808 61st St - Hospitality FOR SALE
Galveston, TX 77551 |
808 61st St
Galveston, TX 77551
HIGHLIGHTS
- Ideal opportunity for a new investor to benefit from a recently renovated asset with strong historical cash-flows in the growing Galveston market.
- Underperforming hotel: rooms revenue as of TTM July 2025 equated to $1,460,000 (rounded), with 69.8% RevPAR penetration index.
- Priced at a 11.2% cap rate based on the 2024 year-end NOI of $773,000 (rounded).
- The change-of-ownership PIP report has been posted to the virtual deal room (VDR).
- An investor can expect a new, 10-year franchise agreement with IHG.
- The property is strategically located at the I-45 and 61st Street interchange; I-45 is a major thoroughfare for those traveling to Galveston Island.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Candlewood Suites Galveston
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
41232
STORIES
3
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
2008
PARKING SPACES
83
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
S
APN/PARCEL ID
2207-0000-0001-000
