Days Inn Asheville
For Sale
Contact for pricing
2551 Smokey Park Hwy, Candler, NC 28715
112-room hotel in Candler, North Carolina, for sale.
Property Size39,865 SF
Price / SF$119.15
Days on Market150
Property Features for 2551 Smokey Park Hwy
General Information
Standard status
Active
Size
39,865 SF
Property subtype
Hospitality
Zoning
OU, Open Use
Building Details
Year Built
1972
Year Renovated
2005
Buildings
1
Stories
3
Listing Agency:
Cushman & Wakefield - Boca Raton, Florida
Listed By:
David Greenberg · License #FL SL3140783
Source:
Crexi
Added: Mar 19
Changed: Aug 14
Last Checked: Aug 14 at 5:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Boca Raton, Florida
Investment Insights
Based on property information with market context.
The Days Inn by Wyndham Asheville West is a 112-room, limited-service hotel located in Candler, North Carolina. This three-story property is strategically positioned along Interstate-40 within the Asheville MSA, offering immediate interstate visibility and convenient access to downtown Asheville, the Biltmore Estate, and the Blue Ridge Parkway. The hotel is well-positioned to capture demand from leisure travelers, outdoor recreation visitors, group and tour business, and transient interstate traffic. This property offers investors the opportunity to acquire a 112-room hotel in a growing market with upside potential. The property size is 39865 square feet.
Key Highlights
- Located in the high‑demand Asheville MSA with immediate Interstate‑40 visibility.
- Convenient access to downtown Asheville, Biltmore Estate, and Blue Ridge Parkway.
- 112‑room Days Inn by Wyndham.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$241,432
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,828,640
$4.8M
Cap Rate 7%
$3,449,029
$3.4M
Cap Rate 9%
$2,682,578
$2.7M
Market Conditions
NOI Build-Up for 39,865 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$598.0K $15.00/SF
− Vacancy
−$89.7K −$2.25/SF
EGI
$508.3K $12.75/SF
− OpEx
−$266.8K −$6.69/SF
NOI
$241.4K $6.06/SF
Area
Buncombe County, NC
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,828,640
Cap Rate 7%
$3,449,029
Cap Rate 9%
$2,682,578
Alternative Uses
Best Use
Hotel Hospitality
$3.45M
$3.02M – $4.02M
NOI $241,432 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.61M
$11.03M – $14.71M
NOI $882,408 @ 7.0% cap · market cap 18.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 28715, NC
27,810
Population
12,519
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
78.1 sq mi
ZIP Area
356
Density / Sq Mi
$70,950
Median Household Income
$38,620
Median Earnings
$1,208
Median Rent
$291,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - 112-room hotel in Candler, North Carolina, for sale.
Where is this hotel located?
The property is located at 2551 Smokey Park Hwy Candler, NC.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Located in the high‑demand Asheville MSA with **immediate Interstate‑40 visibility**.; Convenient access to downtown Asheville, Biltmore Estate, and Blue Ridge Parkway.; 112‑room Days Inn by Wyndham.
