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Hotel-Motel

TownePlace Suites Dallas McKinney

1832 Marketplace Dr, McKinney, TX 75069

Listing Price: $11,000,000

Cap Rate
4.70%
Number of Rooms
88
RevPAR
$64
Gross SF
49,400
Price/Room
$125,000
RRM
5.40
Price/Gross SF
$222.67
Year Built
2016

Investment Overview

Marcus & Millichap has been chosen to exclusively market for the sale the TownePlace Suites Dallas McKinney in McKinney, Texas. This property is a 4-story, interior corridor hotel with 88 rooms, located three miles from the McKinney National Airport. TownePlace Suites Dallas McKinney is completely renovated with a PIP completed in 2024. McKinney Texas was just named most affordable city in July 2024.

Newer modern amenities combined with the comforts of home and Marriotts award-winning hospitality at TownePlace Suites Dallas McKinney. Situated in vibrant north Dallas, the all-suite hotel in McKinney, TX, places you within a few minutes of Allen Premium Outlets and numerous restaurants. Experience a range of hotel amenities that seamlessly balance work and play, including a state-of-the-art fitness center, a 24-hour market and an on-site business center. Jumpstart the day at our hotel in McKinney, Texas, with complimentary, hot breakfast served daily and end your day lounging by our outdoor pool and BBQ grilling area. When you’re ready to unwind, stretch out in your hotel suite and watch a favorite movie on a 32-inch flat-screen TV with premium channels. The studio, one and two-bedroom suites include separate living and sleeping areas, complimentary Wi-Fi, a well-lit work desk, a full kitchen and daily housekeeping services.

Investment Highlights

  • Newly Renovated (2024) Marriott Extended-Stay Hotel well below replacement cost
  • DFW #3 Largest MSA in the USA, McKinney experiencing rapid economic growth
  • McKinney's RevPAR Growth of 7.5% the last 12 months, highest across country
  • McKinney Airport getting a Commercial Terminal making it 3rd airport in metro behind DFW and Dallas Love Field
  • DFW is the Top Relocation Market for Fortune 500 Companies (24 of Fortune 500, 165 of Fortune 1000)
  • $220M concert venue holding 20,000 seats being developed on adjacent parcel

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Hotel-Motel

TownePlace Suites Dallas McKinney

Listing Price: $11,000,000

Cap Rate
4.70%
Number of Rooms
88
RevPAR
$64
Gross SF
49,400
Price/Room
$125,000
RRM
5.40
Price/Gross SF
$222.67
Year Built
2016

Investment Highlights

  • Newly Renovated (2024) Marriott Extended-Stay Hotel well below replacement cost
  • DFW #3 Largest MSA in the USA, McKinney experiencing rapid economic growth
  • McKinney's RevPAR Growth of 7.5% the last 12 months, highest across country
  • McKinney Airport getting a Commercial Terminal making it 3rd airport in metro behind DFW and Dallas Love Field
  • DFW is the Top Relocation Market for Fortune 500 Companies (24 of Fortune 500, 165 of Fortune 1000)
  • $220M concert venue holding 20,000 seats being developed on adjacent parcel

Investment Overview

Marcus & Millichap has been chosen to exclusively market for the sale the TownePlace Suites Dallas McKinney in McKinney, Texas. This property is a 4-story, interior corridor hotel with 88 rooms, located three miles from the McKinney National Airport. TownePlace Suites Dallas McKinney is completely renovated with a PIP completed in 2024. McKinney Texas was just named most affordable city in July 2024. Newer modern amenities combined with the comforts of home and Marriotts award-winning hospitality at TownePlace Suites Dallas McKinney. Situated in vibrant north Dallas, the all-suite hotel in McKinney, TX, places you within a few minutes of Allen Premium Outlets and numerous restaurants. Experience a range of hotel amenities that seamlessly balance work and play, including a state-of-the-art fitness center, a 24-hour market and an on-site business center. Jumpstart the day at our hotel in McKinney, Texas, with complimentary, hot breakfast served daily and end your day lounging by our outdoor pool and BBQ grilling area. When you’re ready to unwind, stretch out in your hotel suite and watch a favorite movie on a 32-inch flat-screen TV with premium channels. The studio, one and two-bedroom suites include separate living and sleeping areas, complimentary Wi-Fi, a well-lit work desk, a full kitchen and daily housekeeping services.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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