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Rocky Mount NC Conversion Opportunity 1340 N Wesleyan Blvd 151 Room Hotel Rocky Mount, NC 27804 $9,859,430 CAD ($65,294 CAD/Room)
Investment Highlights
- Hotel Conversion Opportunity: 151-key hotel (41 rooms w/ kitchenettes + 110 standard rooms) with a defined path to 151 multifamily units.
- ~$70K All-In Basis: Illustrative acquisition and conversion basis of ~$70,000 per unit, meaningfully below new construction cost.
- Rocky Mount Employment Base: Anchored by Pfizer, Cummins Rocky Mount Engine Plant, Nash UNC Health, and QVC.
- Cost & Timeline Advantages: Recent renovations, sprinklered systems, and in-place plumbing/electrical reduce conversion scope.
- Wesleyan Blvd Corridor: On Rocky Mount’s primary commercial corridor with retail, services, and I-95 access.
- I-95 Regional Access: Direct I-95 access connecting Rocky Mount to Raleigh, Richmond, Norfolk, and Eastern NC.
Executive Summary
Marcus & Millichap is pleased to present the Rocky Mount NC Conversion Opportunity, a 151-key hotel property located on Wesleyan Blvd in Rocky Mount, North Carolina, offering a compelling hotel-to-multifamily conversion opportunity. Originally built as a hotel in 1987 and renovated in 2023 to Days Inn Standards, the property currently operates as a Days Inn and includes 110 standard hotel rooms and 41 rooms with kitchenettes.
Hotel-to-multifamily conversions have emerged as a favored value-add strategy, offering meaningful cost and timeline advantages versus new construction. The property’s recently renovated rooms, existing sprinklered fire protection, individually served plumbing and electrical, elevator systems, and building envelope provide an efficient conversion basis, translating one-to-one from 151 hotel keys to 151 multifamily units. An illustrative all-in basis of approximately $70,000 per unit, inclusive of acquisition and conversion capex, positions the opportunity meaningfully below prevailing new construction costs for comparable multifamily product in Eastern North Carolina.
The Rocky Mount NC Conversion Opportunity sits on Rocky Mount’s primary commercial corridor, providing direct access to retail, services, and I-95. Rocky Mount anchors a diversified Eastern North Carolina economy along the I-95 corridor, home to major employers including Pfizer, Cummins Rocky Mount Engine Plant, Nash UNC Health, and QVC. The market sits roughly one hour northeast of Raleigh and benefits from direct I-95 access to Richmond, Norfolk, and other major East Coast metros, supporting steady rental demand across the region.
Hotel-to-multifamily conversions have emerged as a favored value-add strategy, offering meaningful cost and timeline advantages versus new construction. The property’s recently renovated rooms, existing sprinklered fire protection, individually served plumbing and electrical, elevator systems, and building envelope provide an efficient conversion basis, translating one-to-one from 151 hotel keys to 151 multifamily units. An illustrative all-in basis of approximately $70,000 per unit, inclusive of acquisition and conversion capex, positions the opportunity meaningfully below prevailing new construction costs for comparable multifamily product in Eastern North Carolina.
The Rocky Mount NC Conversion Opportunity sits on Rocky Mount’s primary commercial corridor, providing direct access to retail, services, and I-95. Rocky Mount anchors a diversified Eastern North Carolina economy along the I-95 corridor, home to major employers including Pfizer, Cummins Rocky Mount Engine Plant, Nash UNC Health, and QVC. The market sits roughly one hour northeast of Raleigh and benefits from direct I-95 access to Richmond, Norfolk, and other major East Coast metros, supporting steady rental demand across the region.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
Property Facts
| Price | $9,859,430 CAD | Building Size | 55,602 SF |
| Price Per Room | $65,294 CAD | No. Rooms | 151 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1987/2023 |
| Property Subtype | Hotel | Parking Ratio | 2.7/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 5.98 AC | ||
| Zoning | I2 | ||
| Price | $9,859,430 CAD |
| Price Per Room | $65,294 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 5.98 AC |
| Building Size | 55,602 SF |
| No. Rooms | 151 |
| No. Stories | 2 |
| Year Built/Renovated | 1987/2023 |
| Parking Ratio | 2.7/1,000 SF |
| Corridor | Exterior |
| Zoning | I2 |
Amenities
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 43 | $95.78 CAD | - |
| Guest Room | 108 | $85.92 CAD | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 3851-19-52-8474 | Improvements Assessment | $5,209,117 CAD |
| Land Assessment | $1,019,747 CAD | Total Assessment | $6,228,864 CAD |
Property Taxes
Parcel Number
3851-19-52-8474
Land Assessment
$1,019,747 CAD
Improvements Assessment
$5,209,117 CAD
Total Assessment
$6,228,864 CAD
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Rocky Mount NC Conversion Opportunity | 1340 N Wesleyan Blvd
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