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Hotel-Motel

Canadian Courts Motel

220 N 2nd St, Canadian, TX 79014

Listing Price: $800,000

Cap Rate
3.36%
Number of Rooms
51
RevPAR
$10
Price/Room
$15,686
RRM
4.24
Year Built
2003

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Canadian Courts Motel (‘Hotel’ or ‘Property’). The independent Hotel is offered at $800,000 or $15,686 per key. The Canadian Courts Motel is located at 220 N 2nd Street in Canadian, Texas, just off U.S. Highway 60. The 51-room, two-story building was built in 2003 and situated on a 0.96-acre lot. The Property maintains several common area amenities, such as a meeting area that can accommodate up to 150 guests and a breakfast area. Often referred to as “the oasis of the High Plains,” Canadian is the county seat of Hemphill County, Texas and located about 100 miles northeast of Amarillo. Named after the nearby Canadian River, the city is located on the eastern side of the Texas Panhandle, near the Oklahoma border. Driving business travel to the city, Canadian’s top employers include Devon Energy, EOG Resources, and OneOk. Just under two miles from Hemphill County Airport and 100 miles from Rick Husband Amarillo International Airport, tourism to Canadian is largely generated from the region’s diverse array of attractions. Outdoor activities in the city range from touring Black Kettle National Grasslands, Lake Marvin, and the Gene Howe Wildlife Management Area to utilizing the amenities the various city parks and Hemphill County Recreation Complex provide. The city also boasts a rich culture and history, which is preserved by institutions such as the Citadelle Art Foundation, Palace Theatre, and River Valley Pioneer Museum. Lastly, the Canadian Cultural District provides unity to the city’s historical assets, local culture, and arts scene. Established by the city in 2017, the district is home to many well-known annual events including festivals, music performances, museums, art exhibitions, and more, drawing thousands of visitors into the River City each year. In the trailing twelve-month period ending in June 2022, room revenues exceeded $188 thousand. Current ownership has thoughtfully maintained the Property, completing a full renovation of the breakfast area and kitchen in 2020. Additionally, two fully renovated rooms are retrofitted to be manager’s quarters and include a sitting room, dining area, and kitchen.

Investment Highlights

  • Two-Story, 51-Room, Exterior-Corridor Hotel
  • Highly Visible and Easily Accessible from U.S. Highway 60
  • Located Approximately 100 Miles from Amarillo and Rick Husband Amarillo International Airport
  • TTM June 2022 Exceeded $188 Thousand
  • Brand New Breakfast Area and Kitchen - Renovated in 2020
  • Two Fully Renovated Rooms Operate as Manager's Quarters - Includes Sitting, Dining, and Kitchen Area

Exclusively Listed By

Financing By

Hotel-Motel

Canadian Courts Motel

Listing Price: $800,000

Cap Rate
3.36%
Number of Rooms
51
RevPAR
$10
Price/Room
$15,686
RRM
4.24
Year Built
2003

Investment Highlights

  • Two-Story, 51-Room, Exterior-Corridor Hotel
  • Highly Visible and Easily Accessible from U.S. Highway 60
  • Located Approximately 100 Miles from Amarillo and Rick Husband Amarillo International Airport
  • TTM June 2022 Exceeded $188 Thousand
  • Brand New Breakfast Area and Kitchen - Renovated in 2020
  • Two Fully Renovated Rooms Operate as Manager's Quarters - Includes Sitting, Dining, and Kitchen Area

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Canadian Courts Motel (‘Hotel’ or ‘Property’). The independent Hotel is offered at $800,000 or $15,686 per key. The Canadian Courts Motel is located at 220 N 2nd Street in Canadian, Texas, just off U.S. Highway 60. The 51-room, two-story building was built in 2003 and situated on a 0.96-acre lot. The Property maintains several common area amenities, such as a meeting area that can accommodate up to 150 guests and a breakfast area. Often referred to as “the oasis of the High Plains,” Canadian is the county seat of Hemphill County, Texas and located about 100 miles northeast of Amarillo. Named after the nearby Canadian River, the city is located on the eastern side of the Texas Panhandle, near the Oklahoma border. Driving business travel to the city, Canadian’s top employers include Devon Energy, EOG Resources, and OneOk. Just under two miles from Hemphill County Airport and 100 miles from Rick Husband Amarillo International Airport, tourism to Canadian is largely generated from the region’s diverse array of attractions. Outdoor activities in the city range from touring Black Kettle National Grasslands, Lake Marvin, and the Gene Howe Wildlife Management Area to utilizing the amenities the various city parks and Hemphill County Recreation Complex provide. The city also boasts a rich culture and history, which is preserved by institutions such as the Citadelle Art Foundation, Palace Theatre, and River Valley Pioneer Museum. Lastly, the Canadian Cultural District provides unity to the city’s historical assets, local culture, and arts scene. Established by the city in 2017, the district is home to many well-known annual events including festivals, music performances, museums, art exhibitions, and more, drawing thousands of visitors into the River City each year. In the trailing twelve-month period ending in June 2022, room revenues exceeded $188 thousand. Current ownership has thoughtfully maintained the Property, completing a full renovation of the breakfast area and kitchen in 2020. Additionally, two fully renovated rooms are retrofitted to be manager’s quarters and include a sitting room, dining area, and kitchen.

Exclusively Listed By

Financing By

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