,500 vehicles / day), providing exceptional visibility and convenient access. The hotel is in close proximity to all major demand generators in the area including the Carolina Premium Outlets, UNC Health / Johnston Memorial Hospital, and Johnston Community College.
The city of Smithfield is part of the Raleigh Metropolitan Statistical Area (MSA), located 25 miles Southeast of Raleigh. Smithfield is located near NC's Research Triangle and is in close proximity of downtown Raleigh. The Raleigh-Durham-Cary combined statistical area has a population over 2 million residents.
The Property currently has an assumable Non-Recourse CMBS loan. The Buyer will have the option to take on the existing loan at its current terms or purchase the asset free and clear, with the ability to add their own debt.
Offered below replacement cost and with significant upside potential via optimizing operations, a new owner is presented with the unique opportunity to drive top-line performance beyond historical benchmarks. Furthermore, by implementing an effective revenue management strategy and improving operational efficiencies a new owner and operator can significantly improve flowthrough to the bottom line.
Data Room Click Here to Access
Property Facts
| Sale Type | Investment | No. Rooms | 89 |
| Property Type | Hospitality | No. Stories | 4 |
| Property Subtype | Hotel | Year Built/Renovated | 2013/2022 |
| Building Class | B | Tenancy | Single |
| Lot Size | 1.51 AC | Parking Ratio | 1.79/1,000 SF |
| Building Size | 50,417 SF | Corridor | Interior |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.51 AC |
| Building Size | 50,417 SF |
| No. Rooms | 89 |
| No. Stories | 4 |
| Year Built/Renovated | 2013/2022 |
| Tenancy | Single |
| Parking Ratio | 1.79/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Digital key
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 22 | $161.00 | - |
| Guest Room | 67 | $122.00 | - |
PROPERTY TAXES
| Parcel Number | 15L11008N | Improvements Assessment | $5,606,840 |
| Land Assessment | $657,760 | Total Assessment | $6,264,600 |
PROPERTY TAXES
Parcel Number
15L11008N
Land Assessment
$657,760
Improvements Assessment
$5,606,840
Total Assessment
$6,264,600
zoning
| Zoning Code | SUP |
| SUP |
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Fairfield Inn & Suites Smithfield Selma/I-95 | 809 Venture Dr
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