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Hotel-Motel

Rodeway Inn & Suites Hillsboro

203 Outlet Drive, Hillsboro, TX 76645

Listing Price: $3,100,000

Cap Rate
2.44%
Number of Rooms
65
Price/Room
$47,692
Year Built
2009

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 Rodeway Inn & Suites Hillsboro. The Choice Hotels International-branded hotel is offered at $3,100,000 or $47,692 per key and sits on 2.21 acres 60 miles south of the Dallas-Fort Worth metropolitan statistical area (MSA). Originally developed as a Comfort Suites in 2009, this three-story, 65 room all-suite hotel is positioned off the busy Interstate-35 and Texas Lakes Trail and has over 56,000 daily traffic counts. The property is located near many key demand generators, such as the Outlets at Hillsboro, Lake Whiney State Park, the Texas Heritage Museum, and Hill College, which hosts many scholastic and sporting events throughout the year. Historically, the property has generated a net operating income of over 18 percent of total revenues, which translates to $149,467 in 2018 and $145,454 in 2019. A further look at departmental expenses shows the ability of a hands-on-owner-operator to implement better expense management strategies. Further opportunities exist for an owner-operator looking to reposition the asset. Additionally, there are multiple re-branding opportunities that can be explored by a new investor. 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

  • Priced Below Replacement Cost at $47,692 Per Key
  • 65-Room, Interior Corridor, All-Suites Choice Hotels International, Inc. Branded Hotel Built in 2009 (Formerly Comfort Suites)
  • Ability for Hands-On-Owner-Operator to Decrease Expenses and Increase Net Operating Income
  • Unencumbered by a Management Contract or Debt
  • Multiple Branding Options Available: Contact Listing Agents for More Information

Exclusively Listed By

Hotel-Motel

Rodeway Inn & Suites Hillsboro

Listing Price: $3,100,000

Cap Rate
2.44%
Number of Rooms
65
Price/Room
$47,692
Year Built
2009

Investment Highlights

  • Priced Below Replacement Cost at $47,692 Per Key
  • 65-Room, Interior Corridor, All-Suites Choice Hotels International, Inc. Branded Hotel Built in 2009 (Formerly Comfort Suites)
  • Ability for Hands-On-Owner-Operator to Decrease Expenses and Increase Net Operating Income
  • Unencumbered by a Management Contract or Debt
  • Multiple Branding Options Available: Contact Listing Agents for More Information

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 Rodeway Inn & Suites Hillsboro. The Choice Hotels International-branded hotel is offered at $3,100,000 or $47,692 per key and sits on 2.21 acres 60 miles south of the Dallas-Fort Worth metropolitan statistical area (MSA). Originally developed as a Comfort Suites in 2009, this three-story, 65 room all-suite hotel is positioned off the busy Interstate-35 and Texas Lakes Trail and has over 56,000 daily traffic counts. The property is located near many key demand generators, such as the Outlets at Hillsboro, Lake Whiney State Park, the Texas Heritage Museum, and Hill College, which hosts many scholastic and sporting events throughout the year. Historically, the property has generated a net operating income of over 18 percent of total revenues, which translates to $149,467 in 2018 and $145,454 in 2019. A further look at departmental expenses shows the ability of a hands-on-owner-operator to implement better expense management strategies. Further opportunities exist for an owner-operator looking to reposition the asset. Additionally, there are multiple re-branding opportunities that can be explored by a new investor. 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

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