2848 Bragg BlvdFayetteville, NC 28303

Property Details for 2848 Bragg Blvd

Year built

1960

Lot size

1.47 AC

Property size (Sq ft)

9,600 SF

Zone code

CC

Property type

Hotels

APN

0428-12-7007

APU

428127007

Description

This 63-key motel in Fayetteville, North Carolina presents a compelling investment opportunity. The property, situated at 2848 Bragg Blvd, boasts 27,728 square feet across three, two-story buildings, built in 1963 and renovated in 2022. It includes 63 parking spaces. Currently operating with staff only, the motel offers significant upside potential for an owner-operator. The absence of a third-shift desk represents a clear opportunity to increase revenue. An owner-operator could enhance profitability by overseeing daily operations and implementing improvements. The asking price is $2,550,000. This is an excellent opportunity for an owner-operator or investor seeking a hands-on approach or someone with management in place. The property is currently operating under the Knights Inn brand, but there's potential to switch to another brand. Please schedule an appointment before visiting to avoid disturbing staff and motel operations.

• CAP approach

  CAP return

  Valuation

  6%

  $2,692,638

  6.5%

  $2,485,512

  7%

  $2,307,976

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,808,449

  Geo Method

  $5,178,422

• Alternative Use

  Use

  Valuation

  Residential

  $2,713,458

  Hospitality

  $2,485,512

  Educational

  $2,067,917

  Medical

  $2,139,036

  Retail

  $3,216,760

Location Insight

City

Fayetteville

County

Cumberland

State

North Carolina

Latitude

35.0746

Longitude

-78.9274

CBSA code

22180

CBSA name

FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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