With 3 hotels for sale in Roanoke, investors have a wide range of opportunities to tap into the city's growing hospitality industry. Hotels in Roanoke offer a unique blend of comfort, convenience, and scenic beauty, making them an attractive investment option. As a hub for outdoor enthusiasts, Roanoke's hotels cater to visitors drawn to the city's proximity to the Blue Ridge Mountains and the Roanoke River. With amenities like the Roanoke Star, Mill Mountain, and Carvins Cove, hotels in Roanoke offer guests a chance to experience the city's natural charm. Additionally, the city's strong economy, driven by major employers like Carilion Clinic and Norfolk Southern Railway, ensures a steady stream of business travelers. Roanoke's hotels are well-positioned to capitalize on the city's growing reputation as a cultural and recreational destination, with attractions like the Taubman Museum of Art, the Science Museum of Western Virginia, and the Virginia Museum of Transportation.
Roanoke's hotels are part of a larger landscape of commercial properties, including restaurants, apartment buildings, and shopping centers. The city's restaurants, like those in the Grandin Village, offer a diverse range of cuisines and dining experiences. Apartment buildings in Roanoke, such as those in the Downtown neighborhood, provide residents with easy access to the city's amenities and attractions. Shopping centers, like those along U.S. Route 460, offer a convenient shopping experience for locals and visitors alike. With its unique blend of natural beauty, cultural attractions, and economic vitality, Roanoke is an attractive destination for investors looking to tap into the city's growing hospitality industry. The city's hotels, restaurants, apartment buildings, and shopping centers all contribute to a thriving commercial landscape that is ripe for investment.
What factors should I consider when buying a hotel in Roanoke?
When considering buying a hotel in Roanoke, there are several key factors to keep in mind, including:
- The local economy, which is driven by industries such as utilities, healthcare, and arts and culture, and is home to major employers like Carilion Clinic and Norfolk Southern Railway.
- The city's infrastructure, which includes transportation hubs like the Roanoke-Blacksburg Regional Airport and major highways like Interstate 581 and U.S. Route 220, as well as amenities like the Taubman Museum of Art and the Science Museum of Western Virginia.
- The current market conditions, with 3 available listings of hotels, an average price per square foot of $190 USD, and an average cap rate of , as well as the average size of hotels in the area, which is 30,466 square feet, with the largest being 79,290 square feet.
It's also important to consider financing options, such as CRE loans, which can provide the necessary funding to complete a hotel purchase. For more information on CRE loans, check out our article at commercial real estate loans.
How is the value of a hotel for sale typically calculated?
When evaluating a hotel for sale in Roanoke, the value is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the property's income-generating potential, local market conditions, and the overall condition of the hotel. To learn more about the CRE appraisal process and how it affects the value of a hotel, check out our article at CRE appraisals, which provides an in-depth look at the methods and considerations involved in determining a hotel's value.
