Hotels
For Sale: 75-room Hotel property, San Antonio, TX
Asking Price: $3,350,000
Property Overview:
This offering represents a great value add opportunity to execute repositioning through flag conversion.
75-room, 2-story property with 3,000 square feet of living area. The current owner completely renovated the interior and exterior of the building in 2007 and opened the hotel as an independent. The hotel provides an opportunity for a new buyer to convert the property to pre-approved Red Roof Inn or Econolodge franchise and take advantage of the reservation system and global brand recognition. An estimated $150,000 in capital improvement is needed to meet franchise standards.
Location Description:
The hotel has great visibility from Interstate 35 and encompasses 2.5 acres of premium highway frontage. San Antonio is the #1 tourist destination in Texas. The city offers many tourist attractions such as The Alamo, Riverwalk, SeaWorld and Fiesta Texas. The surrounding area is fast growing and is continuing to undergo development.
Average Occupancy: 55%
NOI Actual: $364,815 (per seller)
Contact us for complete details. Reference #15893379
