New Martinsville Hospitality for Sale
Rare investment opportunity! Former 51 Key Hotel! (Not currently operating. No accurate revenue numbers.)
Please read all information and view all documents.
A landmark 1965 brick hotel with substantial square footage, 51 guest rooms, 2 apartments, abundant natural light, and a commanding presence in a small town. Basement is partially finish and previously held a bar and a gym. Closed in 2020. The building is structurally sound and ready for a visionary owner willing to invest in modernization. Could be made into a boutique hotel, extended-stay lodging, assisted living, workforce housing, or multi-unit residential (subject to zoning).
Hotel was closed by the owners after mismanagement was discovered. Due to the mismanagement, I do not have accurate numbers for the property when it was operational.
Price to reflect current condition and significant upside potential.
Plumbing was winterized. Water has not been turned back one.
Electric is currently on.
Hot water source by commercial hot water heaters.
No A/C in rooms.
I have a quick walkthrough video upon request.
Happy to do facetime/video chat walkthroughs as well.
Power plant to be built soon in Moundsville, WV.
"MARSHALL COUNTY, W.Va. – Governor Patrick Morrisey today announced that Calpine LLC, a business unit of Constellation (Nasdaq: CEG), is moving forward with the development of a natural gas power plant in Moundsville, marking a more than $1 billion private-sector investment in West Virginia’s energy economy."
Source: https://governor.wv.gov/article/governor-morrisey-announces-1-billion-plus-calpine-corporation-investment
"MARA has entered into a definitive agreement to acquire Long Ridge Energy & Power LLC from FTAI Infrastructure Inc. (NASDAQ: FIP) for a total transaction value of approximately $1.5 billion, including the assumption of certain debt. The acquisition adds a highly efficient 505 MW nameplate combined-cycle gas power plant in Hannibal, Ohio, and over 1,600 contiguous acres supporting an integrated digital infrastructure campus inside the PJM interconnection. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary closing conditions."
Source: https://www.mara.com/posts/we-are-buying-a-505-megawatt-power-plant
