Marcus & Millichap is pleased to offer for sale a fee-simple interest in the 73-key, EconoLodge Cherry Point located in Havelock, North Carolina. This well-appointed hotel was constructed in 1978 and is being offered well below replacement costs with the ability to retain the current franchise. The recently renovated guest rooms provide complimentary Wi-Fi and HDTVs, plus minifridges, microwaves, hair dryers, ironing boards and coffeemakers. Parking is complimentary, and there’s also an outdoor seasonal pool available. The subject property is a 2-story interior corridor property located directly off Highway 70 in the coastal region of North Carolina, more commonly referred to as the “Outer Banks.” The property has been completely renovated in throughout 2019 and 2020 and is being offered with a minimal property improvement plan. The EconoLodge was formerly a long-term Days Inn and became an EconoLodge branded property in May of 2020. The renovations included all new case-goods, carpet, wall coverings, bedding and new lobby. This property is offered unencumbered of debt and management with the ability to retain the current franchise long-term.
Havelock’s hotel demand generators stem from leisure travelers as well as visitors of the United States Marine Corps Air Station. This property is an excellent opportunity for an owner/operator to purchase a recently renovated, popularly franchised hotel below replacement costs. Situated in eastern North Carolina, Havelock is where Southern hospitality meets diversity. The city lies between the history-rich city of New Bern and the protected beaches of the Crystal Coast, so it is a blend of history, natural sights, and outdoor activities. Havelock is full of activities and things to do for both locals and visitors, The EconoLodge is located within the Croatan National Forest. The forest is suitable for hiking, camping, hunting, trail biking, and all-terrain vehicles. The surrounding rivers, inland lakes, and creeks allow for swimming, fishing, boating, and canoeing. Tourist attractions in close-proximity to the hotel include North Carolina Aquarium at Pine Knoll Shores, Lake Road Winery, Cherry Point Marine Corps Air Station, Carteret General Hospital, CarolinaEast Medical Center, Tryon Palace Historical Site & Gardens, Fort Macon State Park, Cape Lookout National Seashore, Havelock Tourist and Event Center, several quality golf courses and the many beaches and isles that make up the Outer Banks region.