605 W. U.S. Hwy 70 - Hospitality FOR SALE


Lockney, TX 79241
$375,000 USD
806-786-7374
605 W. U.S. Hwy 70, Lockney, TX for Sale
$375,000 USD
Hospitality - FOR SALE
1/8
null | Request Cap Rate

605 W. U.S. Hwy 70
Lockney, TX 79241


HIGHLIGHTS

  • Within last 5 years: new metal roof, concrete parking lot, upgraded restrooms in each room
  • Great visibility sitting on U.S. Hwy 70 between Plainview & Floydada, TX
  • Located between DG Market and Old Maroon Saloon offering convenience to guests

OVERVIEW

This 12 room motel with 6 RV hook-ups positioned between Dollar General Market and Old Maroon Saloon has fantastic visibility along the frontage road of U.S. Hwy 70 heading W. between Plainview and Floydada in Lockney, TX. Nightly rates range from $60 - $100 per night depending on single, double or triple bed unit. Improvements completed over the last 5 years include a new metal roof, concrete parking lot, heating & cooling units in each room and updating the bathrooms. The property is made up of 2 buildings: reception / owner's living quarters (2 bed / 1 bath / living / kitchen / laundry) = 1,475 sf while the available rooms for rent and a large mechanical room / supply closet = 3,600 sf. This is a great opportunity for someone who is savvy in social media marketing and booking technology to collaborate with other entrepreneurs and capitalize on local events like Punkin' Days, class reunions, hunting season, Old Fashion Saturdays, weddings, family reunions, Old Settler's Reunion and more!

FOR SALE DETAILS

PRICE

$375,000 USD

PRICE/SF

$74 USD /SF

# OF ROOMS

12

PRICE/ROOM

$31,250 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lockney Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

16

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

-

APN/PARCEL ID

R000006376

ASK ABOUT THIS PROPERTY

Crystal EdwardsWestMark CommercialMore Info
806-786-7374

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Crystal EdwardsWestMark CommercialMore Info
806-786-7374

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