6401 Maccorkle Ave Charleston, WV 25306

Property Details for 6401 Maccorkle Ave

Lot size

3.83 lot acres

Property type

Hotels

Property subtype

Motels

APN

20-09- 70-0011.0001

APU

20097000110001

Description

This exceptional investment opportunity presents a 77-key Knights Inn motel in Charleston, West Virginia, situated at 6401 MacCorkle Ave SE, 25306. The property, built in 1981, consists of three single-story buildings and boasts a compelling 12.06% capitalization rate, generating a net operating income (NOI) of $391,891 with a current occupancy rate of 54.15%. Offered at $3,250,000, this represents a price per key of $42,207.79. The property's prime location offers easy access to Charleston's downtown area and major interstates, making it highly attractive to travelers. Its size and operational model are ideally suited for owner-operators, minimizing management complexities. The asking price reflects a significant discount to replacement cost, further enhancing its investment appeal. Furthermore, the property is considered a strong candidate for Small Business Administration (SBA) financing, simplifying the acquisition process. Limited renovation costs are anticipated, allowing for a swift return on investment. This is a rare chance to acquire a well-positioned, established motel with significant upside potential. The property is privately owned.

Location Insight

City

Charleston

County

Kanawha

State

West Virginia

Longitude

-81.5643

Latitude

38.3042

CBSA code

16620

CBSA name

CHARLESTON, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments