Skip to main content

Hotel-Motel

Sleep Inn & Suites Killeen

700 East Central Texas Expressway, Killeen, TX 76541

Listing Price: $5,500,000

Cap Rate
4.89%
Number of Rooms
80
Price/Room
$68,750
Year Built
2006

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 Sleep Inn & Suites Near Fort Hood (‘Hotel’ or ‘Property’). The Choice-branded Hotel is offered at $5,500,000 or $68,750 per key. In 2020, Killeen broke a seven-year record of single-family building permits and ranks as the 6th fastest growing economy in the U.S. These record-breaking statistics can be attributed to the growth of Texas’ largest military base, Fort Hood – which is located less than five miles from the Property. Fort Hood houses nearly 65,000 soldiers and family members and has a 25-billion-dollar impact on the state economy. Additionally, the Hotel is located off Interstate 14, which records over 65,000 cars per day; allowing the Hotel to take advantage of other key demand generators in the vicinity, such as the Metroplex Hospital (5.7 miles), Central Texas College (6.2 miles), Texas A&M University – Central Texas (4.7 miles), and the Lions Club Water Park (2.2 miles). Killeen’s central location is about 60 miles from Austin and Waco, making it the perfect stop for travelers. The Hotel completed a full property improvement plan in March 2019 and has experienced RevPAR growth shown by the increase in RevPAR penetration. For the twelve-month period ending March 2021, the Hotel outperformed the STR defined competitive set and posted a RevPAR penetration index of 116 percent while recording an average occupancy percentage of 78.1 percent. In the same period, the Hotel achieved revenues above $1,357,000 room revenue. The expenses include provisions for a 4 percent capital replacement reserve and a 3 percent management fee.

Investment Highlights

  • Three-Story, 80-Room, Midscale Hotel Built in 2006
  • PIP completed March 2019
  • Located 60 Miles from Austin & Waco
  • Priced Below Replacement Cost at $68,750 Per Key
  • Excellent Location Near Fort Hood Military Base, Metroplex Hospital, Central Texas College, and Texas A&M University – Central Texas

Exclusively Listed By

Listing Price: $5,500,000

Cap Rate
4.89%
Number of Rooms
80
Price/Room
$68,750
Year Built
2006

Investment Highlights

  • Three-Story, 80-Room, Midscale Hotel Built in 2006
  • PIP completed March 2019
  • Located 60 Miles from Austin & Waco
  • Priced Below Replacement Cost at $68,750 Per Key
  • Excellent Location Near Fort Hood Military Base, Metroplex Hospital, Central Texas College, and Texas A&M University – Central Texas

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 Sleep Inn & Suites Near Fort Hood (‘Hotel’ or ‘Property’). The Choice-branded Hotel is offered at $5,500,000 or $68,750 per key. In 2020, Killeen broke a seven-year record of single-family building permits and ranks as the 6th fastest growing economy in the U.S. These record-breaking statistics can be attributed to the growth of Texas’ largest military base, Fort Hood – which is located less than five miles from the Property. Fort Hood houses nearly 65,000 soldiers and family members and has a 25-billion-dollar impact on the state economy. Additionally, the Hotel is located off Interstate 14, which records over 65,000 cars per day; allowing the Hotel to take advantage of other key demand generators in the vicinity, such as the Metroplex Hospital (5.7 miles), Central Texas College (6.2 miles), Texas A&M University – Central Texas (4.7 miles), and the Lions Club Water Park (2.2 miles). Killeen’s central location is about 60 miles from Austin and Waco, making it the perfect stop for travelers. The Hotel completed a full property improvement plan in March 2019 and has experienced RevPAR growth shown by the increase in RevPAR penetration. For the twelve-month period ending March 2021, the Hotel outperformed the STR defined competitive set and posted a RevPAR penetration index of 116 percent while recording an average occupancy percentage of 78.1 percent. In the same period, the Hotel achieved revenues above $1,357,000 room revenue. The expenses include provisions for a 4 percent capital replacement reserve and a 3 percent management fee.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower