7404 Avenue J - Hospitality FOR SALE


Galveston, TX 77554- Harborside Point
$5,800,000 USD
713-955-0012
7404 Avenue J, Galveston, TX for Sale
$5,800,000 USD
Hospitality - FOR SALE
1/14
null | Request Cap Rate

7404 Avenue J
Galveston, TX 77554
Harborside Point


HIGHLIGHTS

  • Ideal opportunity for a more-hands on owner operator to restructure the hotel’s operations to maximize RevPAR penetration and NOI flow-through.
  • The hotel achieved an average gross operating profit (GOP) of 43.0% from 2022 through 2024.
  • Based on a selection of similar dual-brand hotel operating statements, the hotel should achieve a stabilized GOP margin between 46.0% and 52.0%.
  • In 2022/23, ownership completed an extensive, comprehensive renovation to update the Motel 6 per the brand’s “Genesis” design initiative.
  • Ideal Dual-Brand Combination: Mix of limited-service & extended-stay room offerings, with the ability to capture both transient & extended-stay demand
  • There is over $1 billion in investment development activity spread across four large projects coming to the Galveston market.

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=151059 HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the dual-branded, 114-key Motel 6/Studio 6 Galveston, a limited-service, extended-stay hotel asset in Galveston, Texas. The property benefits from its strategic location along the frontage road (Avenue J) of Interstate 45 (I-45), proximate to the nearby refineries in Texas City and a multitude of tourism and leisure attractions. A more hands-on investor will have the ability to realize the upside of acquiring an underperforming, recently renovated dual-branded asset in a robust leisure market.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$194 USD /SF

# OF ROOMS

64

PRICE/ROOM

$90,625 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Motel 6/Studio 6 Galveston

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1980

PARKING SPACES

107

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

LI

APN/PARCEL ID

115715,7205-0000-0512-005

ASK ABOUT THIS PROPERTY

713-955-0012

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713-955-0012

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