S m a r t H o t e l / S m a r t E x t e n d e d S t a y & S m a r t H o u s i n g
1 9 0 9 H a r p e r R o a d , B e c k l e y , We s t V i r g i n i a 2 5 8 0 1
O F F E R I N G M E M O R A N D U M
T h e E c o n o L o d g e 3 0 - r o o m i n t e r i o r c o r r i d o r h a s b e e n c o n v e r t e d i n t o a S m a r t H o t e l / S m a r t E x t e n d e d S t a y a n d t h e R o d e w a y I n n 1 0 0 - r o o m e x t e r i o r c o r r i d o r h a s b e e n c o n v e r t e d i n t o a S m a r t H o u s i n g w i t h
H O A r e c o r d e d .
N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E
C O N F I D E N T I A L I T Y & D I S C L A I M E R
T h e i n f o r m a t i o n c o n t a i n e d i n t h e f o l l o w i n g M a r k e t i n g B r o c h u r e i s p r o p r i e t a r y a n d s t r i c t l y c o n f i d e n t i a l . I t i s i n t e n d e d t o b e r e v i e w e d o n l y b y t h e p a r t y r e c e i v i n g i t f r o m M a r c u s & M i l l i c h a p R e a l E s t a t e I n v e s t m e n t S e r v i c e s o f F l o r i d a , I n c . ( “ M a r c u s & M i l l i c h a p ” ) , a n d s h o u l d n o t b e m a d e a v a i l a b l e
t o a n y o t h e r p e r s o n o r e n t i t y w i t h o u t t h e w r i t t e n c o n s e n t o f M a r c u s & M i l l i c h a p . T h i s M a r k e t i n g B r o c h u r e h a s b e e n p r e p a r e d t o p r o v i d e s u m m a r y , u n v e r i f i e d i n f o r m a t i o n t o p r o s p e c t i v e p u r c h a s e r s , a n d t o e s t a b l i s h o n l y a p r e l i m i n a r y l e v e l o f i n t e r e s t i n t h e s u b j e c t p r o p e r t y . T h e i n f o r m a t i o n
c o n t a i n e d h e r e i n i s n o t a s u b s t i t u t e f o r a t h o r o u g h d u e d i l i g e n c e i n v e s t i g a t i o n . M a r c u s & M i l l i c h a p h a s n o t m a d e a n y i n v e s t i g a t i o n , a n d m a k e s n o w a r r a n t y o r r e p r e s e n t a t i o n , w i t h r e s p e c t t o t h e i n c o m e o r e x p e n s e s f o r t h e s u b j e c t p r o p e r t y , t h e f u t u r e p r o j e c t e d f i n a n c i a l p e r f o r m a n c e o f t h e
p r o p e r t y , t h e s i z e a n d s q u a r e f o o t a g e o f t h e p r o p e r t y a n d i m p r o v e m e n t s , t h e p r e s e n c e o r a b s e n c e o f c o n t a m i n a t i n g s u b s t a n c e s , P C B ’ s o r a s b e s t o s , t h e c o m p l i a n c e w i t h S t a t e a n d F e d e r a l r e g u l a t i o n s , t h e p h y s i c a l c o n d i t i o n o f t h e i m p r o v e m e n t s t h e r e o n , o r t h e f i n a n c i a l c o n d i t i o n o r b u s i n e s s
p r o s p e c t s o f a n y t e n a n t , o r a n y t e n a n t ’ s p l a n s o r i n t e n t i o n s t o c o n t i n u e i t s o c c u p a n c y o f t h e s u b j e c t p r o p e r t y . T h e i n f o r m a t i o n c o n t a i n e d i n t h i s M a r k e t i n g B r o c h u r e h a s b e e n o b t a i n e d f r o m s o u r c e s w e b e l i e v e t o b e r e l i a b l e ; h o w e v e r , M a r c u s & M i l l i c h a p h a s n o t v e r i f i e d , a n d w i l l n o t v e r i f y , a n y
o f t h e i n f o r m a t i o n c o n t a i n e d h e r e i n , n o r h a s M a r c u s & M i l l i c h a p c o n d u c t e d a n y i n v e s t i g a t i o n r e g a r d i n g t h e s e m a t t e r s a n d m a k e s n o w a r r a n t y o r r e p r e s e n t a t i o n w h a t s o e v e r r e g a r d i n g t h e a c c u r a c y o r c o m p l e t e n e s s o f t h e i n f o r m a t i o n p r o v i d e d . A l l p o t e n t i a l b u y e r s m u s t t a k e a p p r o p r i a t e m e a s u r e s
t o v e r i f y a l l o f t h e i n f o r m a t i o n s e t f o r t h h e r e i n . M a r c u s & M i l l i c h a p i s a s e r v i c e m a r k o f M a r c u s & M i l l i c h a p R e a l E s t a t e I n v e s t m e n t o f S o u t h F l o r i d a S e r v i c e s , I n c .
