2400 Sterling StMorganton, NC 28655

Property Details for 2400 Sterling St

Year built

1968

Construction

WOOD FRAME

Lot size

5.34 AC

Property size (Sq ft)

12,320 SF

Zone code

HIGH INTENSITY DIST

Property type

Turn key restaurants

APN

31896

APU

31896

Description

This exceptional investment opportunity presents the Quality Inn Morganton, a 133-key hotel ideally situated at 2400 S Sterling St, Morganton, North Carolina, 28655, in Burke County. Built in 1968, this established property sits on a generous 5.34-acre lot, offering significant potential for expansion or redevelopment. The asking price for this turnkey hospitality asset is $4,675,000. The hotel's established presence in Morganton provides a strong foundation for continued success and profitability. Detailed financial information and operational data are available upon request. This property represents a compelling investment opportunity for experienced hospitality investors seeking a well-located, established hotel in a growing market. The substantial lot size provides ample room for future development or expansion, enhancing the long-term value proposition. This is a rare chance to acquire a significant hotel asset in a desirable North Carolina location. Further information can be obtained through the provided contact information. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $4,231,612

  6.5%

  $3,906,104

  7%

  $3,627,096

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,257,398

  Geo Method

  $5,257,398

• Alternative Use

  Use

  Valuation

  Residential

  $3,294,945

  Hospitality

  $3,018,152

  Educational

  $2,511,067

  Medical

  $2,597,426

  Retail

  $3,906,104

Location Insight

City

Morganton

County

Burke

State

North Carolina

Latitude

35.7201

Longitude

-81.6542

CBSA code

25860

CBSA name

HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].