600 US Highway 59 S - Hospitality FOR SALE


Cleveland, TX 77327
$6,950,000 USD
713-955-5580
600 US Highway 59 S, Cleveland, TX for Sale
$6,950,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

600 US Highway 59 S
Cleveland, TX 77327


HIGHLIGHTS

  • Ideal opportunity for a new investor to benefit from a recently renovated Holiday Inn Express & Suites in a growing market within a major Texas MSA.
  • Over $2.1 million spent to renovate multiple areas of the property with the brand’s Formula Blue 2.0 design scheme.
  • Third-party managed, opportunity for an experienced owner/operator to reduce expenses and improve cash-flows.
  • Property achieved $2,000,000 in revenues last year, a year-over-year increase of 27.3%.
  • BNSF Railway is developing the Logistics Center North Houston at Cleveland, a 1,200-acre industrial and business park in Cleveland, Texas.
  • The property benefits from excellent visibility along the Interstate 69 frontage road, near the State Highway 105 interchange.

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): LINK HERE HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 84-key Comfort Suites Austin Airport, a recently renovated, limited-service hotel in the highly sought-after Austin market. A more hands-on owner/operator will have the opportunity to acquire a recently renovated hotel asset within the high barriers-to-entry market of Austin, with upside to restructure the hotel’s operations by reducing expenses and improving net operating income (NOI) flow-through. PRICE REDUCTION: $8,500,000??????? Ownership is motivated to sell the property and has agreed to reduce the price to $8,500,000, or $101,190 per key. Please contact James Rebullida for more details.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$161 USD /SF

# OF ROOMS

68

PRICE/ROOM

$102,206 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express & Suites Cleveland

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2011

PARKING SPACES

62

LAND DETAILS

LAND ACRES

2.23 AC

LAND SF

97,139 SF

ZONING

C-2

APN/PARCEL ID

004060-000106-010

ASK ABOUT THIS PROPERTY

713-955-5580

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713-955-5580

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