14430 S Padre Island Dr - Hospitality FOR SALE


Corpus Christi, TX 78418
$4,500,000 USD
713-955-0138
14430 S Padre Island Dr, Corpus Christi, TX for Sale
$4,500,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

14430 S Padre Island Dr
Corpus Christi, TX 78418


HIGHLIGHTS

  • Despite being in a strong market, the hotel has underperformed considerably.
  • If the hotel’s RevPAR matched that of its competitors, it would earn $1,578,114 in rooms revenue, highlighting significant upside potential.
  • Prior to the COVID-19 pandemic, the hotel consistently maintained an impressive three-year average rooms revenue of $1,455,826 from 2017 to 2019.
  • New hotel developments in this area are rare and expensive, thus limiting the potential for additional competition.
  • After completing a PIP, a new owner will have a blank slate to implement its own revenue-management strategy, with ability to drive rates higher.
  • Conversion Opportunity with Spark by Hilton and Garner by InterContinental Hotels Group (IHG).

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=146628 HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 60-key La Quinta Inn & Suites by Wyndham Corpus Christi-North Padre Island, a limited-service hotel asset in Corpus Christi, Texas. The property benefits significantly from its location on Padre Island proximate to the Port of Corpus Christi, which is strategically located near major oil and gas (O&G) production areas in the United States.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$116 USD /SF

# OF ROOMS

60

PRICE/ROOM

$75,000 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Quinta Inns & Suites

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2006

PARKING SPACES

152

LAND DETAILS

LAND ACRES

2.41 AC

LAND SF

104,980 SF

ZONING

B-2A/IO

APN/PARCEL ID

612500350305

ASK ABOUT THIS PROPERTY

713-955-0138

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713-955-0138

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