Stratford Inn on the market for $2.75M

By Bernard Baker

Published: August 28, 2008

A longstanding Danville hotel went on the market last week with an asking price of $2.75 million.

The Stratford Inn, at 2500 Riverside Drive, is being listed on a couple of online commercial real estate Web sites, Nick Fowler, the real estate agent handling the sale, said Thursday.

“We have the best commercial site and commercial corner site in Danville,” he said. “It’s probably the premier site in Danville.”

Fowler said he thinks the property will sell because it’s located at one of the city’s busiest intersections — Riverside Drive and Piney Forest Road.

“We’ve got a couple of people looking at it,” Fowler said.

The Stratford Inn is centrally located in the city and close to recent retail development, such as Coleman MarketPlace.

The Stratford Inn has three buildings, 62 units and 10,599 square feet, according to its online listing at commercialiq.com. The listing states the Stratford Inn was built in 1959 and was renovated in 1980.

The average occupancy rate for the hotel is 40 and the site is about 1.8 acres. Taxes on the property run a little more than $14,000 a year and the property is assessed at $1.9 million.

The Stratford Inn was originally opened as Danville’s Holiday Inn by Joe and Eileen Stendig in 1959.

Stendig fought Holiday Inn after the company took away his franchise. The State Corporation Commission granted Stendig a hearing in his fight to keep his Holiday Inn franchise in the late 1980s. Holiday Inn told Stendig it would withdraw his non-exclusive franchise at the end of the year unless he made several hundreds of thousands of dollars in renovations, records show. Instead, he changed the name of the facility to the Stratford Inn in 1989.

Joseph Stendig sold the business to Pankaj K. Patel in 1998 after owning it for 38 years.

Contact Bernard Baker at or (434) 791-7986.