4003 S Loop 289 - Hospitality FOR SALE


Lubbock, TX 79423- Kings Park
$6,400,000 USD
972-810-7729
4003 S Loop 289, Lubbock, TX for Sale
$6,400,000 USD
Hospitality - FOR SALE
1/42
null | Request Cap Rate

4003 S Loop 289
Lubbock, TX 79423
Kings Park


HIGHLIGHTS

  • 80 Rooms over 3 floors
  • Spark Hotel conversion already in process
  • $200K Tech package upgrade complete
  • Texas Tech University - 6 miles
  • Depot District - 7 miles
  • West Texas Walk of Fame - 7 miles

OVERVIEW

Please visit www.tabanirealty.com/listings for more information. Property Description This exceptional hotel property is proud to be part of the esteemed Hilton Hotel family, offering the added advantage of Hilton Brand support. It has recently been approved by Hilton for conversion to Spark by Hilton and has already completed a $200K Tech package upgrade. Remaining PIP is estimated to be ~$1mm. The hotel can operate as a Hampton until the conversion is complete. The new owner will be responsible for the conversion to the Spark flag. With a 37,368 SF building featuring 80 well-appointed units, the property represents an enticing prospect for Limited Service investors. Contact Broker for details on timing and other conversion information. Positioned with HDR zoning in the desirable Lubbock area, this investment presents promising returns and strategic growth opportunities. Seize the opportunity to leverage the property's established presence and impressive capacity to cater to the needs of the thriving hospitality market, backed by the renowned Hilton brand. Location Description Discover the vibrant city of Lubbock, TX. Situated in the bustling South Loop 289 district, this area offers prime investment potential for Hospitality and Full Service investors. Guests can explore local attractions such as Texas Tech University, the Buddy Holly Center, and the National Ranching Heritage Center. Nearby amenities include a range of dining options, shopping centers, and entertainment venues. Additionally, Mackenzie Park and the iconic West Texas Walk of Fame are both within nine minutes of the hotel. The property benefits from convenient access to major highways, including US Route 84 and US Route 62. These routes provide seamless connectivity to the rest of Lubbock and beyond. Notable demand generators in the vicinity include the Texas Tech University campus, the Lubbock Preston Smith International Airport, and the South Plains Mall. With a growing economy and a strong tourism industry, the location presents an exciting opportunity for investors seeking to capitalize on the thriving hospitality market in Lubbock, TX.

FOR SALE DETAILS

PRICE

$6,400,000 USD

PRICE/SF

$149 USD /SF

# OF ROOMS

80

PRICE/ROOM

$80,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hampton Inn Lubbock - Converting to Spark

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1996

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.42 AC

LAND SF

61,855 SF

ZONING

F1

APN/PARCEL ID

R139682

ASK ABOUT THIS PROPERTY

Salman TabaniTabani RealtyMore Info
972-810-7729

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Salman TabaniTabani RealtyMore Info
972-810-7729

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