Hotel Pad Site

• ±2 acres, fully entitled pad ready site situated within a larger master-planned mixed-use project
• The site is approved for a 150-key, 7-story hotel featuring: ±5,000 SF of ground-floor retail, ±8,500 SF rooftop restaurant with panoramic views, Includes 90 structured parking spaces with adjacent luxury condominiums, Structured parking and additional surface parking, Fully titled approved site plans
• This is a rare opportunity to step into a shovel-ready hospitality development within an integrated adaptive mixed-use social living and luxury lifestyle hub
• Located minutes away from Research Triangle Park (RTP) — Largest research park in the United States, home to 300+ companies, major employers include IBM, Cisco, and GlaxoSmithKline
• ±3.6 Miles (10 Minutes) from Raleigh-Durham International Airport (RDU) — approximately 15.6 million passengers in 2025
• The site is eligible for Brownfield Tax Incentives. The current owner has applied, and a new developer will stand to benefit the tax exemption.
• Morrisville sits within the high-growth Raleigh-Cary MSA — one of the nation’s fastest expanding tech and life sciences hubs
• Projected population and household growth rates near 9–11% through 2029 within 3–5 miles of the site
• Year 1 Pro Forma NOI of $4,038,181 based on 70% occupancy, $190 ADR, and $133.00 RevPAR
• Centrally located within 15 minutes of Downtown Durham, Raleigh, and Cary