Marcus & Millichap is pleased to offer the opportunity to acquire the Country Inn & Suites in Rock Hill, South Carolina. The Country Inn & Suites is a 3 story, 43 room interior corridor hotel located directly off Interstate 77 with strong visibility and high traffic counts. The subject property has recently undergone a major renovation in 2018-19 and is being offered with a minimal change of ownership PIP with significant upside in potential topline growth moving forward.
The hotel is 3 miles from Winthrop University, 10 miles from Carowinds’s Amusement Park, and 20 miles from Downtown Charlotte, which is home to the Carolina Panther, the Charlotte Hornets, the Nascar Hall of Fame, and six fortune 500 companies. Rock Hill South Carolina is located in York County, the north-central area of South Carolina, approximately 20 miles south of Charlotte along the I-77 corridor. Rock Hill has advantageous tax laws, award-winning employee training programs and lucrative incentives that make it easy for business to grow and prosper. Major businesses currently located in York County include Shutterfly Inc., Bluestar Silicones USA Corp., Domtar, Atotech USA, Inc., Velux America, Inc., and Spring Global USA.
Recently, the state of South Carolina announced they will give the Carolina Panthers a $115 million state tax discount for moving their headquarters and practice facilities to Rock Hill. The Panthers are now expected to purchase up to 200 acres of land in Rock Hill (Reportedly between Dave Lyle Boulevard and Eden Terrace), and break ground later this year on a massive new complex. As part of the deal, the Panthers will be allowed to keep nearly all of its employees’ state income taxes, putting that money towards building their new facilities instead. The team plans to move into their new home by early 2022 but will still play their home games over that state line at Bank of America Stadium in Charlotte, North Carolina.