Description
RedRoof Hotel, Restaurant & Pool
PORTFOLIO OF TWO HOTELS FOR SALE (BUY 1 OR 2)
1. 48-Room Red Roof Inn by Red Roof Hotel
1424 N Main St, Marion, VA 24354
UNPRICED
~ Originally Built as a Holiday Inn with Spacious Guest Rooms ~
2. 32-Room Proposed HomeTowne Studios Extended Stay ( 2 Bedroom Owner’s Apartment Included)
1430 N Main St, Marion, VA 24354
Asking Price: $599,000
~SBA AND USDA LOAN AVAILABLE~
45 miles to Bristol, VA; 65 miles to Kingsport, TN; 100 miles to Roanoke, VA; 140 miles to Greensboro, NC; 150 miles to Charleston, WV; 155 miles to Knoxville, TN; 160 miles to Charlotte, NC; 190 miles to Durham, NC; 215 miles to Raleigh, NC.
Smyth County is within 45-min drive of the Tri-Cities MSA of Bristol, Kingsport and Johnson City.
HOTEL FOR SALE – Red Roof Inn franchised hotel in Marion, Virginia located right off of US 11 with easy access to I-81 and near Hungry Mother State Park, Scenic View Golf Course, Marion Plaza Shopping Center and Smyth County Community Hospital.
INVESTMENT HIGHLIGHTS
- SBA and USDA Loan Available. Call Madhur Gupta at 919 428 9840 for Hotel Loans.
- Buy Portfolio of 2 Hotels (80 Rooms) OR Red Roof Inn Hotel (48 Rooms) OR Closed/Vacant Hotel Building (32 Rooms). This listing is for the 48-Room Parcel only.
- Upside Revenue After Reopening of the Restaurant and Addition of Alcohol, Mini Casino Machines (if permissible by law), Fast Food, and Hall Rental for Recreation. (Preliminary Architectural Plan, Budget and Revenue Projections Available).
- Value Add Opportunity with Hands-On Owner Hotel Operator
- Popular and Growing Upscale Economy Franchise with Minimal PIP Requirements
PROPERTY SUMMARY
Red Roof Inn Marion: 1424 North Main Street, Marion, Virginia 24354
Rooms 48
Year Built: 1964
Year Renovated: 2020-2023
Hotel Site Size (Pending Subdivision): 1.595 acres
Building 1: 37,760 SF (48 Units – Red Roof Inn) (*This listing is for Building 1 only)
Building 2: 11,133 SF (32 Units – Vacant / Closed – Can be opened as an independent or a franchised property. (HomeTowne Studios by Red Roof Extended Stay Budget and Details Available)
Parking Spaces: 80-82 (Includes Both Parcels)
Stories: 2
Corridors: Exterior
Property Type Limited-service hotel
Interest: Fee simple
Zoning COMMERCIAL GENERAL
Amenities: Outdoor Pool, pet-friendly, free WiFi, complimentary coffee station in the lobby, a free expanded cable package, onsite business center, vending areas, +/- 870-square-foot meeting room, +/-5,100-square-foot restaurant with an annual rental income potential of $36,000 to $60,000. Currently closed but can be reopened with a partial grant from the local government. For more details, please call broker.
Red Roof Hotel, Restaurant & Pool
*This Listing is for the Red Roof Inn Parcel Only.
RESTAURANTS NEARBY
Mi Puerto (0.23 miles), Sonic Drive In (0.38 miles), McDonalds (0.47 miles), Subway (0.48 miles), Arbys (0.7 miles), Pizza Perfect on Main (0.96 miles), Macado’s (1.62 miles) and more.
DEMAND GENERATORS NEARBY
Historic Downtown Marion (1 mile); Smyth County Community Hospital (1 mile); Lincoln Theatre (1.8 miles); Hungry Mother State Park – beautiful woodlands, a sandy beach and 108-acre lake that’s perfect for some kayaking, zip-line tour, rock climbing, tubing and much more (3 miles); Hungry Mother Adventures – high flying adventure; Holston Hills Community Golf Course (4 miles); Mount Rogers National Recreation Area – camp, sight-see, fish, hike, swim and ride horses (9 miles); Settlers Museum of Southwest Virginia (9 miles); Park Place Drive In with an ice cream shop and mini golf (2.5 miles); Grayson Highlands State Park – hiking or horseback riding. *Distances are approximate.