© 2 0 2 1 M a r c u s & M i l l i c h a p . A l l r i g h t s r e s e r v e d .
S P E C I A L C O V I D - 1 9 N O T I C E
A l l p o t e n t i a l b u y e r s a r e s t r o n g l y a d v i s e d t o t a k e a d v a n t a g e o f t h e i r o p p o r t u n i t i e s a n d o b l i g a t i o n s t o c o n d u c t t h o r o u g h d u e d i l i g e n c e a n d s e e k e x p e r t o p i n i o n s a s t h e y m a y d e e m n e c e s s a r y , e s p e c i a l l y g i v e n t h e u n p r e d i c t a b l e c h a n g e s r e s u l t i n g f r o m t h e c o n t i n u i n g C O V I D - 1 9 p a n d e m i c . M a r c u s
& M i l l i c h a p h a s n o t b e e n r e t a i n e d t o p e r f o r m , a n d c a n n o t c o n d u c t , d u e d i l i g e n c e o n b e h a l f o f a n y p r o s p e c t i v e p u r c h a s e r . M a r c u s & M i l l i c h a p ’ s p r i n c i p a l e x p e r t i s e i s i n m a r k e t i n g i n v e s t m e n t p r o p e r t i e s a n d a c t i n g a s i n t e r m e d i a r i e s b e t w e e n b u y e r s a n d s e l l e r s . M a r c u s & M i l l i c h a p a n d i t s i n v e s t m e n t p r o f e s s i o n a l s c a n n o t a n d w i l l n o t a c t a s l a w y e r s , a c c o u n t a n t s , c o n t r a c t o r s , o r e n g i n e e r s . A l l p o t e n t i a l b u y e r s a r e a d m o n i s h e d a n d
a d v i s e d t o e n g a g e o t h e r p r o f e s s i o n a l s o n l e g a l i s s u e s , t a x , r e g u l a t o r y , f i n a n c i a l , a n d a c c o u n t i n g m a t t e r s , a n d f o r q u e s t i o n s i n v o l v i n g t h e p r o p e r t y ’ s p h y s i c a l c o n d i t i o n o r f i n a n c i a l o u t l o o k . P r o j e c t i o n s a n d p r o f o r m a f i n a n c i a l s t a t e m e n t s a r e n o t g u a r a n t e e s a n d , g i v e n t h e p o t e n t i a l v o l a t i l i t y c r e a t e d
b y C O V I D - 1 9 , a l l p o t e n t i a l b u y e r s s h o u l d b e c o m f o r t a b l e w i t h a n d r e l y s o l e l y o n t h e i r o w n p r o j e c t i o n s , a n a l y s e s , a n d d e c i s i o n - m a k i n g .
