10234 Orby Cantrell HwyPound, VA 24279

Property Details for 10234 Orby Cantrell Hwy

Year built

1980

Construction

WOOD

Lot size

4.27 AC

Property size (Sq ft)

690 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

R035191

APU

R035191

Description

This established 29-room motel in Pound, Virginia, presents a compelling investment opportunity. Situated on a 4.27-acre lot, the property boasts 40 parking spaces, catering to both short-term and extended-stay guests. While the rooms are described as cozy, they are not currently well-maintained, presenting a chance for renovation and increased profitability. The motel's convenient location near local attractions, shopping, and outdoor recreational areas ensures a steady stream of potential guests. The existing infrastructure provides a solid foundation for a successful hospitality business. With 20,000 square feet of building space, there's ample room for expansion or repurposing. The property's welcoming atmosphere and established clientele offer immediate revenue potential. This is an exceptional opportunity for an investor seeking to capitalize on the growing tourism sector in the region or to develop a unique hospitality venture. The asking price is $350,000. This represents a significant opportunity to acquire a substantial property in a desirable location with potential for significant return on investment. The property's size and location make it suitable for a variety of uses, beyond its current function as a motel.

• CAP approach

  CAP return

  Valuation

  6%

  $134,465

  6.5%

  $124,121

  7%

  $115,255

• Comparable approach

  Method

  Valuation

  Relative Method

  $137,832

  Geo Method

  $133,498

• Alternative Use

  Use

  Valuation

  Residential

  $135,504

  Hospitality

  $124,121

  Educational

  $103,267

  Medical

  $106,819

  Retail

  $160,638

Location Insight

City

Pound

County

Wise

State

Virginia

Latitude

37.0949

Longitude

-82.5992

CBSA code

13720

CBSA name

BIG STONE GAP, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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