HIT THE GREEN! GOLF IN MARION, VA!
Holston Hills Community Golf Course is a 300-acre site along the Holston River that also features a tennis facility and swimming pool. Just 4 miles away from the Red Roof Hotel. Holston Hills Golf Course is an 18 hole championship course built in 1946. The layout features a variety of holes that offer scenic views that will test all of your golfing skills. The Holston River meanders throughout the course and comes into play on several holes. VIEW COURSE TOUR
MARION VIRGINIA
Considered the county seat of Symth County, the Town of Marion is located on the middle fork of the Holson River on historic Route 11.
Video Credit: Southwest Virginia
- Marion is a town in and the county seat of Smyth County, Virginia, United States.
- Conveniently positioned upon Interstate 81, Marion is easily accessible. Located in the Blue Ridge portion of the Southern Appalachian mountains in Southwest Virginia, the general Marion area is well known for its scenic beauty. The town is named for American Revolutionary War officer Francis Marion. The town limits had a population of approximately 6,000, per 2020 Census estimates. However, an additional 9,000 residents in unincorporated Smyth County have Marion mailing addresses, giving the Marion, VA ZIP code (24354) a population of over 15,000, which is about half of the county’s total population.
- Marion is one of a few towns to be designated as an official Virginia Main Street Community and National Main Street Community. The Lincoln Theatre, a meticulously renovated Art-Deco Mayan Revival-style performing arts center in Marion, is the home of the nationally syndicated bluegrass music program Song of the Mountains. The General Francis Marion Hotel has been completely restored. It is a boutique hotel that has received an AAA Three-Diamond ranking. The town hosts a monthly ArtWalk with local artists and musicians, held on the second Friday of each month in May through December.
- Marion is known for being the birthplace of the soft drink Mountain Dew, but the original drink was created in Knoxville, Tennessee. Although Mountain Dew was first marketed under that name in Knoxville, the original soft drink’s formula changed drastically from Knoxville’s formula to the syrup mixture that constitutes today’s drink. In 1961, the rights to Mountain Dew were purchased by the Marion-based Tip Corporation. The Mountain Dew flavor was reworked by Marion resident William H. “Bill” Jones. Due to the success of the revised formulation, the Pepsi Corporation purchased the Tip Corporation in 1964. Marion also hosted the Mountain Dew Festival for more than 50 years.
- Marion, Virginia is notorious for being the location of two large side-by-side ground storage water tower tanks, which are separately labeled “HOT” (in red letters) and “COLD” (in blue). The landmarks, positioned just off of Marion exit 47, are visible to both north and south bound Interstate 81 traffic lanes.
- Marion is home to world renowned Hungry Mother State Park.
- Marion holds the state record low for the month of May at 15 degrees and the second lowest recorded April temperature in the state at 10.
- Marion is also located approximately halfway between Nashville and Washington, DC
- Back of the Dragon, which has quickly grown into one of the premier riding roads for motorcycles and sports cars in the nation, begins in Marion, Virginia, ending at the town of Tazewell, VA. The 32 mile route, which crosses 3 mountains, boasts approximately 435 curves, over 3,500 feet in elevation, and remarkably picturesque scenery.
- R. T. Greer and Company, Henderson Building, Hotel Lincoln, Hungry Mother State Park Historic District, Lincoln Theatre, Marion Historic District, Marion Male Academy, Norfolk & Western Railway Depot, Preston House, and the Abijah Thomas House are listed on the National Register of Historic Places.
