909 66th St - Hospitality FOR SALE


Lubbock, TX 79412- Bayless Atkins
$4,600,000 USD
805-557-8857
909 66th St, Lubbock, TX for Sale
$4,600,000 USD
Hospitality - FOR SALE
1/14
null | Request Cap Rate

909 66th St
Lubbock, TX 79412
Bayless Atkins


HIGHLIGHTS

  • Dual branded hotel with 169 units - 120 Motel 6 and 49 Studio 6
  • Priced to sell at $27,218 /key
  • 2023 room revenue: $1,496,141; 2024 rom revenue: $1,264,203
  • Studio 6 opened Jan 2024 with rooms continuing to be added to inventory
  • Offered at a 3.1x multiplier of the 2023 room revenue
  • Located in the 10th largest city in Texas with a population of 266,873

OVERVIEW

The Bowman Post Group of NewGen Advisory is pleased to present for sale the Motel 6/Studio 6 - Lubbock, TX. This dual branded property, featuring 169 units—Motel 6: 120 and Studio 6: 49—is located at the interchange of I-27, SE Loop 29, and Hwy 84. The Motel 6/Studio 6 - Lubbock, TX prime location is located 10 miles from the Lubbock Airport, the Silent Wings Museum, and 5 miles away from Texas Tech University. Offered at a 3.1x multiplier of the 2023 room revenue, there is great upside for a new owner as the Studio 6 is poised to provide a new stream of revenue.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$204 USD /SF

# OF ROOMS

122

PRICE/ROOM

$37,705 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Motel 6 Lubbock, TX

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1979

PARKING SPACES

172

LAND DETAILS

LAND ACRES

2.99 AC

LAND SF

130,244 SF

ZONING

F1

APN/PARCEL ID

R45716

ASK ABOUT THIS PROPERTY

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805-557-8857

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Andrew PostNewGen AdvisoryMore Info
805-557-8857

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