950 W Walnut Hill Ln - Hospitality FOR SALE


Irving, TX 75038- Las Colinas
$12,000,000 USD
212-372-2000
950 W Walnut Hill Ln, Irving, TX for Sale
$12,000,000 USD
Hospitality - FOR SALE
1/8
null | Request Cap Rate

950 W Walnut Hill Ln
Irving, TX 75038
Las Colinas


OVERVIEW

Newmark Lodging Capital Markets has been exclusively retained to offer for sale the fee simple interest in the 120-key Residence Inn by Marriott Dallas Las Colinas, a fully unencumbered, repositioning opportunity of a well located, extended-stay hotel offered at a significant discount to replacement cost at 2.67x RRM on trailing 12, with the ability to renovate and rebrand, to meet evolving market dynamics. Ideally situated in Las Colinas, the Property benefits from proximity to DFW International Airport (88M+ annual passengers), eight Fortune 500 companies, and a robust mix of corporate and leisure demand drivers. The Irving North Area submarket is forecasted to outperform the broader Dallas market in RevPAR by $12 by 2029, supported by strong ADR growth and limited new supply. The Hotel occupies a large, infill land parcel, offering optionality for future expansion or redevelopment. Located within the fastest-growing metro in the U.S., with 178,000 residents added in the past year, 900,000+ jobs created over the last decade, and a $87,000 median household income, the Hotel is primed for long-term value creation and near-term upside.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/SF

$149 USD /SF

# OF ROOMS

120

PRICE/ROOM

$100,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Residence Inn Dallas Las Colinas

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1989

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.5 AC

LAND SF

152,460 SF

ZONING

PUD

APN/PARCEL ID

322814900A0010000

ASK ABOUT THIS PROPERTY

Thomas GrazerNewmarkMore Info
212-372-2000

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Thomas GrazerNewmarkMore Info
212-372-2000

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