Red Roof Inn Marion

Colliers, as an exclusive representative of the seller, is pleased to present to qualified investors the Red Roof Inn Marion, located at 1424 N Main St Marion, VA 24354. The subject property is a 48-room, two-story, exterior-corridor, limited-service asset. Built in 1965, it sits on 1.69 acres with direct exposure to Interstate 81 (30,000 Vehicles Per Day). The asset is offered with fee simple interest, unencumbered by debt, and unencumbered by third-party management.

The hotel is conveniently located in Marion, Virginia, a submarket of Wytheville, Virginia, which is equidistance from Greensboro, NC, Roanoke, VA, Charlotte NC, and the Bristol/Kingsport TN MSA. As the county seat of Smyth County, Marion serves as a central commercial and government hub. The hotel benefits from a diverse variety of demand generators. Leisure travel is strongly driven by nearby outdoor recreational offerings at Jefferson National Forest, Mount Rogers National Recreation Area, Hungry Mother State Park, numerous camping/hiking locations along the Appalachian Trail, and the highly popular "Back of the Dragon" scenic touring route. Additionally, consistent mid-week corporate demand is supported by regional healthcare facilities and a robust advanced manufacturing and defense sector, anchored by a major General Dynamics aerospace facility. Cultural tourism is further boosted by downtown attractions like the historic Lincoln Theatre, home to a nationally syndicated PBS television series.

The Red Roof Inn Marion belongs to a STR competitive set that includes the Motel 6 Chilhowie VA I-81, Travelodge by Wyndham Wytheville, Super 8 by Wyndham Wytheville, and Econo Lodge Marion I-81. While the subject asset maintains market-leading occupancy performance, historical NOI and profit margins have remained modest. Under out-of-state ownership, operational expenses, utilities, and payroll were not fully optimized, and ADR was kept below market potential, leaving substantial cash flow unrealized on the table. This historical performance gap provides an exceptional value-add opportunity for an incoming investor. A hands-on owner-operator can dramatically surpass past bottom-line results by implementing disciplined rate yields and eliminating unnecessary operating overhead. With current ownership having already completed key capital improvements, including spending approximately $100,000 in CapEx in recent years, combined with Red Roof Inn’s flexible franchise terms, a new owner is ideally positioned to push top-line revenues and capture significantly higher NOI margins than historically achieved.

The Red Roof Inn Marion represents a compelling opportunity to acquire a fee-simple, unencumbered limited-service hotel in a high-visibility Interstate 81 corridor location. An incoming buyer inherits a well-maintained physical asset with immediate operational runway to drive ADR, streamline operating costs, and dramatically expand bottom-line NOI beyond historical levels.

Available