N O N - E N D O R S E M E N T N O T I C E
M a r c u s & M i l l i c h a p i s n o t a f f i l i a t e d w i t h , s p o n s o r e d b y , o r e n d o r s e d b y a n y c o m m e r c i a l t e n a n t o r l e s s e e i d e n t i f i e d i n t h i s m a r k e t i n g p a c k a g e . T h e p r e s e n c e o f a n y c o r p o r a t i o n ’ s l o g o o r n a m e i s n o t i n t e n d e d t o i n d i c a t e o r i m p l y a f f i l i a t i o n w i t h , o r s p o n s o r s h i p o r e n d o r s e m e n t b y , s a i d c o r p o r a t i o n
o f M a r c u s & M i l l i c h a p , i t s a f f i l i a t e s o r s u b s i d i a r i e s , o r a n y a g e n t , p r o d u c t , s e r v i c e , o r c o m m e r c i a l l i s t i n g o f M a r c u s & M i l l i c h a p , a n d i s s o l e l y i n c l u d e d f o r t h e p u r p o s e o f p r o v i d i n g t e n a n t l e s s e e i n f o r m a t i o n a b o u t t h i s l i s t i n g t o p r o s p e c t i v e c u s t o m e r s . A c t i v i t y I D : Z A C 0 3 9 0 1 2 3
A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N L Y .P L E A S E C O N S U L T Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .
T h i s i n f o r m a t i o n h a s b e e n s e c u r e d f r o m s o u r c e s w e b e l i e v e t o b e r e l i a b l e , b u t w e m a k e n o r e p r e s e n t a t i o n s o r w a r r a n t i e s , e x p r e s s e d o r i m p l i e d , a s t o t h e a c c u r a c y o f t h e i n f o r m a t i o n . R e f e r e n c e s t o s q u a r e f o o t a g e o r a g e a r e a p p r o x i m a t e . B u y e r m u s t v e r i f y t h e i n f o r m a t i o n a n d b e a r s a l l r i s k f o r a n y
i n a c c u r a c i e s . A n y p r o j e c t i o n s , o p i n i o n s , a s s u m p t i o n s o r e s t i m a t e s u s e d h e r e i n a r e f o r e x a m p l e p u r p o s e s o n l y a n d d o n o t r e p r e s e n t t h e c u r r e n t o r f u t u r e p e r f o r m a n c e o f t h e p r o p e r t y . M a r c u s & M i l l i c h a p R e a l E s t a t e I n v e s t m e n t S e r v i c e s i s a s e r v i c e m a r k o f M a r c u s & M i l l i c h a p R e a l E s t a t e I n v e s t m e n t
S e r v i c e s , I n c . © 2 0 2 1 M a r c u s & M i l l i c h a p A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N L Y .P L E A S E C O N S U L T Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .
OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com
Francis McGuire
West Virginia Broker of RecordMcGuire Realty Company Inc., Lic # WV0019009
B r o k e r o f R e c o r d
Property Description
PROPERT Y DESCRIPTION // Smar t Hotel /Smar t E xtended Stay
Pricing Guidelines Call For OffersName of Property Smart Hotel/Smart Extended SatyProperty Address 1909 HARPER RD, BECKLEY, WVRoom Count 30Number of Buildings 1
P R O P E R T Y D E S C R I P T I O N5
Smart Hotel/Smart Extended Stay consists of:
• 30-Rooms• Interior Corridor• Common Lobby• Offices• Breakfast Room• Pantry • Common Rest Rooms• Vending Areas • 60-Seat Smart Lounge And Bar• Meeting Room• Guest Laundry• Fitness Center• Main Laundry With Two Up To Date Washers And Three Dryers• 5,000 Square Feet Of Unfinished Area For 15-Additional Rooms/Warehouse/Storage/Etc• On The Main Floor, It Has U-Haul Truck Rentals And A Mini-Mart That Serves As A Convenience Store That Sells Cigarettes, Beer, WV Lottery, Live-Keno, And Lotto Tickets• U-Haul Truck Sales• A Food Truck With A Full Kitchen
PROPERT Y OVERVIEW // Smar t Hotel /Smar t E xtended Stay
P R O P E R T Y D E S C R I P T I O N 6
P R O P E R T Y D E S C R I P T I O N7
Smart Housing has been registered and recorded with the Raleigh County and the City of Beckley, as a housing unit community with its own Homeowners Association.
