1008 Sheppard Rd - Hospitality FOR SALE


Burkburnett, TX 76354
$3,900,000 USD
713-955-0012
1008 Sheppard Rd, Burkburnett, TX for Sale
$3,900,000 USD
Hospitality - FOR SALE
1/19
null | Request Cap Rate

1008 Sheppard Rd
Burkburnett, TX 76354


HIGHLIGHTS

  • Bank-Owned (REO) Hotel Asset - The asset was taken over by the lender in October 2024.
  • Per the December 2024 STR report, the hotel ranked 7th (out of 8) among its competitors for year-end RevPAR, showing tremendous room for improvement.
  • Over the last six months, the lender has spent major capital to convert the hotel to a Ramada by Wyndham.
  • Given the recent renovations, a minor change-of-ownership property improvement plan (PIP) is anticipated.
  • The property benefits from excellent visibility and accessibility given its location along State Highway 240/Sheppard Road, just east of I-44.
  • As the only lodging facility in Burkburnett, the hotel will benefit from the additional growth and development occurring in the area.

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=151574 HVS, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 80-room Ramada by Wyndham Burkburnett/Wichita Falls, a limited-service hotel asset in Burkburnett, Texas, north of Wichita Falls along the Texas/Oklahoma border. The bank-owned (REO) hotel asset is currently being operated by a third party. An investor will have the opportunity to acquire a newly converted and freshly renovated property, offering new ownership a blank slate to implement its own sales and revenue-management strategies.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$81 USD /SF

# OF ROOMS

80

PRICE/ROOM

$48,750 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ramada by Wyndham Burkburnett / Wichita Falls

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2006

PARKING SPACES

114

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,184 SF

ZONING

C/B

APN/PARCEL ID

301024,5N010400500

ASK ABOUT THIS PROPERTY

713-955-0012

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

713-955-0012

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