Business Description
The property blends historic architectural character with modern luxury and has consistently outperformed its competitive set in both reputation and financial performance. The asset shows no deferred maintenance and continues to exhibit strong income stability and guest demand.
Situated within one of North Carolina’s most dynamic city centers, the hotel benefits from an exceptionally walkable environment surrounded by major corporate offices, cultural venues, entertainment destinations, and event spaces. This strategic location captures both business and leisure travelers, contributing to consistently high occupancy and strong ADR performance.
The surrounding market is one of the fastest-growing metropolitan areas in the Southeast, with billions in ongoing development, expanding corporate relocations, and a rising tourism profile. The hotel's placement at the core of this growth corridor ensures long-term demand and continued revenue upside.
Key Highlights
Four-Star Rating: The only hotel in its metropolitan area to receive this designation for the past two consecutive years, with a strong likelihood of renewal.
International Luxury Distinction: Recipient of a prestigious international hospitality “Key” recognition in both 2024 and 2025.
AAA Award: Ranked among the cleanest hotels in the United States with a perfect inspection score.
National Acclaim: Twice ranked among the Top 15 Hotels in the U.S. (all categories) by a major national travel review platform within the last five years.
Tenant Income & Upside Potential
The property includes two income-generating restaurant spaces producing approximately $467,000 in NOI.
One long-term restaurant tenant contributes roughly $218,000 annually with a stable flagship location.
The second restaurant tenant is on a short-term extension after missing its renewal window, creating a significant repositioning opportunity.
Ownership is in advanced discussions with a major national financial institution to assume this second space, a move expected to add approximately $70,000 in base rent annually. This potential lease enhances both tenant quality and long-term cash flow consistency.
Financial Summary
With a current TTM NOI of ~$3.3 million, a price range of $50–$55 million aligns with comparable transactions in strong-growth Southeastern markets. This valuation does not yet include projected rent increases or operational efficiencies, offering attractive day-one yield and meaningful scalability.
Notably, the current NOI has been achieved under ownership without extensive hospitality operational background—leaving clear, quantifiable value-add potential for a seasoned hotel operator to further optimize revenue management, streamline expenses, and execute targeted repositioning.
2024 NOI - $2.9m
