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Hotel-Motel

Best Western Plus Shamrock Inn & Suites

1802 North Main Street, Shamrock, TX 79079

Listing Price: $2,600,000

Cap Rate
7.66%
Number of Rooms
47
RevPAR
$41
Price/Room
$55,319
RRM
3.60
Year Built
2002

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Best Western Plus Shamrock Inn & Suites (‘Hotel’ or ‘Property’). The Best Western-branded Hotel is offered at $2,600,000 or $55,319 per key. Shamrock, Texas is in the Texas Panhandle, 110 miles east of Amarillo, 188 miles west of Oklahoma City, and 291 miles northwest of Dallas. The Hotel is situated just off Interstate 40 and Main Street, which records over 14,000 vehicles per day. The Hotel's strategic location provides easy access to various demand generators such as Enbridge Energy (9.7 miles), Shamrock General Hospital (2.4 miles), and Pioneer West Museum (1.2 miles). The city is located on the Historic U.S. Route 66 , or the “Main Street of America,” well known for its historic sights and attractions. The historic CONOCO Tower Station and U-Drop Inn Café, an iconic Art-Deco building dating back to the Great Depression, attract travelers from all over. Annual social gatherings are organized each year to celebrate the founder's heritage. Thousands visit Shamrock annually to partake in the longstanding St. Patrick’s Day celebration, this year marking the 75-year annual celebration. Operationally, the three-story Hotel has consistently outperformed the STR-defined competitive set and posted a RevPAR Penetration Index of 133 percent for the trailing twelve months ending June 2021. Room Revenues are trending upwards and have seen double digit percentage increases from year-end 2020. While current ownership has completed the majority of renovations for the most recent property improvement plan, there are 22 remaining guest rooms that will require updating the case goods. Current expenses include provisions for a 4 percent capital replacement reserve. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • Three-Story, 47-Room, Upper-Midscale Hotel Built in 2002
  • Priced Below Replacement Cost at $55,319 Per Key
  • Excellent Location Near a Variety of Business and Leisure Demand Generators
  • 2021 Revenues Trending Upwards
  • Outperforming the Submarket, Posting a RevPAR Penetration Index of 133 Percent
  • Fee Simple Offering, Unencumbered by a Management Contract or Debt

Exclusively Listed By

Hotel-Motel

Best Western Plus Shamrock Inn & Suites

Listing Price: $2,600,000

Cap Rate
7.66%
Number of Rooms
47
RevPAR
$41
Price/Room
$55,319
RRM
3.60
Year Built
2002

Investment Highlights

  • Three-Story, 47-Room, Upper-Midscale Hotel Built in 2002
  • Priced Below Replacement Cost at $55,319 Per Key
  • Excellent Location Near a Variety of Business and Leisure Demand Generators
  • 2021 Revenues Trending Upwards
  • Outperforming the Submarket, Posting a RevPAR Penetration Index of 133 Percent
  • Fee Simple Offering, Unencumbered by a Management Contract or Debt

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Best Western Plus Shamrock Inn & Suites (‘Hotel’ or ‘Property’). The Best Western-branded Hotel is offered at $2,600,000 or $55,319 per key. Shamrock, Texas is in the Texas Panhandle, 110 miles east of Amarillo, 188 miles west of Oklahoma City, and 291 miles northwest of Dallas. The Hotel is situated just off Interstate 40 and Main Street, which records over 14,000 vehicles per day. The Hotel's strategic location provides easy access to various demand generators such as Enbridge Energy (9.7 miles), Shamrock General Hospital (2.4 miles), and Pioneer West Museum (1.2 miles). The city is located on the Historic U.S. Route 66 , or the “Main Street of America,” well known for its historic sights and attractions. The historic CONOCO Tower Station and U-Drop Inn Café, an iconic Art-Deco building dating back to the Great Depression, attract travelers from all over. Annual social gatherings are organized each year to celebrate the founder's heritage. Thousands visit Shamrock annually to partake in the longstanding St. Patrick’s Day celebration, this year marking the 75-year annual celebration. Operationally, the three-story Hotel has consistently outperformed the STR-defined competitive set and posted a RevPAR Penetration Index of 133 percent for the trailing twelve months ending June 2021. Room Revenues are trending upwards and have seen double digit percentage increases from year-end 2020. While current ownership has completed the majority of renovations for the most recent property improvement plan, there are 22 remaining guest rooms that will require updating the case goods. Current expenses include provisions for a 4 percent capital replacement reserve. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

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