Smart Housing has three floors, exterior corridor and the following:
• 100-Rooms• Vending Area• Finished Operator’s Living Unit/Office• Four-Flights Of Stairs• Elevator• Sprinkler System• Storage• Signage• Ample Parking• Chase-Ways Between Front And Back Rooms To Make Electrical And Plumbing Tasks Easy
Both properties have illuminated parking lots and are highly visible during nighttime. Both brands have their main signages on harper road frontage. It has a digital sign as well. All sidewalks, breezeways, parking lot, green areas, shrubberies, plants, are well maintained.
PROPERT Y OVERVIEW // Smar t Housing
Pricing Guidelines Call For OffersName of Property Smart HousingProperty Address 1909 HARPER RD, BECKLEY, WVRoom Count 100Number of Buildings 1
P R O P E R T Y D E S C R I P T I O N 8
P R O P E R T Y D E S C R I P T I O N9
INVESTMENT HIGHLIGHTS // Smar t Hotel /Smar t E xtended Stay & Housing
• The Building A Smart Hotel /Smart Extended Stay 30-Rooms Interior Corridor Brand.
• The Building B Smart Housing 100-Units Brand Has Been Registered And Recorded With The Raleigh County And The City Of Beckley, As A Housing Unit Community With Its Own Homeowners Association.
• Sellers Have Updated, Renovated, And Remodeled Rooms, Furniture, Fixtures, Equipment, And Have Spent Over $1,000,000 In The Last 6-Years In Capital Improvements.
• Capital Improvements Consists Of Installations Of New Hot Water Heaters, Wi-Fi, Fi-ber-Optics, Led Lights For Electric Conservation, Gutters, Plantation, Room Supplies, Fur-nishings, LVT Flooring, Carpeting, Ismart Mini-Mart, U-Haul, Smart Lounge Building; Construction; Maintenance; And Renovations.
• There Is No Deferred Maintenance On Both Properties, Ensuring Minimal Pip If Deciding To Proceed With Other Brands.
• Opportunity To Capitalize On A 30%-40% NOI Through Implementing A Cost Cutting Strategy.
• Potential To Acquire 3br/3 1/2ba House/Commercial Office With 1/2 An Acre Lot Contin-gent On Acceptable Purchase Price.
• Owner Financing Is Available.
• Property Consists of Three Separate Parcels.
P R O P E R T Y D E S C R I P T I O N 10
P R O P E R T Y D E S C R I P T I O N11
P R O P E R T Y D E S C R I P T I O N 12
Financial Analysis
HISTORICAL FINANCIALS // Smar t Hotel /Smar t E xtended Stay
*2020 Expenses based off Industry Averages
Rooms 130 130 130Available Rooms 47,450 47,450 47,450Rooms Sold 30,795 23,251 16,940Occupancy 64.9% 49.0% 35.7%ADR $44.10 $56.35 $55.81RevPAR $28.62 $27.61 $19.92Revenue/Room $10,735 $9,848 $3,475
IncomeRoom Revenue $1,352,989 96.9% 1,156,812 90.4% $451,762 100.0%F&B Revenue $42,588 3.1% $123,444 9.6% $0 0.0%Total Revenue $1,395,577 100.0% $1,280,256 100.0% $451,762 100.0%
20202018 2019
2018 2019 2020
F I N A N C I A L A N A L Y S I S14
HISTORICAL FINANCIALS // Smar t Hotel /Smar t E xtended Stay HISTORICAL FINANCIALS // Smar t Hotel /Smar t E xtended Stay
