Commercial Hotel Lots for sale in Charlotte |
New Hotel Development in Charlotte, NC – 2015 A good location is the most important criteria for a successful money making Hotel. You need to be concerned about competitors as well as opportunity for visitors and tourists. For example, in Charlotte, Motor Speedway brings the most people from outside but some locations are saturated and over priced as well. An average Hotel will have 100 rooms and will require 32,000 square feet. At an average construction cost of $100 per square foot, it could cost about 3 Million dollars just to build it. Cost of land is extra. It may be worth it to add a Banquet Room with a bar if the location is suitable for weddings and parties. Exit #46, Mallard Creek Church Rd, from I-85 in Charlotte is the best place for new Hotel development. Mallard Creek Church Rd is the first exit into the city of Charlotte. It leads straight to University of North Carolina Campus on one side and University Research Park on the other. The exit ramps have been reconstructed with two lanes each, and side street lights added in 2014.
Coming into Charlotte on I-85, Exit #49 is the Concord Mills Blvd, next Exit #48 is the 485-loop interchange, which is ready to open in spring of 2015. Next, Exit #46 (The first exit in City of Charlotte) is the Mallard Creek Church Rd, followed by Exit #45 Harris Blvd. Exit #49 has the following Hotels: Sleep Inn & Suites Hilton Garden Inn Wingate by Windham Courtyard by Marriott Hampton Inn & Suites Embassy Suites Holiday Inn Express Comfort Suites SpringHill Suites Residence Inn Great Wolf Lodge Suburban Extended Stay
Exit #45 has the following Hotels: Hilton TownePlace Suites SpringHill Suites Courtyard Drury Inn Holiday Inn Sleep Inn Residence Inn Hampton Inn Homewood Suites Country Inn & Suites Microtel Extended Stay America Comfort Suites
Both exit #49 and exit #45 are crowded, saturated and over-priced. It makes perfect sense, with the completion of the 485-loop, UNCC expanding, and absence of a single Hotel on exit #46, to build new Hotels on this exit. Exit #46 is also a major route to Charlotte Motor Speedway.
The North Carolina economy grew at a rate much stronger than expected during the second half of 2014 signaling significant potential growth in 2015, UNC Charlotte economist John Connaughton reported today in his quarterly forecast for the state. UNC Charlotte has seen explosive growth with enrollment increasing by 80 % and 1 billion dollars spent on new construction in last 10 years. There is no stopping the expansion of UNC Charlotte.
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