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701 N Marine Blvd
Jacksonville, NC 28540

$2,350,000

Hotel For Sale  •  70,768 Sq Ft

Property Details

  • Property Type Hotel
  • Total Building Size 70,768 Sq Ft
  • Lot Size 2.51 ac
  • Building Class B
  • Year Built 1968
  • Tenancy Multiple
  • Zoning B1
0 Transit Score
60 Walk Score

Description

Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for qualified investors the following opportunity in Jacksonville, North Carolina. The property is currently operating as a Red Carpet Inn and is priced on a pro-forma valuation. It is approved for Choice Hotels’ new Clarion Pointe brand, as well as Wyndham Hotels’ Travelodge brand. Conservative PIP Estimates to convert to Clarion Pointe are $5,000-$6,000 per key. The site has an ideal location in the heart of Jacksonville and is minutes away from major attractions. The hotel is a seven minute drive to the Jacksonville Mall with over 245,000 square feet of retail space. This hotel is also within close proximity of the Onslow Memorial Hospital (162 beds), Brynn Marr Hospital (102 beds) and Naval Hospital Camp Lejeune (60 beds). Another attraction within 25 minutes of the property is the Hammocks Beach State Park, a North Carolina State Park situation on Bear Island, a three mile long, undeveloped barrier island. The park's ideal location surrounded by barrier islands shields it from strong waves and makes the beach calm and gentle. Accordingly, the minimal wind provides for ideal swimming, boating, kayaking, and fishing conditions. The property is located on Marine Boulevard and US Route-17 Business, providing visitors to the hotel direct access to all major attractions within Jacksonville as well as major cities as far south as Orlando, Florida and as far north as Winchester, Virginia. Additionally, the hotel is just a few miles to US Route-258, a major north south thoroughfare running adjacent to North Carolina's coast. The hotel's proximity to major thoroughfares makes the property easily accessible. Marine Corps Camp Lejeune is located in southeastern North Carolina; the largest Marine Corps base on the East Coast, Camp Lejeune plays an important role in the Marine Corps expeditionary abilities Several training schools are housed at Camp Lejeune, including Camp Geiger, the Marine Corps School of Infantry, East and Camp Johnson, the Marine Corps Combat Service Support School. Marine Corps Base Camp Lejeune is home to more than 47,000 Marines and Sailors from around the world. Property showings are by appointment only. Contact broker for additional information.

Highlights

Four Story, 111-Unit, Absentee Ownership, Fee Simple Interest, Lounge, Bar & Banquet Space
Immediate Upside Available through a Clarion Pointe Conversion Opportunity
2.48 Acre Lot with Ample Space for Truck & RV Parking
Near Camp Lejeune, Camp Johnson, Camp Geiger and New River Air Station
Near Onslow Beach, Hammocks Beach State Park & Restaurants/Bars in Jacksonville, NC
Total Conference Room Space of 3,000 Square Feet

Public Transportation

AirportDriveWalkDistance
Albert J. Ellis Airport 26 min - 14.8 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Prashant Merchant 757-589-6954 Marcus & Millichap
Prashant Merchant 757-589-6954 Marcus & Millichap