*2020 Expenses based off Industry Averages
Rooms 130 130 130Available Rooms 47,450 47,450 47,450Rooms Sold 0 23,251 16,940Occupancy 0.0% 49.0% 35.7%ADR $0.00 $56.35 $55.81RevPAR $0.00 $27.61 $19.92Revenue/Room $10,735 $9,848 $3,475
IncomeRoom Revenue $1,352,989 96.9% 1,156,812 90.4% $451,762 100.0%F&B Revenue $42,588 3.1% $123,444 9.6% $0 0.0%Total Revenue $1,395,577 100.0% $1,280,256 100.0% $451,762 100.0%
Departmental ExpensesRooms $45,701 3.3% $23,703 1.9% $108,875 24.1%Food & Beverage $31,349 2.2% $32,184 2.5% $0 0.0%Other Operated Depts & Rentals $194,386 13.9% $375,046 29.3% $21,233 4.7%Total Departmental Expenses $271,436 19.4% $430,933 33.7% $130,107 28.8%
Gross Operating Income $1,124,141 80.6% $849,323 66.3% $321,655 71.2%
Undistributed Operating ExpensesAdministration & General $210,407 15.1% $191,151 14.9% $36,141 8.0%Marketing $25,655 1.8% $48,241 3.8% $23,943 5.3%Franchise Fees $147,862 10.6% $136,062 10.6% $22,588 5.0%Utility Costs $168,393 12.1% $167,553 13.1% $20,329 4.5%Property Operations & Maintenance $110,244 7.9% $5,198 0.4% $20,329 4.5%Total Undistributed Operating Expenses $662,560 47.5% $548,205 42.8% $123,331 27.3%
Gross Operating Profit $461,580 33.1% $301,118 23.5% $198,324 43.9%
Fixed ExpensesProperty Taxes $38,187 2.7% $39,478 3.1% $38,703 8.6%Insurance $33,169 2.4% $41,608 3.2% $4,518 1.0%Total Fixed Charges $71,356 5.1% $81,085 6.3% $43,221 9.6%
Total Expenses $1,005,352 72.0% $1,060,223 82.8% $296,659 65.7%
$390,225 28.0% $220,033 17.2% $155,103 34.3%
Capital Replacement Reserve $0 0.0% $0 0.0% $0 0.0%Management Fee $0 0.0% $0 0.0% $0 0.0%
$390,225 28.0% $220,033 17.2% $155,103 34.3%
Amount Available for Debt Service & Other Fixed Charges
Net Operating Income (EBITDA)
20202018 2019
2018 2019 2020
F I N A N C I A L A N A L Y S I S 15
5 Year Pro Forma // Smar t Hotel /Smar t E xtended Stay & Smar t Housing
Pro Forma
Rooms 130 130 130 130 130 130Available Rooms 47,450 47,450 47,450 47,450 47,450 47,450Rooms Sold 16,940 18,634 19,565 20,348 20,958 21,587Occupancy 35.7% 39.3% 41.2% 42.9% 44.2% 45.5%ADR $55.81 $56.93 $57.50 $58.07 $58.65 $59.24RevPAR $19.92 $22.35 $23.71 $24.90 $25.91 $26.95Revenue/Room $3,475 $8,160 $8,653 $9,089 $9,456 $9,837
IncomeRoom Revenue $451,762 100.0% $1,060,741 100.0% $1,124,916 100.0% $1,181,611 100.0% $1,229,230 100.0% $1,278,768 100.0%F&B Revenue $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Total Revenue $451,762 100.0% $1,060,741 100.0% $1,124,916 100.0% $1,181,611 100.0% $1,229,230 100.0% $1,278,768 100.0%
Departmental ExpensesRooms $108,875 24.1% $179,643 16.9% $188,625 16.8% $202,055 17.1% $214,361 17.4% $227,415 17.8%Food & Beverage $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Other Operated Depts & Rentals $21,233 4.7% $46,712 4.4% $49,048 4.4% $52,540 4.4% $55,740 4.5% $59,134 4.6%Total Departmental Expenses $130,107 28.8% $226,355 21.3% $237,673 21.1% $254,595 21.5% $270,100 22.0% $286,549 22.4%
