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Hotel-Motel

Candlewood Suites Tyler

315 E Rieck Rd, Tyler, TX 75703

Listing Price: $4,500,000

Cap Rate
3.18%
Number of Rooms
64
RevPAR
$46
Price/Room
$70,313
RRM
4.20
Year Built
2003

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Candlewood Suites Tyler (‘Hotel’ or ‘Property’). The IHG-branded Hotel is offered at $4,500,000 or $70,313 per key.

The Candlewood Suites Tyler is located at 315 E Rieck Road in Tyler, Texas, just off US Highway 69. The four-story, 64-room building was built in 2003 and stretches 1.05 acres. The extended stay property includes kitchenettes in every room, and was recently renovated in 2023. The Property boasts an expansive interior corridor and offers a multitude of shared amenities such as a business center, fitness center, onsite retail options, laundry services, banquet space for 15 guests, and a BBQ patio.

Tyler, Texas, located in the eastern part of the state, is a dynamic city known for its economic diversity
and strong community bonds. With a population exceeding 100,000 residents, Tyler combines urban
conveniences with a small-town atmosphere. The city's economy is bolstered by various sectors, including healthcare, manufacturing, agriculture, and education, offering a range of job opportunities. Tyler also benefits from 3 higher education institutions with a combined enrollment of over 24,000 students. The recent influx of investments has further bolstered the economy, with notable projects such as the expansion of the South Broadway Avenue commercial district and the development of the Rose Complex, a $28 million convention center.

Tyler's vibrant community, cultural attractions, and economic vitality contribute to its appeal as a thriving and welcoming city in Texas. Centrally located in the "Rose Capital of the World," the Candlewood Suites Tyler is a convenient, charming place for tourists and extended stay corporate travelers. Located just over
five miles from the Tyler Rose Garden Center (5.6 miles), the world's largest rose garden, a short commute to attractions like Discovery Science Place (5.8 miles), The Oil Palace (8.7 miles), and the Azalea & Spring Flower Trail, the hotel’s address is perfect for leisure travelers. Business travelers can benefit from the proximity to the many major companies in Tyler, Texas. The hotel's location is in close proximity to Delek Refining (7.2 miles), and East Texas Medical Center (5.1 miles), and the W.T. Brookshire Conference Center (5.7 miles).

Investment Highlights

  • Four-Story, 64-Room, Interior Corridor, Extended Stay IHG-Branded Hotel
  • Recently Renovated in 2023
  • Easily Accessible from US Highway 69
  • Surrounded by Leisure Travel Activities including Tyler Rose Garden Center, The Discovery Science Place and the Azalea & Spring Flower Trail
  • Close Proximity to Delek Refining, East Texas Medical Center and W.T. Brookshire Conference Center

Exclusively Listed By

Financing By

Hotel-Motel

Candlewood Suites Tyler

Listing Price: $4,500,000

Cap Rate
3.18%
Number of Rooms
64
RevPAR
$46
Price/Room
$70,313
RRM
4.20
Year Built
2003

Investment Highlights

  • Four-Story, 64-Room, Interior Corridor, Extended Stay IHG-Branded Hotel
  • Recently Renovated in 2023
  • Easily Accessible from US Highway 69
  • Surrounded by Leisure Travel Activities including Tyler Rose Garden Center, The Discovery Science Place and the Azalea & Spring Flower Trail
  • Close Proximity to Delek Refining, East Texas Medical Center and W.T. Brookshire Conference Center

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Candlewood Suites Tyler (‘Hotel’ or ‘Property’). The IHG-branded Hotel is offered at $4,500,000 or $70,313 per key. The Candlewood Suites Tyler is located at 315 E Rieck Road in Tyler, Texas, just off US Highway 69. The four-story, 64-room building was built in 2003 and stretches 1.05 acres. The extended stay property includes kitchenettes in every room, and was recently renovated in 2023. The Property boasts an expansive interior corridor and offers a multitude of shared amenities such as a business center, fitness center, onsite retail options, laundry services, banquet space for 15 guests, and a BBQ patio. Tyler, Texas, located in the eastern part of the state, is a dynamic city known for its economic diversity and strong community bonds. With a population exceeding 100,000 residents, Tyler combines urban conveniences with a small-town atmosphere. The city's economy is bolstered by various sectors, including healthcare, manufacturing, agriculture, and education, offering a range of job opportunities. Tyler also benefits from 3 higher education institutions with a combined enrollment of over 24,000 students. The recent influx of investments has further bolstered the economy, with notable projects such as the expansion of the South Broadway Avenue commercial district and the development of the Rose Complex, a $28 million convention center. Tyler's vibrant community, cultural attractions, and economic vitality contribute to its appeal as a thriving and welcoming city in Texas. Centrally located in the "Rose Capital of the World," the Candlewood Suites Tyler is a convenient, charming place for tourists and extended stay corporate travelers. Located just over five miles from the Tyler Rose Garden Center (5.6 miles), the world's largest rose garden, a short commute to attractions like Discovery Science Place (5.8 miles), The Oil Palace (8.7 miles), and the Azalea & Spring Flower Trail, the hotel’s address is perfect for leisure travelers. Business travelers can benefit from the proximity to the many major companies in Tyler, Texas. The hotel's location is in close proximity to Delek Refining (7.2 miles), and East Texas Medical Center (5.1 miles), and the W.T. Brookshire Conference Center (5.7 miles).

Exclusively Listed By

Financing By

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