Charlotte, North Carolina Hotel Portfolio For Sale
Sale Price: Subject to Offer
Projected Revenue: $7,500,000
Projected NOI: $3,000,000
Lot Size: 10.3 Acres
Year Built: 1971
Building Size: 441,096
Submarket: Charlotte Downtown,Southpark & Tyvola Business Park
Traffic Count: 143,754
Number Of Rooms: 408
Conversion Opportunities: Available
Located right off I-77 in Southwest Charlotte
10 minutes to Charlotte Douglas International Airport
10 minutes to Uptown Charlotte
10 minutes to Bank of America Stadium (Carolina Panthers)
10 minutes to Spectrum Center (Charlotte Hornets)
10 minutes to BB&T Ballpark (Charlotte Knights)
15 minutes to SouthPark Mall
5 minutes to Carowinds
The Charlotte portfolio consists of a 91 guest room Radisson Hotel, a 102 guest room Clarion Hotel and 215 guest room Ramada Plaza.
The Clarion Hotel and Ramada Plaza generated Room Revenue of approximately $5MM for 2016 and TTM April 2017 and NOI of $1.6MM after deducting a 3% Management Fee and 4% FF&E Reserve.
The Radisson Hotel is currently undergoing a complete renovation/construction and expected to do $2.5MM in Room Revenue and NOI of $1.4MM conservatively after a 3% Management Fee and 4% FF&E Reserve. The Radisson Hotel is expected to open in August 2017.
The 3 Hotels are located on the same Parcel and can be easily accessed from I-77. The location offers convenient access to Charlotte Douglas International Airport with free shuttle service.
Attractions close to the hotel include the Charlotte Convention Center, Charlotte Motor Speedway, Bojangles Coliseum, Bank of American Stadium (Home of the Carolina Panthers), Carowinds, Spectrum Center and Billy Graham Library.
Amenities include an outdoor pool, fitness centers, business centers, 18,000 SF of event space and 6 meeting rooms which can accommodate up to 1,200 conference guests or 400 banquet guests.
There are conversion opportunities on the table offered by several national brands.
CHARLOTTE HOTEL PORTFOLIO | ADDRESS NOT DISCLOSED CHARLOTTE, NC
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