Marcus & Millichap Publicizes Sale of Comfort Suites Hotel Near Raleigh-Durham Airport
CARY, North Carolina—Marcus & Millichap offered the sale of a 122-room Comfort Suites in Cary, North Carolina.
“We ran a aggressive process and identified a neighborhood developer planning to convert the property into an prolonged-live Hilton asset,” acknowledged Jack Davis, senior managing director, investments. “The property equipped for extra than 4.5 situations earnings on a pre-PIP foundation and at a cap fee below eight percent.”
Davis, alongside with Marcus & Millichap’s Eric Webster, Joce Messinger, and Bolt Dewese, represented the personal seller.
The property is situated terminate to Interstate 40 and within five miles of Raleigh-Durham Global Airport. The five-memoir resort used to be in-built 1999 and renovated in 2019. Amenities consist of complimentary breakfast, an indoor heated pool, sanatorium, commercial center, assembly condominium, and visitor laundry.
The resort is terminate to Research Triangle Park and several other main employers, including SAS Institute and Narrative Games, and is within riding distance of Duke College, the College of North Carolina at Chapel Hill, and North Carolina Bid College.
