Holiday Inn Express Boone — Sale in Boone, NC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Boone, NC 28607
  • Year built: 2001

Photos

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Investment Figures

Cap rate
6.22%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap have been exclusively retained to offer for sale the fee simple interest in the 129-room Holiday Inn Express located in Boone, North Carolina, in the heart of the Blue Ridge Mountains. The hotel is a five-story property built in 2001 that just underwent a PIP renovation that cost in excess of $3mm. A new owner will have the opportunity to continue capitalizing on the recent renovation by driving the hotel's ADR, which has historically been around $26 below the competitive set. Holiday Inn Express Boone provides the opportunity to acquire a core-branded IHG hotel with significant upside in a vibrant college town with diverse business drivers near the most visited National Park in the United States, Blue Ridge Parkway (16.7 million+ visitors in 2023). Investment Highlights: • Comprehensive Renovation Recently Completed • ADR +/- $10 Below the Competitive Set • Approximately One Mile to Appalachian State University • Located Near Blue Ridge Parkway, Historically the Most Visited National Park in the Country with over 16.7mm Annual Visitors • Proximate to Grandfather Mountain, Tweetsie Railroad, Watauga Medical Center, Samaritan's Purse, and More

Market Context

This hospitality in Boone, NC is listed for sale. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 2001. Compare it against other hospitality listings for sale in Boone, NC — view the full market.

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