1924 St Michael Dr, Texarkana, TX 75503
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Studio Inn Extended Stay - Texarkana. The independent hotel is offered on a Request for Offers basis and sits on 1.86 acres within the Texarkana TX-AR MSA.
Located five miles from Texarkana Regional Airport, the hotel is properly positioned to take advantage of business and leisure travel in the market. With a substantial amount of travel and daily commutes along I-30 and St Michael Dr interchange, the hotel is poised to capitalize on daily traffic counts exceeding 41,000.
This two-story, 76-room hotel was originally built as a corporate-owned Motel 6. The current owner converted the asset to an independent hotel in 2018. Forty-six of the 76 rooms have been converted to extended-stay units. All 46 units contain kitchenettes. Current ownership is absentee. New ownership can benefit from hands-on management.
Popularly known as a major distribution hub, and home to Texas A&M University - Texarkana, Texarkana houses an abundance of economic drivers that boost the hospitality market. Some notable major employers near the hotel include Red River Army Depot, The Museum of General History, and Texarkana College. Furthermore, Webb Field services the four-state region and provides commercial jet service to DFW. The Dallas/Fort Worth MSA is approximately 2.5 hours away; Shreveport, Louisiana is 1.25 miles from the hotel.
Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Studio Inn Extended Stay - Texarkana. The independent hotel is offered on a Request for Offers basis and sits on 1.86 acres within the Texarkana TX-AR MSA.
Located five miles from Texarkana Regional Airport, the hotel is properly positioned to take advantage of business and leisure travel in the market. With a substantial amount of travel and daily commutes along I-30 and St Michael Dr interchange, the hotel is poised to capitalize on daily traffic counts exceeding 41,000.
This two-story, 76-room hotel was originally built as a corporate-owned Motel 6. The current owner converted the asset to an independent hotel in 2018. Forty-six of the 76 rooms have been converted to extended-stay units. All 46 units contain kitchenettes. Current ownership is absentee. New ownership can benefit from hands-on management.
Popularly known as a major distribution hub, and home to Texas A&M University - Texarkana, Texarkana houses an abundance of economic drivers that boost the hospitality market. Some notable major employers near the hotel include Red River Army Depot, The Museum of General History, and Texarkana College. Furthermore, Webb Field services the four-state region and provides commercial jet service to DFW. The Dallas/Fort Worth MSA is approximately 2.5 hours away; Shreveport, Louisiana is 1.25 miles from the hotel.
Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.