Gross Operating Income $321,655 71.2% $834,386 78.7% $887,243 78.9% $927,016 78.5% $959,130 78.0% $992,219 77.6%
Undistributed Operating ExpensesAdministration & General $36,141 8.0% $108,423 10.2% $108,423 9.6% $111,676 9.5% $115,026 9.4% $118,477 9.3%Marketing $23,943 5.3% $71,830 6.8% $71,830 6.4% $73,985 6.3% $76,205 6.2% $78,491 6.1%Franchise Fees $22,588 5.0% $53,037 5.0% $56,246 5.0% $59,081 5.0% $61,462 5.0% $63,938 5.0%Utility Costs $20,329 4.5% $44,724 4.2% $46,961 4.2% $50,304 4.3% $53,368 4.3% $56,618 4.4%Property Operations & Maintenance $20,329 4.5% $44,724 4.2% $46,961 4.2% $50,304 4.3% $53,368 4.3% $56,618 4.4%
$123,331 27.3% $322,739 30.4% $330,420 29.4% $345,350 29.2% $359,428 29.2% $374,142 29.3%
Gross Operating Profit $198,324 43.9% $511,647 48.2% $556,822 49.5% $581,666 49.2% $599,703 48.8% $618,077 48.3%
Fixed ExpensesProperty Taxes $38,703 8.6% $58,055 5.5% $58,055 5.2% $59,796 5.1% $61,590 5.0% $63,438 5.0%
Insurance $4,518 1.0% $6,776 0.6% $6,776 0.6% $6,980 0.6% $7,189 0.6% $7,405 0.6%
Total Fixed Charges $43,221 9.6% $64,831 6.1% $64,831 5.8% $66,776 5.7% $68,779 5.6% $70,843 5.5%
Total Expenses $296,659 65.7% $613,925 57.9% $632,924 56.3% $666,721 56.4% $698,307 56.8% $731,533 57.2%
$155,103 34.3% $446,816 42.1% $491,992 43.7% $514,890 43.6% $530,923 43.2% $547,235 42.8%
Capital Replacement Reserve $0 0.0% $21,215 2.0% $22,498 2.0% $23,632 2.0% $24,585 2.0% $25,575 2.0%
Management Fee $0 0.0% $42,430 4.0% $44,997 4.0% $47,264 4.0% $49,169 4.0% $51,151 4.0%
Net Operating Income (EBITDA) $155,103 34.3% $383,171 36.1% $424,497 37.7% $443,994 37.6% $457,170 37.2% $470,509 36.8%
2023 2024 2025
Total Undistributed Operating Expenses
2022
2020 2021 2022
2020 2021
Amount Available for Debt Service & Other Fixed Charges
2024 20252023
F I N A N C I A L A N A L Y S I S16
5 Year Pro Forma // Smar t Hotel /Smar t E xtended Stay & Smar t Housing
Pro Forma
Rooms 130 130 130 130 130 130Available Rooms 47,450 47,450 47,450 47,450 47,450 47,450Rooms Sold 16,940 18,634 19,565 20,348 20,958 21,587Occupancy 35.7% 39.3% 41.2% 42.9% 44.2% 45.5%ADR $55.81 $56.93 $57.50 $58.07 $58.65 $59.24RevPAR $19.92 $22.35 $23.71 $24.90 $25.91 $26.95Revenue/Room $3,475 $8,160 $8,653 $9,089 $9,456 $9,837
IncomeRoom Revenue $451,762 100.0% $1,060,741 100.0% $1,124,916 100.0% $1,181,611 100.0% $1,229,230 100.0% $1,278,768 100.0%F&B Revenue $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Total Revenue $451,762 100.0% $1,060,741 100.0% $1,124,916 100.0% $1,181,611 100.0% $1,229,230 100.0% $1,278,768 100.0%
Departmental ExpensesRooms $108,875 24.1% $179,643 16.9% $188,625 16.8% $202,055 17.1% $214,361 17.4% $227,415 17.8%Food & Beverage $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Other Operated Depts & Rentals $21,233 4.7% $46,712 4.4% $49,048 4.4% $52,540 4.4% $55,740 4.5% $59,134 4.6%Total Departmental Expenses $130,107 28.8% $226,355 21.3% $237,673 21.1% $254,595 21.5% $270,100 22.0% $286,549 22.4%
