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Hotel-Motel

La Quinta Inn & Suites by Wyndham Jacksonville

1902 S Jackson Street, Jacksonville, TX 75766

Listing Price: $3,700,000

Cap Rate
8.46%
Number of Rooms
62
Price/Room
$59,677
Year Built
2009

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Group is pleased to present for sale to qualified investors the La Quinta Inn & Suites in Jacksonville, Texas. The Hotel is offered at $3,700,000 or $59,677 per key. The Property located off Interstate 69, which records the highest number of cars per day in Jacksonville at 20,652. This prime location allows easy access to many of the city’s top employers including CHRISTUS Mother Frances Hospital (0.4 miles), Cardinal Health (2.8 miles), Stream Global (3.6 miles), and Stage Stores Distribution Center (5 miles). Furthermore, the Hotel is positioned near Tomato Bowl Stadium (3.5 miles), Adrenaline Rush Zip Line (6.6 miles), and Cherokee Trace Drive-Thru Safari (15 miles). This three-story, 62-room Hotel presents a new investor the chance to acquire an opportunistic asset with upside potential. The subject Property is currently underperforming the competitive set in RevPAR with a 78 percent RevPAR penetration Index. This offering presenting the opportunity for an experienced owner operator to increase daily rates and occupancy percentages through better marketing strategies. Additionally, a deeper look at departmental expenses will show current inefficiencies in operations with the opportunity to implement better revenue management strategies and cost controls. The expenses include provisions for a 3 percent management fee. The hotel is offered fee simple, unencumbered by a management contract and debt.

Investment Highlights

  • Three-Story, 62-Room, Midscale Hotel Built in 2009
  • Priced Below Replacement Costs at $59,677 per Key
  • Excellent Access and Visibility from Interstate 69
  • Operational Upside for Hands-On Owner-Operator Experienced in Revenue Management
  • Offered Fee Simple, Unencumbered by a Management Contract and Debt

Exclusively Listed By

Hotel-Motel

La Quinta Inn & Suites by Wyndham Jacksonville

Listing Price: $3,700,000

Cap Rate
8.46%
Number of Rooms
62
Price/Room
$59,677
Year Built
2009

Investment Highlights

  • Three-Story, 62-Room, Midscale Hotel Built in 2009
  • Priced Below Replacement Costs at $59,677 per Key
  • Excellent Access and Visibility from Interstate 69
  • Operational Upside for Hands-On Owner-Operator Experienced in Revenue Management
  • Offered Fee Simple, Unencumbered by a Management Contract and Debt

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Group is pleased to present for sale to qualified investors the La Quinta Inn & Suites in Jacksonville, Texas. The Hotel is offered at $3,700,000 or $59,677 per key. The Property located off Interstate 69, which records the highest number of cars per day in Jacksonville at 20,652. This prime location allows easy access to many of the city’s top employers including CHRISTUS Mother Frances Hospital (0.4 miles), Cardinal Health (2.8 miles), Stream Global (3.6 miles), and Stage Stores Distribution Center (5 miles). Furthermore, the Hotel is positioned near Tomato Bowl Stadium (3.5 miles), Adrenaline Rush Zip Line (6.6 miles), and Cherokee Trace Drive-Thru Safari (15 miles). This three-story, 62-room Hotel presents a new investor the chance to acquire an opportunistic asset with upside potential. The subject Property is currently underperforming the competitive set in RevPAR with a 78 percent RevPAR penetration Index. This offering presenting the opportunity for an experienced owner operator to increase daily rates and occupancy percentages through better marketing strategies. Additionally, a deeper look at departmental expenses will show current inefficiencies in operations with the opportunity to implement better revenue management strategies and cost controls. The expenses include provisions for a 3 percent management fee. The hotel is offered fee simple, unencumbered by a management contract and debt.

Exclusively Listed By

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