3023 E Hwy 80 - Hospitality FOR SALE


Odessa, TX 79761
$3,900,000 USD
281-684-5653
3023 E Hwy 80, Odessa, TX for Sale
$3,900,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

3023 E Hwy 80
Odessa, TX 79761


HIGHLIGHTS

  • Per the December 2024 STR report, the hotel ranked third out of five competitors in terms of RevPAR, registering a 131.2% RevPAR index.
  • A new investor will be able to capitalize on the strong demand trends of the market.
  • The hotel was recently converted to a Baymont by Wyndham in 2023; thus, a minor change-of-ownership property improvement plan (PIP) is expected.
  • Odessa Development Corporation (ODC) approved a 150-acre, mixed-use development near the hotel, expected to open in the spring of 2025.
  • The region has strong oil-and-gas (O&G) presence from companies such as Chevron, ExxonMobil, ConocoPhillips, and others.
  • Ecopetrol & Occidental Petroleum announced plans to invest over $880M in 2025 to drill approximately 90 wells in the Midland and Delaware sub-basins.

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=144749 HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 75-key Baymont by Wyndham Odessa - University Area, a limited-service hotel asset in Odessa, Texas. This strong-performing hotel asset benefits from its proximity to University of Texas Permian Basin (UTPB), Midland International Air & Space Port, and Downtown Odessa. PRICE REDUCTION: $3,900,000 Ownership is motivated to sell the property and has agreed to reduce the price to $3,900,000, or $52,000 per key. Please contact Matthew Omansky at momansky@hvs.com for more details.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$160 USD /SF

# OF ROOMS

75

PRICE/ROOM

$52,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Baymont by Wyndham Odessa University Area

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1980

PARKING SPACES

102

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,119 SF

ZONING

EF7

APN/PARCEL ID

10700-00160-00000

ASK ABOUT THIS PROPERTY

281-684-5653

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281-684-5653

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