Hotel-Motel

Comfort Inn Early Brownwood

204 Early Blvd, Early, TX 76802

Listing Price: $4,250,000

Cap Rate
7.18%
Number of Rooms
53
RevPAR
$61
Gross SF
28,224
Price/Room
$80,189
RRM
3.62
Price/Gross SF
$150.58
Year Built
2004

Investment Overview

Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Comfort Inn Early Brownwood. The Choice-branded hotel is offered at $4,250,000 or $80,189 per key and sits on 1.4 acres along US Hwy 84 E.

Located half a mile from Heartland Mall, 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 in Early, the US Hwy 84 corridor daily traffic counts exceed 25,800, the largest in Early/Brownwood.

This three-story, 53-room hotel presents a new investor the chance to acquire this opportunistic asset in Early/Brownwood. The hotel's franchise will require a change-of-ownership PIP. With year-to-date hotel RevPAR index above 90% due to below-market ADR, the hotel offers further opportunity for rate escalation from a new owner; additionally, a deeper look at departmental expenses will show current inefficiencies in operations with upside available to see an increase in EBITDA.

Located in the heart of the Texas Hill Country, and home to Lake Brownwood State Park, Early/Brownwood houses an abundance of economic drivers that boost the hospitality market. Some notable major employers near the hotel include Kohler, 3M, Superior Essex Corp, and Texas Youth Commission. Furthermore, the Howard Payne University, Brownwood Regional Medical Center, and the Brown County Museum of History are all a short drive away. Lastly, the property benefits greatly from its location to Brownwood Regional Airport and the surrounding economic impact of the airport.

Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • Half a Mile from Heartland Mall & Seven Miles from Kohler
  • 53-Room, Interior Corridor, Midscale Hotel Built in 2004
  • Priced Below Replace Cost at $80,189 Per Key
  • The Choice Move to Modern PIP was completed in December 2020
  • 91% RevPAR Index -- Offers Upside to Increase Room Rates to be Competitive in Market
  • Ability for Hands-On-Owner-Operator to Decrease Expenses & Increase NOI

Exclusively Listed By

Hotel-Motel

Comfort Inn Early Brownwood

Listing Price: $4,250,000

Cap Rate
7.18%
Number of Rooms
53
RevPAR
$61
Gross SF
28,224
Price/Room
$80,189
RRM
3.62
Price/Gross SF
$150.58
Year Built
2004

Investment Highlights

  • Half a Mile from Heartland Mall & Seven Miles from Kohler
  • 53-Room, Interior Corridor, Midscale Hotel Built in 2004
  • Priced Below Replace Cost at $80,189 Per Key
  • The Choice Move to Modern PIP was completed in December 2020
  • 91% RevPAR Index -- Offers Upside to Increase Room Rates to be Competitive in Market
  • Ability for Hands-On-Owner-Operator to Decrease Expenses & Increase NOI

Investment Overview

Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Comfort Inn Early Brownwood. The Choice-branded hotel is offered at $4,250,000 or $80,189 per key and sits on 1.4 acres along US Hwy 84 E.

Located half a mile from Heartland Mall, 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 in Early, the US Hwy 84 corridor daily traffic counts exceed 25,800, the largest in Early/Brownwood.

This three-story, 53-room hotel presents a new investor the chance to acquire this opportunistic asset in Early/Brownwood. The hotel's franchise will require a change-of-ownership PIP. With year-to-date hotel RevPAR index above 90% due to below-market ADR, the hotel offers further opportunity for rate escalation from a new owner; additionally, a deeper look at departmental expenses will show current inefficiencies in operations with upside available to see an increase in EBITDA.

Located in the heart of the Texas Hill Country, and home to Lake Brownwood State Park, Early/Brownwood houses an abundance of economic drivers that boost the hospitality market. Some notable major employers near the hotel include Kohler, 3M, Superior Essex Corp, and Texas Youth Commission. Furthermore, the Howard Payne University, Brownwood Regional Medical Center, and the Brown County Museum of History are all a short drive away. Lastly, the property benefits greatly from its location to Brownwood Regional Airport and the surrounding economic impact of the airport.

Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower