4235 Market CtrKing George, VA 22485

Property Details for 4235 Market Ctr

Year built

2020

Lot size

1.51 AC

Property size (Sq ft)

30,780 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This exceptional 64-key My Place Hotel, built in 2020, presents a compelling investment opportunity in King George, Virginia. Boasting 30,780 square feet across three stories on a 1.51-acre lot, this stabilized hospitality asset commands an asking price of $8,750,000, translating to $284.28 per square foot and $136,718.75 per key. The property consistently achieves approximately 80% occupancy, generating a strong net operating income (NOI) of $935,000 and a compelling 10.69% cap rate. Its efficient, economy extended-stay model minimizes operational costs, offering significant upside potential for owner-operators or third-party management companies. Strategically located near primary retail development, the US Naval Surface Warfare Center, and Mary Washington University Dahlgren Campus, the hotel benefits from a diverse and growing market encompassing government business and tourism. The recent completion of the Nice Memorial Bridge further enhances accessibility, connecting the hotel to Northern Virginia, Maryland, and southern destinations including Norfolk and the Outer Banks. This turnkey operation offers a rare blend of strong performance and significant growth potential within a thriving market. The property is privately owned and features one building.

Location Insight

City

King George

County

King George

State

Virginia

Latitude

38.3522

Longitude

-77.053

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