1695 Outlet Ctr Dr, Selma, NC 27576-3452
- Hotels
- 42,888 SF
- 1.98 lot acres
Current Use by Public Records
- Tesla Destination Charger / Electric Vehicle Charging Station
- La Quinta Inn / Hotel & Motel
- La Quinta Inn & Suites by Wyndham Selma/Smithfield I-95 / Hotel & Motel
Property Details for 1695 Outlet Ctr Dr
- Year built
- 1997
- Lot size
- 1.98 lot acres
- Zone code
- COM
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 14074199J
- APU
- 14074199J
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 4, 2025 | $6,000,000 | Shubh Laxmi LLC | Jay Sai Corporation | Special Warranty Deed | $2.8M · Gbank |
| Jul 9, 2020 | $4,800,000 | Jay Sai Corp | Selma Hotel Investors LLC | Warranty Deed | $4.5M · Bank Of George |
| Jun 2, 2008 | — | Selma Hotel Investors LLC | Owner Name Unavailable | Grant Deed · related | — |
Description
This fee-simple, 75-key La Quinta Inn & Suites offers a unique investment opportunity. Located at 1695 Outlet Center Dr, Selma, NC 27576, this four-story, 42,888 square foot hotel sits on a 1.98-acre lot with excellent visibility from I-95 (44,000 vehicles per day), Highway 70 (18,000 vehicles per day), and Outlet Center Dr (10,000 vehicles per day). Its prime location is just 1.5 miles from the Carolina Premium Outlets, a major shopping destination. Originally built in 1998 and fully renovated in 2021 to the newest Wyndham prototype, this property boasts a fresh, modern design throughout. Renovations included a complete exterior façade update, lobby, market, breakfast area, corridors, fitness center, and all guest rooms and bathrooms. The 20-year franchise agreement extends to 2040. While recent renovations have improved the hotel, operational challenges have resulted in below-market RevPAR performance compared to competitors. However, this presents a significant opportunity for a new operator to leverage the superior quality of the recently renovated asset to increase profitability. Historical revenues have ranged from approximately $1,500,000 to $1,700,000, with previous years' NOI exceeding $700,000. Projected 2025 revenue and NOI indicate strong cash flow potential for a prospective buyer. The property is offered unencumbered by management, with minimal to no PIP required for the incoming purchaser.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,690,000
- ML approach
- $6,075,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,480,000
- 6.5%
- $4,135,000
- 7%
- $3,840,000
-
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $8,170,000
- COMMERCIAL (GENERAL)
- $4,320,000
- MEDICAL BUILDING
- $3,765,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Selma
- County
- Johnston
- State
- North Carolina
- Longitude
- -78.2954
- Latitude
- 35.5178
- CBSA code
- 39580
- CBSA name
- RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
