Marcus & Millichap has brokered the sale of the 95-room avid hotel Summerville in Summerville, SC, for $12.9 million.
“This sale demonstrates continued investor confidence in high-quality, limited-service assets, especially in strong-growth markets like Summerville,” said Jack Davis, SVP, investments, Marcus & Millichap. “Closing at a sub-8% cap rate, this transaction highlights both the strength of the asset and the long-term potential for future growth in the region. It also marks our 15th hotel sale in the Charleston area over the past 36 months.”
Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller, Marcus & Millichap investment specialists, had the exclusive listing to market the property on behalf of the seller. Davis, Messinger and Dewese procured the buyer.
Built in 2021, the property is located off Interstate 26, 2.3 miles from downtown Summerville and 23 miles from downtown Charleston.
The pet-friendly hotel offers free WiFi, free grab-and-go breakfast, a 24-hour gym and a business center.
