808 61st St - Hospitality FOR SALE


Galveston, TX 77551- Harborside Point
$6,900,000 USD
713-955-0012
808 61st St, Galveston, TX for Sale
$6,900,000 USD
Hospitality - FOR SALE
1/25
null | 11.2% Cap Rate

808 61st St
Galveston, TX 77551
Harborside Point


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.

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=150899 HVS Brokerage & Advisory, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 83-key Candlewood Suites Galveston, a recently renovated, extended-stay hotel asset in Galveston, Texas. A new investor will have the opportunity to realize the significant upside of acquiring a recently renovated extended-stay hotel in a historically robust leisure market.

FOR SALE DETAILS

PRICE

$6,900,000 USD

PRICE/SF

$167 USD /SF

# OF ROOMS

83

PRICE/ROOM

$83,133 {currency}

CAP RATE

11.2%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Candlewood Suites Galveston

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2008

PARKING SPACES

83

LAND DETAILS

LAND ACRES

1.47 AC

LAND SF

64,033 SF

ZONING

S

APN/PARCEL ID

2207-0000-0001-000

ASK ABOUT THIS PROPERTY

713-955-0012

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713-955-0012

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