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    2 Court St Luray, VA 22835

    Sponsored
    For Sale
    $2,650,000

    Historic Hotel, 12 Keys, High Returns

    Property size:
    11,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Embrace this exceptional investment opportunity: Hotel Laurance, a meticulously maintained 12-key hotel in Luray, Virginia. This charming, two-story building boasts 11,000 square feet on a 13,028 square foot lot, offering significant potential for revenue generation. Originally constructed in 1933 and extensively renovated in 2015, the property seamlessly blends historic charm with modern amenities. Each of the 12 rooms provides a unique and comfortable guest experience, ideal for the discerning traveler. The B1 zoning allows for flexible usage options, maximizing the property's potential. Located at 2 S Court St, Luray, VA 22835, this hotel benefits from its prime location within Page County, offering easy access to local attractions and a thriving tourism market. The property is offered for sale by owner at $2,650,000. Note that an additional lot on Main Street is available for separate purchase. This is a turnkey operation ready for immediate income generation. The property's strong historical character and recent renovations make it a compelling investment for those seeking a high-return hospitality asset in a desirable location. The APN is 42 A10 A.

    Property Features for 2 Court St

    General Information

    Property type
    Hotels
    Square Feet
    11,000 SF

    Building Details

    Year Built/Renovated
    1933/2015
    Buildings
    1
    Stories
    2

    HighLights

    • 11,000 SF building
    • 12 self‑service storage units maximizing revenue
    • 1933 construction with classic charm, renovated in 2015
    • B1 zoning allows diverse uses
    • Prime Charlottesville location
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Luray
    County
    Page
    State
    Virginia
    Longitude
    -78.4647403
    Latitude
    38.665375

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    FAQs

    What type of property is this?
    Hotel - Historic Hotel, 12 Keys, High Returns
    Where is this hotel located?
    The property is located at 2 Court St Luray, VA.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: 11,000 SF building; 12 self-service storage units maximizing revenue; 1933 construction with classic charm, renovated in 2015
    Request Owner's contact information
    2 Court St Luray, VA 22835
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    Luray, VA 22835
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2 Court St Luray, VA 22835
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