Off Market Hotel For Sale In Downtown West Virginia
Hospitality | 203 Keys | $19,704/key
Marketing description
Exclusive Opportunity: Restore a Piece of American History
Step into a rare chance to own one of West Virginia’s most iconic landmarks—The Hotel, a 19th-century architectural treasure with presidential pedigree. This 7-story, 172,295 sq ft historic gem sits on 0.68 acres in downtown Wheeling, offering 173 hotel rooms + 30 apartments, an 8,000 sq ft ballroom, and 220 parking spaces.
Why Invest?
✔ Deeply Discounted Entry: Acquire for just $4.5M (+ $3M estimated renovation)—a fraction of replacement cost.
✔ Unmatched Historical Value: Opened in 1852, hosted 11 U.S. Presidents—perfect for heritage tourism & boutique branding.
✔ Prime Location: Heart of Wheeling, minutes from Ohio/PA, with strong business & leisure demand.
✔ Massive Upside: Convert to luxury hotel, mixed-use, or event venue—C6 zoning (verify) allows flexibility.
The Vision
Revive a Legend: Restore its Gilded Age grandeur as a 4-star historic hotel or luxury apartments.
Cash Flow Potential: Projected 6-8% cap rate post-renovation (est. $750K+ NOI).
Tax Incentives: Likely eligible for historic tax credits & grants.
Act Fast – Unique Challenges = Unique Opportunity
Currently vacant & condemned (needs plumbing/electrical overhaul).
Ideal for experienced developers or hospitality groups seeking a high-impact project.
Seize This Legacy Asset!
Contact us today to tour (virtually) and explore redevelopment plans, financing, and incentives.
"The isn’t just a building—it’s a landmark waiting for its next chapter."
Disclaimer: Financials are estimates. Due diligence recommended.
Investment highlights
1. Historic Legacy at a Discounted Price
Asking Price: $4.5M (fraction of replacement cost) + $3M estimated renovation = $7.5M total investment.
Built in 1852, hosted 11 U.S. Presidents—unique potential for boutique branding & heritage tourism.
2. Prime Downtown Wheeling Location
0.68-acre lot in the heart of Wheeling, minutes from Ohio & Pennsylvania.
172,295 sq ft, 7-story building with 220 parking spaces—rare urban footprint.
3. Flexible Redevelopment Opportunity
Current Structure: 173 hotel rooms + 30 apartments (ideal for mixed-use conversion).
Zoning Potential: Likely mixed-use/commercial (verify for hotel/residential).
Repositioning Options:
Luxury historic hotel
Boutique apartments
Event venue (8,000 sq ft ballroom)
4. Strong Financial Upside
Projected Post-Renovation NOI: $750K+ (est. 6-8% cap rate).
Revenue Streams: Room rentals, event space, retail/restaurant leases.
Incentives: Likely eligible for historic tax credits, grants, or Opportunity Zone benefits.
5. Market Demand & Scarcity
No comparable historic hotels in Wheeling—first-mover advantage.
Growing tourism & business travel in the region.
6. Value-Add Potential
Currently vacant & condemned (plumbing/electrical needs)—ideal for experienced developers.
Low acquisition cost allows for aggressive ROI after renovation.
Who Should Invest?
Hospitality groups seeking a unique historic asset.
Developers specializing in adaptive reuse.
Opportunity Zone funds targeting undervalued properties.
Event space operators capitalizing on the grand ballroom.
🚀 Next Steps:
Feasibility study for renovation costs.
Explore tax incentives & financing.
Repositioning plan (hotel, residential, or hybrid).
"The Hotel isn’t just a building—it’s a legacy investment with storytelling potential."
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