143 Express Blvd - Hospitality FOR SALE


Center, TX 75935
$5,400,000 USD
281-684-5653
143 Express Blvd, Center, TX for Sale
$5,400,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

143 Express Blvd
Center, TX 75935


HIGHLIGHTS

  • Since acquiring the property in 2021, the hotel has averaged $1,551,283 in annual rooms revenue, with 2024 finishing at $1,563,812.
  • In 2021/2022, ownership spent approximately $1,300,000, or $15,000 per key, to complete the Formula Blue property improvement plan (PIP).
  • Based on the hotel’s 2024 rooms revenue of $1,560,000 (rounded), the deal underwrites to a competitive 3.48x RRM; Minor PIP expected.
  • The hotel is one of only three upper-midscale hotels in the Center, Texas, lodging market, alongside the Hampton Inn & Suites and Best Western Plus.
  • The hotel benefits from its strong competitive positioning given the market’s limited brand saturation & consistent demand driven by IHG affiliation.
  • Upon completion of change-of-ownership PIP, an investor can expect a new long-term IHG franchise license agreement, enhancing long-term brand security

OVERVIEW

For more information, please visit the HVS marketing website to electronically execute the confidentiality agreement and get access to the Virtual Deal Room (VDR): https://brokerage.hvs.com/listing/?id=152262 HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 60-key Holiday Inn Express & Suites Center, a limited-service hotel asset in Center, Texas. A more hands-on investor will have the ability to realize the significant upside of renovating and owning a hotel property with further potential at a price well below replacement cost.

FOR SALE DETAILS

PRICE

$5,400,000 USD

PRICE/SF

$147 USD /SF

# OF ROOMS

60

PRICE/ROOM

$90,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express & Suites Center

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2007

PARKING SPACES

89

LAND DETAILS

LAND ACRES

3 AC

LAND SF

130,680 SF

ZONING

Commercial

APN/PARCEL ID

1906440093004440

ASK ABOUT THIS PROPERTY

281-684-5653

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281-684-5653

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