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Loyalty Inn (Charlotte Express Inn)

Hospitality | 153 Keys

Listing Contacts

Active

Asking Price: $11,000,000
Address 

1240 Lucky Penny St, Charlotte, NC 28208

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Date Added
Sep 15, 2023
Days on Market
586 days
Time Since Last Update
48 days

Details

Property TypeHospitality
SubtypeHotel
Investment TypeValue Add
Square Footage62,076
Price/Sq Ft$177.20
Occupancy98%
Keys153
Year Built1973
Year Renovated2024
Buildings4
Stories2
ZoningB2
Lot Size (acres)4.85
APN063-043-01 Block-3
OwnershipFee Simple
IntelligenceINTELLIGENCE
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Marketing Description

Loyalty Inn, Charlotte, NC being offered for sale.​ The property now has 4 buildings with a total of 153 units on 4.85 acres.​ At this time 103 units have been approved for multi family studios.​ The exterior corridor property sits off I-85, is two story and was built in 1973.​ Multiple large 312+ SF rooms  and suites, provide opportunity to add full kitchenettes.​ Amenities include a 250 SF meeting room, guest laundry room and outdoor pool.​ Most rooms have recently been updated with new LVP flooring, fresh paint, updated plumbing, new PTAC units and furniture.​ New exterior LED lighting and DVR camera system has been installed.​  Management is currently offering daily and weekly rates.​ High demand in the area promises continued opportunity for growth and profitability.​ Charlotte is one of the fastest-growing cities in the United States, with it’s strategic location on the East Coast, a hub for transportation and logistics.​ The city has a well-developed infrastructure, including major highways, railroads, and the Charlotte Douglas International Airport, one of the busiest airports in the country, just 4 miles from the property.​ It’s robust and diverse economy is driven by sectors such as finance, healthcare, energy, and technology.​ It is the second-largest banking center in the U.​S.​, home to major financial institutions like Bank of America and Wells Fargo.​ Charlotte boasts a highly educated and skilled workforce, thanks in part to the presence of several universities and colleges, including the University of North Carolina at Charlotte.​

Investment Highlights

  • Now 153 rooms

  • Exterior Corridor

  • Off I-85 exit 34

  • Outdoor pool

  • Large 312 SF rooms (some larger)

  • 4 miles from Aviation Museum

  • 4 miles from Truist Field

  • 4 miles from Convention Center

  • 4 miles from Charlotte Douglas International Airport

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Due Diligence

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Listing Contacts


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Additional Information
Broker Name
Charlotte Jones
Broker License
NC NC LC904
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