1603 E Oltorf Blvd - Hospitality FOR SALE
Austin, TX 78741 |
$9,500,000 USD
832-270-1699
1603 E Oltorf Blvd
Austin, TX 78741
HIGHLIGHTS
- 132-room, two-story, La Quinta Inn and a restaurant that sits on 3 acres of land on a hard corner that is located in a prime location.
- Underperforming Nearby Competitors’ RevPAR by $20-$30 - The property is absentee-owned and operated by an owner located out of state.
- Current below-market lease runs out in November. Restaurant is approximately 5,000 SF. The market rent is estimated to be around $175,000 annually.
- Minutes to Downtown Austin - The hotel is situated close to the Oracle Austin Campus (1.7 miles), Google (2.9 miles), and Meta (2.9 miles).
OVERVIEW
CBRE Hotels is pleased to solicit offers to acquire the fee-simple interest in the La Quinta Inn and a restaurant in Austin, Texas. The 132-room hotel is located off Interstate 35, near Oracle Austin Campus, Google, and Meta in Austin, one of the fastest growing cities in the nation, and one of the best managed cities in Texas.
FOR SALE DETAILS
PRICE
$9,500,000 USD
PRICE/SF
$181 USD /SF
# OF ROOMS
132
PRICE/ROOM
$71,970 {currency}
CAP RATE
Request Cap Rate
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
La Quinta Inn by Wyndham Austin Oltorf
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
-
STORIES
2
ROOM ENTRANCE
Exterior
BUILDING CLASS
C
YEAR BUILT
1975
PARKING SPACES
121
LAND DETAILS
LAND ACRES
2.32 AC
LAND SF
101,059 SF
ZONING
GR
APN/PARCEL ID
03050304070000
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832-270-1699
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832-270-1699
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