Gross Operating Income $321,655 71.2% $834,386 78.7% $887,243 78.9% $927,016 78.5% $959,130 78.0% $992,219 77.6%
Undistributed Operating ExpensesAdministration & General $36,141 8.0% $108,423 10.2% $108,423 9.6% $111,676 9.5% $115,026 9.4% $118,477 9.3%Marketing $23,943 5.3% $71,830 6.8% $71,830 6.4% $73,985 6.3% $76,205 6.2% $78,491 6.1%Franchise Fees $22,588 5.0% $53,037 5.0% $56,246 5.0% $59,081 5.0% $61,462 5.0% $63,938 5.0%Utility Costs $20,329 4.5% $44,724 4.2% $46,961 4.2% $50,304 4.3% $53,368 4.3% $56,618 4.4%Property Operations & Maintenance $20,329 4.5% $44,724 4.2% $46,961 4.2% $50,304 4.3% $53,368 4.3% $56,618 4.4%
$123,331 27.3% $322,739 30.4% $330,420 29.4% $345,350 29.2% $359,428 29.2% $374,142 29.3%
Gross Operating Profit $198,324 43.9% $511,647 48.2% $556,822 49.5% $581,666 49.2% $599,703 48.8% $618,077 48.3%
Fixed ExpensesProperty Taxes $38,703 8.6% $58,055 5.5% $58,055 5.2% $59,796 5.1% $61,590 5.0% $63,438 5.0%
Insurance $4,518 1.0% $6,776 0.6% $6,776 0.6% $6,980 0.6% $7,189 0.6% $7,405 0.6%
Total Fixed Charges $43,221 9.6% $64,831 6.1% $64,831 5.8% $66,776 5.7% $68,779 5.6% $70,843 5.5%
Total Expenses $296,659 65.7% $613,925 57.9% $632,924 56.3% $666,721 56.4% $698,307 56.8% $731,533 57.2%
$155,103 34.3% $446,816 42.1% $491,992 43.7% $514,890 43.6% $530,923 43.2% $547,235 42.8%
Capital Replacement Reserve $0 0.0% $21,215 2.0% $22,498 2.0% $23,632 2.0% $24,585 2.0% $25,575 2.0%
Management Fee $0 0.0% $42,430 4.0% $44,997 4.0% $47,264 4.0% $49,169 4.0% $51,151 4.0%
Net Operating Income (EBITDA) $155,103 34.3% $383,171 36.1% $424,497 37.7% $443,994 37.6% $457,170 37.2% $470,509 36.8%
2023 2024 2025
Total Undistributed Operating Expenses
2022
2020 2021 2022
2020 2021
Amount Available for Debt Service & Other Fixed Charges
2024 20252023
F I N A N C I A L A N A L Y S I S 17
Market Overview
Raleigh County is considered the hub of Southern West Virginia, and is the gateway to many adventures throughout the region. Visit the Beckley Exhibition Coal Mine to learn more about this piece of West Virginia history, take in a scenic view at Grandview and discover artisan wares at Tamarack: The Best of West Virginia.
Beckley-Raleigh County is the hub of southern WV. Easily accessible off of I-77 and I-64 this area is home to many unique attractions, including Tamarack and the Beckley Exhibition Coal Mine, city, state and national parks, and is surrounded by a plethora of adventure opportunities. Great place to stay, shop and dine.
Southern West Virginia is a sight to behold. Scenic overlooks, wooded hiking trails, cascading waterfalls and flowing rivers are just a few examples of the natural beauty found here. But natural beauty isn’t the only thing here. Discover unique culture, attractions and much more when you stay a little longer in Southern West Virginia.
