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Hotel-Motel

Red Roof Inn San Antonio Northeast - Rittiman Rd

4621 Rittiman Rd, San Antonio, TX 78218

Listing Price: $4,450,000

Cap Rate
9.08%
Number of Rooms
102
RevPAR
$30
Price/Room
$43,627
RRM
4.02
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 Red Roof Inn San Antonio Northeast (‘Hotel’ or ‘Property’). The Red Roof-branded Hotel is offered at $4,450,000 or $43,627 per key. The Red Roof Inn San Antonio Northeast is a four-story, 102-room Hotel stationed at 4621 Rittiman Road, providing excellent visibility and accessibility from Interstate 410. This economy Hotel is well equipped with many common area amenities including an outdoor pool and coffee bar. Spacious guest rooms include flat-screen TVs, microwaves, refrigerators, iron & ironing boards, and work desks. The city of San Antonio, Texas, is in Bexar County, approximately 75 miles southwest of Austin, Texas, and 250 miles south of Dallas-Fort Worth Area. With the city's popular room generators near the Property, this Hotel benefits from many key industries of the city. The region is known for its military, health care, government-civil service, financial services, oil and gas industries and attracts over 20 million visitors each year. The Hotel directly benefits from the room demand generated from the San Antonio Airport (8.9 miles), which services over 4.84 million passengers annually, and Fort Sam Houston Military Base (4.7 miles), home to nearly 162 thousand residents including active duty, family members, and retirees. Other notable demand generators include the Henry B. Gonzales Convention Center (8.1 miles), the Alamodome (8.3 miles), San Antonio Zoo (8.5 miles), the San Antonio Riverwalk (7.6 miles), the Historic Alamo Mission (7.6 miles), and Six Flags Fiesta Texas (21.5 miles). In 2020, the limited-service Hotel recorded room revenues of over $754,500 and a net operating income above $124,800, or 16.5 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. Room Revenues have increased significantly, recording a jump to $1.1 million through the trailing twelve-months ending November 2021, compared to year-end 2020. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.

Investment Highlights

  • Four-Story, 102-Room, Exterior-Corridor Hotel in the San Antonio
  • Priced Below Replacement Cost at $43,627 Per Key
  • Excellent Visibility and Accessible from Interstate 410
  • Strategic Location near San Antonio's Largest Employers and Most Notable Demand Generators
  • RevPAR Increase of 46.70 Percent Since Year End 2020
  • Onsite Owner's Apartment with 3 Bedrooms and 2 Bathrooms
  • Offered Fee-Simple, Unencumbered by Management Contract or Debt

Exclusively Listed By

Hotel-Motel

Red Roof Inn San Antonio Northeast - Rittiman Rd

Listing Price: $4,450,000

Cap Rate
9.08%
Number of Rooms
102
RevPAR
$30
Price/Room
$43,627
RRM
4.02
Year Built
1982

Investment Highlights

  • Four-Story, 102-Room, Exterior-Corridor Hotel in the San Antonio
  • Priced Below Replacement Cost at $43,627 Per Key
  • Excellent Visibility and Accessible from Interstate 410
  • Strategic Location near San Antonio's Largest Employers and Most Notable Demand Generators
  • RevPAR Increase of 46.70 Percent Since Year End 2020
  • Onsite Owner's Apartment with 3 Bedrooms and 2 Bathrooms
  • Offered Fee-Simple, Unencumbered by 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 Red Roof Inn San Antonio Northeast (‘Hotel’ or ‘Property’). The Red Roof-branded Hotel is offered at $4,450,000 or $43,627 per key. The Red Roof Inn San Antonio Northeast is a four-story, 102-room Hotel stationed at 4621 Rittiman Road, providing excellent visibility and accessibility from Interstate 410. This economy Hotel is well equipped with many common area amenities including an outdoor pool and coffee bar. Spacious guest rooms include flat-screen TVs, microwaves, refrigerators, iron & ironing boards, and work desks. The city of San Antonio, Texas, is in Bexar County, approximately 75 miles southwest of Austin, Texas, and 250 miles south of Dallas-Fort Worth Area. With the city's popular room generators near the Property, this Hotel benefits from many key industries of the city. The region is known for its military, health care, government-civil service, financial services, oil and gas industries and attracts over 20 million visitors each year. The Hotel directly benefits from the room demand generated from the San Antonio Airport (8.9 miles), which services over 4.84 million passengers annually, and Fort Sam Houston Military Base (4.7 miles), home to nearly 162 thousand residents including active duty, family members, and retirees. Other notable demand generators include the Henry B. Gonzales Convention Center (8.1 miles), the Alamodome (8.3 miles), San Antonio Zoo (8.5 miles), the San Antonio Riverwalk (7.6 miles), the Historic Alamo Mission (7.6 miles), and Six Flags Fiesta Texas (21.5 miles). In 2020, the limited-service Hotel recorded room revenues of over $754,500 and a net operating income above $124,800, or 16.5 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. Room Revenues have increased significantly, recording a jump to $1.1 million through the trailing twelve-months ending November 2021, compared to year-end 2020. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.

Exclusively Listed By

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