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Hotel-Motel

Hawthorn Suites by Wyndham Richardson

250 Municipal Dr, Richardson, TX 75080

Listing Price: Request For Offer

Number of Rooms
72
RevPAR
$52
Gross SF
53,607
Year Built
1982

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 Hawthorn Suites (‘Hotel’ or ‘Property’) in Richardson, Texas. The Wyndham-branded Hotel will be sold on a call for offers basis, please inquire with listing agent for more information. The Hawthorn Suites is a seven-building, 72-room, two-story Hotel stationed at 250 Municipal Drive, just off U.S. Highway 75. The Property was originally constructed as an apartment complex and features several amenities of a well-positioned extended-stay asset, such as an outdoor pool, business center, meeting and event space, fitness center, and guest laundry facilities. Spacious guest rooms offer a ?at-screen television, refrigerator, microwave, and kitchenettes. The city of Richardson, Texas, is in Collin County and is a part of the greater Dallas/Fort Worth metroplex, located approximately 10 miles north of downtown Dallas. Richardson is home to the University of Texas Dallas (3 miles), and the Telecom Corridor - a high concentration of telecommunications companies including AT&T (1.4 miles), Verizon (2.6 miles), Cisco Systems (4 miles), MetroPCS (0.9 miles), and Texas Instruments (3 miles). The site is not only near many major employers but also countless entertainment options and attractions. The Hawthorn Suites Richardson is 1.5 miles from the Eisenmann Center for Performing Arts, 7.9 miles from the Dallas Galleria, 7.5 miles from Breckinridge Park, 3.9 miles from Adventure Landing, and 12.7 miles from the Dallas Arboretum and Botanical Garden. State Farm Insurance and Blue Cross and Blue Shield of Texas, two of the city's largest employers, are located approximately 2.8 and 1.6 miles from the Hotel, respectively, and are prime revenue drivers for the surrounding area. The extended-stay Hotel has solidified market penetration in the midscale space, recording over $1.36 million through the trailing twelve-month period ending November 2021. In the same period, the Property secured an operating income of nearly $662 thousand or 48.4 percent of total revenues, after a 4 percent capital replacement reserve. The strong operations present an opportunity for a new investor to acquire a well-positioned asset and collect exceptional cash flow.

Investment Highlights

  • Two-Story, 72-Room, Extended-Stay Hotel in the Dallas-Fort Worth Metropolitan Statistical Area
  • Located Within Richardson's Telecom Corridor Hosting Over 1,000+ Businesses
  • Strategic Position off U.S. 75 Expressway
  • Ideal In-Place Operations – Room Revenues Averaging Over $1.4 Million in 2018 and 2019
  • RevPAR Trending Upwards and Increased Over 48 Percent in T-12 November 2021 Compared to Year-End 2020

Exclusively Listed By

Financing By

Hotel-Motel

Hawthorn Suites by Wyndham Richardson

Listing Price: Request For Offer

Number of Rooms
72
RevPAR
$52
Gross SF
53,607
Year Built
1982

Investment Highlights

  • Two-Story, 72-Room, Extended-Stay Hotel in the Dallas-Fort Worth Metropolitan Statistical Area
  • Located Within Richardson's Telecom Corridor Hosting Over 1,000+ Businesses
  • Strategic Position off U.S. 75 Expressway
  • Ideal In-Place Operations – Room Revenues Averaging Over $1.4 Million in 2018 and 2019
  • RevPAR Trending Upwards and Increased Over 48 Percent in T-12 November 2021 Compared to Year-End 2020

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 Hawthorn Suites (‘Hotel’ or ‘Property’) in Richardson, Texas. The Wyndham-branded Hotel will be sold on a call for offers basis, please inquire with listing agent for more information. The Hawthorn Suites is a seven-building, 72-room, two-story Hotel stationed at 250 Municipal Drive, just off U.S. Highway 75. The Property was originally constructed as an apartment complex and features several amenities of a well-positioned extended-stay asset, such as an outdoor pool, business center, meeting and event space, fitness center, and guest laundry facilities. Spacious guest rooms offer a ?at-screen television, refrigerator, microwave, and kitchenettes. The city of Richardson, Texas, is in Collin County and is a part of the greater Dallas/Fort Worth metroplex, located approximately 10 miles north of downtown Dallas. Richardson is home to the University of Texas Dallas (3 miles), and the Telecom Corridor - a high concentration of telecommunications companies including AT&T (1.4 miles), Verizon (2.6 miles), Cisco Systems (4 miles), MetroPCS (0.9 miles), and Texas Instruments (3 miles). The site is not only near many major employers but also countless entertainment options and attractions. The Hawthorn Suites Richardson is 1.5 miles from the Eisenmann Center for Performing Arts, 7.9 miles from the Dallas Galleria, 7.5 miles from Breckinridge Park, 3.9 miles from Adventure Landing, and 12.7 miles from the Dallas Arboretum and Botanical Garden. State Farm Insurance and Blue Cross and Blue Shield of Texas, two of the city's largest employers, are located approximately 2.8 and 1.6 miles from the Hotel, respectively, and are prime revenue drivers for the surrounding area. The extended-stay Hotel has solidified market penetration in the midscale space, recording over $1.36 million through the trailing twelve-month period ending November 2021. In the same period, the Property secured an operating income of nearly $662 thousand or 48.4 percent of total revenues, after a 4 percent capital replacement reserve. The strong operations present an opportunity for a new investor to acquire a well-positioned asset and collect exceptional cash flow.

Exclusively Listed By

Financing By

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