323 Louetta Rd - Hospitality FOR SALE


Spring, TX 77373- Old Town Spring
$5,000,000 USD
818-851-3315
323 Louetta Rd, Spring, TX for Sale
$5,000,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

323 Louetta Rd
Spring, TX 77373
Old Town Spring


HIGHLIGHTS

  • 62 rooms, 3 Story, Interior Corridors, Built in 2008
  • 2024 Revenue Over $1.4M (Asking 3.5X Revenue)
  • Great Location in Growing Houston Area Suburb Near Multiple Corporate and Leisure Demand Generators
  • Corporate Headquarters for ExxonMobil, Hewlett Packard (HP), and Union Pacific Railroad All Nearby
  • Next-door to Six Flags Hurricane Harbor Water Park and Nearby Popular Old Town Spring Shopping & Dining District
  • Seller's PIP Completed, Absentee Ownership

OVERVIEW

The Comfort Suites is located in Spring, TX, a growing suburb of the Houston area. Several major corporations such as ExxonMobil, Hewlett Packard (HP), and Union Pacific Railroad are headquartered in Spring, TX drawing corporate demand to the area. The business also benefits from leisure demand generators including Six Flags Hurricane Harbor (right next-door to the Comfort Suites) and Old Town Spring, a popular shopping and dining district nearby. The Comfort Suites has convenient access to Interstate 45, a heavily traveled route connecting Houston with Dallas, and is a short 30-minute drive to downtown Houston. Houston is the second-fastest growing metro area in the U.S. and the fifth-largest metro area in the country, with a population over 7 million. In 2024, Houston welcomed over 54 million visitors marking a new record and surpassing pre-pandemic levels. This is a 6% increase from 2023 and a 10% increase from 2019. Houston's growing popularity as a business and leisure travel destination contributes to this growth. Houston is the most ethnically diverse city in the U.S. with a wide range of food and cultural offerings. The current owner's PIP is complete, providing cost-savings for new ownership. Current ownership is absentee providing opportunity for improved profitability with hands-on management. Interested buyers are invited to contact us if you have further interest in this opportunity, would like to visit the property, or submit an offer. All property visits are by appointment only. Please do not contact the hotel or speak with the staff.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$114 USD /SF

# OF ROOMS

62

PRICE/ROOM

$80,645 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Comfort Suites Old Town Spring

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2008

PARKING SPACES

120

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

N

APN/PARCEL ID

1310970010002

ASK ABOUT THIS PROPERTY

Oliver CooperAmber Hotel CompanyMore Info
818-851-3315

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Oliver CooperAmber Hotel CompanyMore Info
818-851-3315

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.