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Hotel-Motel

The Regal Hotel

2313 SE Loop, Carthage, TX 75633

Listing Price: $2,400,000

Cap Rate
6.08%
Number of Rooms
50
RevPAR
$28
Price/Room
$48,000
RRM
4.64
Year Built
2000

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to quali?ed investors The Regal Hotel (‘Hotel’ or ‘Property’). The independent Hotel is offered at $2,400,000 or $48,000 per key. The Regal Hotel is located at 2313 SE Loop in Carthage, Texas, just off the southeast loop State Highway 59. The 50-room, two-story building was constructed in 2000 and renovated in 2009. The Property spans 1.98 acres and maintains common amenities such as a ?tness center, a business center, an outdoor pool, a 672 square-foot meeting room, and a laundry facility. Situated in deep East Texas, Carthage is the county seat of Panola County about 20 miles west of the Louisiana state line. The city’s economy relies primarily on the mining, retail trade, and health care industries, with Tyson Foods Incorporated, Barrilleaux Energy Services, and Courtney Construction employing the most residents. Tourists to the region often stop by the Texas Country Music Hall of Fame, which also features the Tex Ritter Museum. Tex Ritter, a pioneer of country music, was a popular musician and actor in the 1930s and was inducted into the Texas Country Music Hall of Fame in 1998. An inductee of both the Country Music and Texas Country Music Hall of Fame, Jim Reeves was a country singer-songwriter that was a popular practitioner of Nashville Sound. Also known as “Gentleman Jim,” Reeves was buried in Carthage just off State Highway 79 at a site called the Grave of Gentlemen Jim Reeves. Nearby these staples of Carthage’s downtown entertainment scene, the Esquire Theater hosts country musicians on Saturday evenings. The city of Carthage is home to Panola College, a public community college that enrolls over 2,500 students and has athletics programs for volleyball, basketball, baseball, and rodeo. Lastly, the city is intersected by six highways, most importantly by State Highway 59 and State Highway 79. In the trailing twelve-month period ending in July 2022, room revenues exceeded $517 thousand while maintaining a net operating income of $145 thousand, or 27.9 percent of gross revenues, after a four percent capital replacement reserve. Focusing on operational ef?ciency, a new owner can see a signi?cant boost in Hotel performance through additional revenue management strategies. The Hotel is offered fee simple, unencumbered by a management contract and debt.

Investment Highlights

  • Two-Story, 50-Room, Interior-Corridor Hotel Priced at $48,000 Per Key
  • Highly Visible and Easily Accessible from State Highway 59
  • Surrounded by a Diverse Array of Historical Sites, Entertainment Venues, and Outdoor Activities
  • TTM July 2022 Eclipsed $500 Thousand in Room Revenue and $145 Thousand in Net Operating Income
  • Multiple Rebranding Options Available

Exclusively Listed By

Financing By

Hotel-Motel

The Regal Hotel

Listing Price: $2,400,000

Cap Rate
6.08%
Number of Rooms
50
RevPAR
$28
Price/Room
$48,000
RRM
4.64
Year Built
2000

Investment Highlights

  • Two-Story, 50-Room, Interior-Corridor Hotel Priced at $48,000 Per Key
  • Highly Visible and Easily Accessible from State Highway 59
  • Surrounded by a Diverse Array of Historical Sites, Entertainment Venues, and Outdoor Activities
  • TTM July 2022 Eclipsed $500 Thousand in Room Revenue and $145 Thousand in Net Operating Income
  • Multiple Rebranding Options Available

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to quali?ed investors The Regal Hotel (‘Hotel’ or ‘Property’). The independent Hotel is offered at $2,400,000 or $48,000 per key. The Regal Hotel is located at 2313 SE Loop in Carthage, Texas, just off the southeast loop State Highway 59. The 50-room, two-story building was constructed in 2000 and renovated in 2009. The Property spans 1.98 acres and maintains common amenities such as a ?tness center, a business center, an outdoor pool, a 672 square-foot meeting room, and a laundry facility. Situated in deep East Texas, Carthage is the county seat of Panola County about 20 miles west of the Louisiana state line. The city’s economy relies primarily on the mining, retail trade, and health care industries, with Tyson Foods Incorporated, Barrilleaux Energy Services, and Courtney Construction employing the most residents. Tourists to the region often stop by the Texas Country Music Hall of Fame, which also features the Tex Ritter Museum. Tex Ritter, a pioneer of country music, was a popular musician and actor in the 1930s and was inducted into the Texas Country Music Hall of Fame in 1998. An inductee of both the Country Music and Texas Country Music Hall of Fame, Jim Reeves was a country singer-songwriter that was a popular practitioner of Nashville Sound. Also known as “Gentleman Jim,” Reeves was buried in Carthage just off State Highway 79 at a site called the Grave of Gentlemen Jim Reeves. Nearby these staples of Carthage’s downtown entertainment scene, the Esquire Theater hosts country musicians on Saturday evenings. The city of Carthage is home to Panola College, a public community college that enrolls over 2,500 students and has athletics programs for volleyball, basketball, baseball, and rodeo. Lastly, the city is intersected by six highways, most importantly by State Highway 59 and State Highway 79. In the trailing twelve-month period ending in July 2022, room revenues exceeded $517 thousand while maintaining a net operating income of $145 thousand, or 27.9 percent of gross revenues, after a four percent capital replacement reserve. Focusing on operational ef?ciency, a new owner can see a signi?cant boost in Hotel performance through additional revenue management strategies. The Hotel is offered fee simple, unencumbered by a management contract and debt.

Exclusively Listed By

Financing By

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