Marcus & Millichap is pleased to offer the opportunity to acquire the 40-unit Baymont Inn located directly off Interstate-95 in the heart of Roanoke Rapids, North Carolina. The Subject property is currently owned by an absentee owner and offers significant upside for a hands-on operator to complete the new ownership PIP and improve revenues through increasing rate and maintaining current occupancy. As previously mentioned, the property is well maintained but Wyndham will require a minor renovation if a new investor choses to keep the current franchise. The property is located within walking distance to all major demand generators and restaurants in the region including the nearby Halifax Regional Medical Center . The subject property rests on 1.65 acres and has land for a future retail/office development. Currently the hotel ranks #8 of 8 hotels on TripAdvisor and achieves 3 stars.
The Baymont Inn has historical revenues between $595,000 and $650,000 over the past 4 years. This asset is expected to stabilize with a new hands-on operator between $600,000 to $650,000 once the PIP is completed. Currently the market is achieving nearly a $40 RevPAR, while the Baymont achieves a $36 RevPAR and captures only 80% market share.
The Baymont Inn & Suites features a seasonal outdoor swimming pool, a 24-hour Business Center with printing, fax, and copy capabilities. The property also has daily complimentary hot breakfast and a fitness center. Free high-speed internet in all rooms and self parking are also provided. Other amenities include housekeeping, laundry, and wake up call services.
Rooms provided conveniences such as a refrigerator, microwave, flat-screen television, premium channels, and free Wi-Fi. The rooms also include a coffee maker, iPod docking station with clock radio, free local calls, and in-room heating and A/C controls.
Baymont Inn & Suites is a hotel franchise owned by Wyndham Hotels & Resorts and based in the United States. As of December 31, 2018, it has 513 properties with 40,541 rooms.