Dulles Suites Extended Stay Hotel (Conversion Opportunity)

Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings! Prospective buyers can view financial history including revenue, NOI, ADR, and Occupancy by clicking "Download OM" and signing a confidentiality agreement. This property is currently listed as unpriced. NO PRICING GUIDANCE IS AVAILABLE. Ownership will review and respond to all offers and ultimately select the offer with the best price and terms.

Colliers, as an exclusive representative of the ownership, is pleased to present to qualified investors for their acquisition consideration the Dulles Suites Extended Stay Hotel, located at 21123 Whitfield Place, Sterling, VA, 20165. The asset is located at the intersection of Leesburg Pike (59,167 vehicles per day) and Cascades Parkway (24,976 vehicles per day) adjacent to the Northern Virginia Community College Loudon Campus and Dulles Town Center. The hotel boasts quick access to Dulles International Airport, an 8-mile drive via route 28 S.

The Dulles Suites Extended Stay Hotel is a concrete-built, all-suite, extended stay hotel. The subject property is comprised of 94 keys spread across two buildings, each of which are congruent three-story structures with an elevator. Each of the 94 suites is outfitted with kitchenette, including an auxiliary sink, stovetop, microwave, dishwasher, refrigerator/freezer, and cabinetry. The property is comprised of 51,395 improved square feet and sits on a 2.43-acre parcel. The property is offered with fee-simple ownership interest, and is unencumbered of brand, unencumbered of management, and unencumbered by debt.

The hotel was built in 1998 and operated as a TownePlace Suites by Marriott under a twenty-year franchise agreement, until expiration of the TownePlace Suites franchise agreement in 2019/2020. The hotel briefly operated without a franchise before being converted to a Hawthorn Suites by Wyndham by the current ownership in January of 2021, following a partial renovation. Current ownership operated that hotel as a Hawthorn Suites by Wyndham for just over two years, and subsequently terminated their franchise agreement in May of 2023. The hotel has since operated independent of a franchise as the Dulles Suites Extended Stay.

The offering presents a unique opportunity for investors to consider their highest and best use of the asset from a variety of potential options; A) an investor could continue to operate the hotel as a non-franchised, independent hotel and add value by focusing on management and marketing efforts, B) an investor could seek to re-brand the hotel to align with one of various available franchise opportunities in the market, or C) an investor could seek to purchase the property for an alternative use and seek to re-zone the parcel post-closing to a variety of other uses, including multi-family, workforce housing, senior housing, or a rehabilitation/treatment center. The property’s superior location in Loudon County, the highest median household income county in the United States, may present itself to be attractive for investors seeking to adaptively re-use the property or continue use as a hotel. Zoning in-place at the hotel based on preliminary search appears to be PDH4, which is described as, “Mixed use residential communities including single family and multifamily housing products with supportive non-residential uses. Maximum overall residential density of 4 units per acre.” Although, a determination should be requested from the Loudon County Zoning Administrator to verify zoning for a particular property.

Upside exists for hotel operators seeking to continue use of the property as a hotel through a variety of methods