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Hotel-Motel

My Place Hotel - Midland, TX

401 E Interstate 20, Midland, TX 79701

Listing Price: Request For Offer

Number of Rooms
64
RevPAR
$57
Gross SF
87,120
Year Built
2020

Investment Overview

Property Details: The My Place Hotel Midland (‘Hotel’ or ‘Property’) is a 64-room, three-story, extended-stay Hotel recently built on two acres in Midland, Texas, and is in the heart of the Permian Basin. Prime Location: Located off Interstate 20, which records over 41,000 vehicles per day, the Property is visible from the expressway and is nestled close to some of Midlands prominent demand generators. The Hotel is a short drive from Midland Central Business District (2.3 miles) the convention center (1.9 miles), iconic Petroleum club (2.3 miles), and Scharbauer Sports Complex (5.4 miles). New Construction Opportunity: Opened in November 2020, the My Place Hotel is the newest midscale, extended-stay hotel in the submarket and is expected to have a minimal change of ownership PIP upon sale. Submarket Growth: In 2020, Midland ranked first in GDP growth and is the seventeenth fastest growing city in the United States according to the Kinder Institute for Urban Research. Permian Basin Oil Field: Midland is situated in the Permian Basin, which houses the most productive oil field in the United States – the Mid-Continental Oil Field. The Mid-Continental Oil Field is estimated to contain 190 billion barrels in Texas alone. The greater Permian Basin accounts for nearly 40 percent of all oil production in the United States and nearly 15 percent of its natural gas production, according to the Federal Reserve Bank of Dallas. Oil and Gas Business: Midland is the corporate headquarters for over 20 energy firms that have a primary focus on the Permian Basin. Energy firms such as Anthem Oil & Gas, Anadarko, Apache, Baker Hughes, Chevron, Conoco Phillips, Occidental Petroleum, Diamondback Energy, and Halliburton Energy are all located less than 10 miles from the Property. Airport Proximity: The Hotel is 10.5 miles from Midland International Air and Space Port, ranked eighth in Texas for commercial service.

Investment Highlights

  • Three-Story, 64-Room, My Place-Branded Hotel Built in 2020
  • Minimal Change of Ownership PIP, If Any
  • Growing Submarket: Ranked First in GDP Growth and Seventeenth in City Growth
  • Located within the Permian Basin, the Most Productive Oil Field in the United States
  • Multiple Oil and Gas Operations Nearby
  • 10.5 Miles from Midland International Air and Space Port

Exclusively Listed By

Hotel-Motel

My Place Hotel - Midland, TX

Listing Price: Request For Offer

Number of Rooms
64
RevPAR
$57
Gross SF
87,120
Year Built
2020

Investment Highlights

  • Three-Story, 64-Room, My Place-Branded Hotel Built in 2020
  • Minimal Change of Ownership PIP, If Any
  • Growing Submarket: Ranked First in GDP Growth and Seventeenth in City Growth
  • Located within the Permian Basin, the Most Productive Oil Field in the United States
  • Multiple Oil and Gas Operations Nearby
  • 10.5 Miles from Midland International Air and Space Port

Investment Overview

Property Details: The My Place Hotel Midland (‘Hotel’ or ‘Property’) is a 64-room, three-story, extended-stay Hotel recently built on two acres in Midland, Texas, and is in the heart of the Permian Basin. Prime Location: Located off Interstate 20, which records over 41,000 vehicles per day, the Property is visible from the expressway and is nestled close to some of Midlands prominent demand generators. The Hotel is a short drive from Midland Central Business District (2.3 miles) the convention center (1.9 miles), iconic Petroleum club (2.3 miles), and Scharbauer Sports Complex (5.4 miles). New Construction Opportunity: Opened in November 2020, the My Place Hotel is the newest midscale, extended-stay hotel in the submarket and is expected to have a minimal change of ownership PIP upon sale. Submarket Growth: In 2020, Midland ranked first in GDP growth and is the seventeenth fastest growing city in the United States according to the Kinder Institute for Urban Research. Permian Basin Oil Field: Midland is situated in the Permian Basin, which houses the most productive oil field in the United States – the Mid-Continental Oil Field. The Mid-Continental Oil Field is estimated to contain 190 billion barrels in Texas alone. The greater Permian Basin accounts for nearly 40 percent of all oil production in the United States and nearly 15 percent of its natural gas production, according to the Federal Reserve Bank of Dallas. Oil and Gas Business: Midland is the corporate headquarters for over 20 energy firms that have a primary focus on the Permian Basin. Energy firms such as Anthem Oil & Gas, Anadarko, Apache, Baker Hughes, Chevron, Conoco Phillips, Occidental Petroleum, Diamondback Energy, and Halliburton Energy are all located less than 10 miles from the Property. Airport Proximity: The Hotel is 10.5 miles from Midland International Air and Space Port, ranked eighth in Texas for commercial service.

Exclusively Listed By

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