99-Room
For Sale
$6,195,000
4904 Reagan Drive, Charlotte, NC 28206
The established lodging property occupies an approximately 1.81-acre site in Charlotte.
Property Size1,987 SF
Lot Size1.81 Acres
Price / SF$118.05
Days on Market12
Property Features for 4904 Reagan Drive
General Information
Standard status
Active
Size
1,987 SF
Lot size
1.81 Acres
Property subtype
Hotel/Motel
Site & Location
Neighborhood
North Inner
Highway Access
Yes
Amenities
Level, Paved
Public Sewer
Additional parcels description:, Parcel Number: 087-071-44, Assessed Value: $3.8106e+06
Listing ID: CAR4435534, Standard Status: Active, MLS Status: Active, Property Subtype: Hotel/Motel, 1 day on market, Special Conditions: Third Party Approval
123 total parking spaces, Other Parking: Parking Lot
Built in 1987, Living area: 52479, Construction Materials: Hard Stucco
County/Parish: Mecklenburg
Cable Available, Electricity Connected, Water Source: City
Slab
Frontage Type: 4 Lane Highway, City Street, Interstate 1 mile or Less, Interstate, Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
1,987 SF
Year Built
1987
Listing Agency:
Keller Williams South Park
(704) 602-0400
Listed By:
Joey Portnova
(704) 773-5126
Source:
Blackstreaminternational
Added: Oct 19
Changed: Oct 29
Last Checked: Oct 28 at 3:58PM
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 Keller Williams South Park
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Investment Insights
Based on property information with market context.
This 99-room hotel sits on approximately 1.81 acres at 4904 Reagan Drive in Charlotte. Built in 1987, the property has an established hospitality use and a substantial guest-room inventory.
The site is near major highways, Charlotte Douglas International Airport, Uptown Charlotte, and the city’s business and entertainment districts.
The site is near major highways, Charlotte Douglas International Airport, Uptown Charlotte, and the city’s business and entertainment districts.
Key Highlights
- 99 guest rooms
- Approximately 1.81‑acre site
- Built in 1987
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,090
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,881,800
$4.9M
Cap Rate 7%
$3,487,000
$3.5M
Cap Rate 9%
$2,712,111
$2.7M
Market Conditions
NOI Build-Up for 52,479 SF
Gross rent
$755.7K $14.40/SF
− Vacancy
−$241.8K −$4.61/SF
EGI
$513.9K $9.79/SF
− OpEx
−$269.8K −$5.14/SF
NOI
$244.1K $4.65/SF
Area
Charlotte, NC
Vacancy
32.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,881,800
Cap Rate 7%
$3,487,000
Cap Rate 9%
$2,712,111
Alternative Uses
Best Use
Hotel Hospitality
$3.49M
$3.05M – $4.07M
NOI $244,090 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.48M
$15.29M – $20.39M
NOI $1,223,293 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 28206, NC
14,053
Population
7,094
Households
2
Avg Household Size
33
Median Age
32%
College-Educated
83%
High-School Grad
7.0 sq mi
ZIP Area
2,008
Density / Sq Mi
$51,456
Median Household Income
$42,186
Median Earnings
$1,225
Median Rent
$239,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - The established lodging property occupies an approximately 1.81-acre site in Charlotte.
Where is this hotel located?
The property is located at 4904 Reagan Drive Charlotte, NC.
What is the asking price?
The asking price for this property is $6,195,000.
What are key features of this property?
This property features: 99 guest rooms; Approximately 1.81‑acre site; Built in 1987
