Five-Story Hotel on 10.72
For Sale
Contact for pricing
2836 N LEE HWY, Lexington, VA 24450
Select-service hotel with value-add potential on expansive site.
Property Size50,020 SF
Lot Size10.72 Acres
Days on Market113
Property Features for 2836 N LEE HWY
General Information
Standard status
Active
Size
50,020 SF
Lot size
10.72 Acres
Property subtype
Hospitality
Building Details
Year Built
1975
Stories
5
Units
1
Listing Agency:
Colliers - Richmond, Virginia
(804) 441-7722
Listed By:
Luke McKown · License #0225266266
Source:
Crexi
Added: May 12
Changed: Aug 25
Last Checked: Aug 31 at 7:38AM
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 Colliers - Richmond, Virginia
Investment Insights
Based on property information with market context.
This is a fee simple interest in a five-story, interior corridor, select-service hotel situated on an expansive 10.72-acre site. The property benefits from visibility on Interstate-81, which sees a traffic volume of 47,640 vehicles per day. A full guestroom furniture refresh is underway, with all 100 rooms purchased, presenting a significant near-term value-add opportunity for the remaining guestroom installations. Recent facility enhancements include pool repainting in 2026 and elevator installations in 2022. The interior corridor structure supports a potential future up flagging conversion opportunity at the exit. The property includes vacant restaurant space on-site, offering the potential to lease-up and increase net operating income.
Key Highlights
- Expansive 10.72‑acre site with visibility on Interstate‑81 (47,640 VPD)
- Full guestroom furniture refresh underway (all 100 rooms purchased), significant near‑term value‑add
- Interior corridor structure supports a potential future up flagging conversion opportunity
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 24450, VA
17,654
Population
7,650
Households
2.3
Avg Household Size
37
Median Age
46%
College-Educated
94%
High-School Grad
220.0 sq mi
ZIP Area
80
Density / Sq Mi
$77,839
Median Household Income
$29,841
Median Earnings
$1,017
Median Rent
$294,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Select-service hotel with value-add potential on expansive site.
Where is this hotel located?
The property is located at 2836 N LEE HWY Lexington, VA.
What are key features of this property?
This property features: Expansive 10.72‑acre site with visibility on Interstate‑81 (47,640 VPD); Full guestroom furniture refresh underway (all 100 rooms purchased), significant near‑term value‑add; Interior corridor structure supports a potential future up flagging conversion opportunity
