4640 Murray Pl, Lynchburg, VA 24502

The Kabani Hotel Group, as an exclusive representative of the seller, is pleased to offer for sale the Courtyard Lynchburg, VA, and an adjacent hotel development site. The Courtyard is a 90-room, 3-story, interior corridor hotel, built in 1999, with a lot size of 2.15 acres. The adjacent hotel development site is a 1.56-acre lot. Plans are in place for a 101-room hotel development. Select service brands are available upon request from the listing agent.

Both the Courtyard and the adjacent development site are strategically positioned just off of U.S. Route 29, with convenient access to the Lynchburg Expressway. Some of the major demand drivers in the area include Liberty University (over 15,000 students enrolled on campus), the River Ridge Mall and surrounding retail corridor, Lynchburg Regional Airport (serving more than 150,000 passengers annually), and Centra Lynchburg General Hospital (a major regional healthcare hub with over 350 beds).

The current ownership has just completed the exterior PIP. Due to the lack of renovations over the past 3-5 years, this property has underperformed its potential within the comp set. Once the full PIP is completed by a new owner, this asset is expected to be one of the top performers in the comp set and should attain a $105+ RevPAR.