809 Venture Dr Smithfield, NC 27577-4773

Property Details for 809 Venture Dr

Year built

2013

Lot size

1.51 lot acres

Property size

47,716 SF

Zone code

SUP

Property type

Hotels

Property subtype

Motels

APN

15L11008N

APU

15L11008N

Description

This 89-key Fairfield Inn & Suites, built in 2013 and renovated in 2022, presents a compelling investment opportunity. Located at 809 Venture Dr, Smithfield, NC 27577, this four-story, 50,417 square foot hotel sits on a 1.51-acre lot and enjoys unparalleled visibility and accessibility due to its proximity to Interstate 95's exit 95 corridor (46,500 average daily traffic). The hotel benefits from its location near major demand generators, including Carolina Premium Outlets, UNC Health/Johnston Memorial Hospital, and Johnston Community College. Smithfield's position within the Raleigh Metropolitan Statistical Area (MSA), approximately 25 miles southeast of Raleigh, and its proximity to the Research Triangle, provides access to a large population base exceeding 2 million residents in the Raleigh-Durham-Cary combined statistical area. The property is offered below replacement cost, presenting significant upside potential through operational improvements and revenue management strategies. The hotel is currently unencumbered by a management company, allowing for operational control and flexibility in choosing a management partner. A potential 20-year franchise license with Marriott is possible with room renovations. There is an existing assumable non-recourse CMBS loan, offering buyers flexibility in financing options. Minimal capital expenditures are anticipated for the next owner due to recent renovations. This presents a unique opportunity to acquire a well-positioned hotel with substantial growth potential.

Location Insight

City

Smithfield

County

Johnston

State

North Carolina

Longitude

-78.3181

Latitude

35.5074

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments