Now with More Incentives!<\/p>\n\n\n\n
Unique Opportunity to purchase a 7 Acre Lot in southwestern Virginia at No Cost After County Development Credit. This lot is part of a 5 Parcel Development Project. The Bland County development team offers this unique deal for a developer to build a 60 \u2013 80 key Upper Midscale Hotel at growing Interstate 77 Exit 58. This location is a halfway stop to popular destinations of travelers along I-77. A Love\u2019s Travel Plaza and an Arby’s recently opened at the exit and the site is across from a museum. After completion, this would be the only hotel on I-77 between Wytheville, VA and Bluefield, WV.<\/p>\n\n\n\n
Developer has pick of brands including Fairfield Inn & Suites, Best Western Plus, Country Inn & Suites, Hampton Inn, Comfort Inn, Holiday Inn Express, etc.<\/p>\n\n\n\n
The hotel site (Lot #2) totals 7.148 Acres with 2.27 acres buildable area. This lot is offered for sale as part of a 5-Parcel Development. Lot #3 is slated for a restaurant. If the hotel developer wants to build a restaurant as well, the county would include Lot #3 (upon signing of performance contract) with the sale of Lot #2.<\/p>\n\n\n\n
Demand comes from both transient and leisure travelers. Interstate 77 has about 30,000 vehicles per day and there is a lodging \u201chole\u201d in this area. Outdoor Recreation leads the leisure segment with a plethora of national forests, hiking trails, and Wolf Creek Indian Village & Museum with over 8,000 visitors per year located directly across from the hotel site. A nearby Golf Course and Club is currently expanding, and offers excellent wedding venues.<\/p>\n\n\n\n
Projected Property Stats Based on 2026 Opening and STR Trend Report:\u00a0 65% Occupancy, $150 ADR, $97.50 RevPAR. Cap Rate: 10.1% on Cost to Build to Expected Income.<\/p>\n\n\n\n
Please fill out the Confidentiality Agreement to receive more details.<\/p>\n\n\n\n