Hospitality Business for Sale in Chesapeake, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Chesapeake, VA 23321
  • Year built: 2000

Description

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Sleep Inn & Suites Chesapeake – Portsmouth, located in Chesapeake, Virginia. This Choice-branded hotel, originally constructed in 2000, consists of 83 interior corridor guestrooms and is being offered fee simple, free and clear of existing debt and management, at $6,400,000. The property has an NOI of $590,429, providing strong in-place cash flow for a new owner. The property has shown strong recent momentum, with revenues increasing by more than $55,000 year-to-date, and is currently on pace to surpass $1.6 million in total revenue for 2026. Upon acquisition, investors can expect minimal PIP requirements, allowing for a more seamless transition and limited upfront capital investment. Investment Highlights: • Strong Government Demand Drivers • $590,429 NOI • Minimal PIP

Market Context

This hospitality in Chesapeake, VA is listed for sale. It is offered at an approximate 9.0% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 2000. It has been on the market for 67 days. Compare it against other hospitality listings for sale in Chesapeake, VA — <a href="/search/sale/hospitality/virginia/chesapeake">view the full market</a>.

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