West Virginia has it all: rural retreats and country culture, steep hills and deep valleys, scenic vistas, serene retreats, and serious adventure! Southern West Virginia is made up of nine counties, each with their own unique experiences, history and adventures. Stay a little longer in Southern West Virginia to experience everything that makes the area fun for everyone.
A r e a O fS o u t h e r n We s t V i r g i n i a
WEST VIRGINIA OVERVIEW
West Virginia is a southeastern state in the Appalachian and Mid-Atlantic regions of the Southern United States.[Note 1] It is bordered by Pennsylvania to the northeast, Maryland to the east and northeast, Virginia to the southeast, Kentucky to the southwest, and Ohio to the northwest. West Virginia is the 41st-largest state by area and ranks 38th in population, with around 1.791 million residents. The capital and largest city is Charleston.
The state is noted for its mountains and rolling hills, its historically significant logging and coal mining industries, and its political and labor history. It is also known for a wide range of outdoor recreational opportunities, including skiing, whitewater rafting, fishing, hiking, backpacking, mountain biking, rock climbing, and hunting.One of the major resources in West Virginia’s economy is coal. According to the Energy Information Administration, West Virginia is a top coal-producer in the United States, second only to Wyoming. West Virginia is located in the heart of the Marcellus Shale Natural Gas Bed, which stretches from Tennessee north to New York in the middle of Appalachia. As of 2017, the coal industry accounted for 2% of state employment.
Tourism contributed $4.27 billion to the state’s economy and employed 44,400 people in 2010, making it one of the state’s largest industries.[99] Many tourists, especially in the eastern mountains, are drawn to the region’s notable opportunities for outdoor recreation. Canaan Valley is popular for winter sports, Seneca Rocks is one of the premier rock climbing destinations in the eastern U.S., the New River Gorge/Fayetteville area draws rock climbers as well as whitewater rafting enthusiasts, and the Monongahela National Forest is popular with hikers, backpackers, hunters, and anglers. Seneca Rocks, Pendleton County. In addition to such outdoor recreation opportunities, the state offers a number of historic and cultural attractions. Harpers Ferry National Historical Park is a historic town situated at the confluence of the Shenandoah and Potomac rivers. Harpers Ferry was the site of John Brown’s 1859 raid on the U.S. Armory and Arsenal. Located at the approximate midpoint of the Appalachian Trail, Harpers Ferry is the base of the Appalachian Trail Conservancy.The Greenbrier hotel and resort, originally built in 1778, has long been considered a premier hotel, frequented by numerous world leaders and U.S. presidents over the years.The top 5 employers in the state are; WVU Medicine, Walmart, CAMC Health System, Mountain Health Network, Krog
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I-77 and I-64 0.2 milesRaleigh General Hospital 0.4 milesExhibition Coal Mines 2.0 milesTamarak WV Art 1.0 mileBrierPatch Golf 1.0 mileAntique Mall 2.0 milesFederal Court House 2.0 milesThe University of West Virginia Beckley Campus 2.0 milesRaleigh County Court House 4.0 milesThe University of Charleston Beckley Campus 4.0 milesBeckley Airport 6.0 milesPaul Cline Sports Complex 6.0 milesNational Scout Jamboree 6.0 milesLake Stephens 8.0 milesGrandview Golf 14 milesWinter Place Skiing 30 milesNew River Gorge 30 milesCharleston WV 55 milesCharleston WV Yeager Airport 60 milesVirginia Border 45 milesCharlotte, NC 200 milesWashington D.C. 300 miles
List of nearby Local Landmarks & Attractions:
Dining - All In Walking Distance· Outback Steak House, Char, Dairy Queen, Pizza Hut, Burger King, Mc Donald, Wendy’s, Bob Evans, Cracker Bar-rel, Chick-fil-a, Tamarak, Campestre, Pasquales.
Hospital - Less than 1/2 a mile· Raleigh General Hospital· Doctors’ Offices
Pharmacies - Walking Distance· CVS· By-Pass
Bank - Walking Distance· Summit Community Bank
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