SMYTH COUNTY
Smyth County was formed on February 23, 1832, from Washington and Wythe counties. Smyth County is located in the lower portion of the Great Valley of Western Virginia. Interstate 81 runs through the county’s central valley, and intersects with Interstate 77 approximately 25 miles northeast of the Town of Marion. Three towns are located in Smyth County: Marion (the county seat), Chilhowie, and Saltville. The county has three major valleys carved by the three forks of the Holston River, and a large portion of the county is located within the boundaries of a popular tourist destination, Mount Rogers National Recreation Area. Every year, thousands of visitors and county residents alike enjoy various attractions like the famous Blue Ridge Mountains, Hungry Mother State Park, Mount Rogers National Recreation Area.
Nestled in the heart of Southwest Virginia, along the I-81 corridor, Smyth County is located in scenic Southwestern Virginia in the foothills of the Appalachian Mountains and covers 452 square miles. Centrally located on the East Coast, this rural community is within a days drive of 2/3 of the U.S. population and a quick 45-minute drive of the Tri-Cities Metropolitan Area of Bristol, Kingsport and Johnson City, Tennessee with almost 500,000 persons. Because of its geographic location in the Appalachian Ridge and Valley Region, the county experiences four distinct and spectacularly beautiful seasons with moderate temperatures prevailing. Interstate 81, which bisects the county, provides easy access to I-77, I-26, and I-64.
Smyth County is proud to boast a low cost of doing business. Businesses who call this area home draw their employees from a skilled, hard-working labor pool while simultaneously benefiting from low worker’s compensation outlays, unemployment tax burdens, utility costs, and building costs that are substantially lower than state and national averages.
AREA RECREATION
Southwest Virginia experiences moderate climates making recreation possible year-round. Just a few miles away, Damascus, Virginia– more commonly known as “Trail Town USA” provides some of the best hikes in the east, accessing the Appalachian Trail and the neighboring Jefferson and Cherokee National Forests. Combined you have access to more than 250,000 acres of unspoiled woodlands and endless outdoor activities. The 35 mile Virginia Creeper Trail runs from Whitetop Mountain to Abingdon, Virginia on a Rails to Trails sponsored cyclist dream. Beech Mountain, Sugar Mountain and Winterplace resorts are just a short drive away. Gentle flowing rivers such as the Holston, Clinch and Watauga offer at water kayaking opportunities and the nearby Nolichucky river is said to be one of the most technical big water runs in the south, and one of the top 10 whitewater experiences in the country. World class fly fishing, the Spearhead trail systems for off-road vehicles, boating and water sports at 4 nearby TVA recreational lakes are an outdoor paradise for every kind of adventure seeker.
MARION VIRGINIA ECONOMIC DEVELOPMENT
$3.4 million proposed outdoor recreation park in Marion got a major push forward thanks to the infusion of a $1.7 million federal grant. The money will be used to develop Callan Drive Recreational Park, a nature-based recreational green space and outdoor recreation in the center of town, providing an asset sorely needed by the town of Marion. The park will feature two softball fields, three soccer fields, a playground with picnic tables and benches, and more than 3,100 linear feet of five-foot wide walking trails. Plans call for an amphitheater to be developed in the former rock quarry, forming a natural outdoor theater.
Listing By: Bang Realty, Inc and M Hotels, LLC
Call Madhur Gupta at (919) 428 9840 for Hotels for Sale and Hotel Loans.
એમ હોટેલ્સ સાથે હોટલ અને હોટલ લોન બંને મેળવો. એમ હોટેલ્સ સાથે વેચાણ કરીને 50% કમિશન સુધી બચાવો. એમ હોટેલ્સ” સાથે જાહેરાત વિના ગુપ્ત વેચાણ કરો.
*CONFIDENTIAL SALE. Do not call or visit the property without an appointment. All appointments, questions, offers and offer negotiations to go through broker.
Information in this listing has been provided by reliable third parties, but is not guaranteed and is subject to change without notice. Buyers must independently verify this information for accuracy or completeness.
CONTACT: For access to more exclusive listings, confidential non-listed hotels for sale, and hotel loans, call Madhur Gupta at (919) 428-9840.
