2629 Tx 35 - Hospitality FOR SALE


Port Lavaca, TX 77979
$10,850,000 USD
919-606-2263
2629 Tx 35, Port Lavaca, TX for Sale
$10,850,000 USD
Hospitality - FOR SALE
1/24
null | 10.43% Cap Rate

2629 Tx 35
Port Lavaca, TX 77979


HIGHLIGHTS

  • Formula Blue PIP Completed in 2019 with an Additional $150K Spent After Completion of the Renovation
  • Turnkey Hotel with Strong Leisure & Workforce Demand; Preferred Hotel for the Local Workforce
  • Port Lavaca is a Major Hub for Oil & Gas Drilling and Plastics Manufacturing
  • Property is Located 7 Miles from Formosa Plastics which Generated $8.4B in Revenue in 2022. 1 of 3 Manufacturing Plants Nationwide
  • Trip Advisor's #1 Hotel in Port Lavaca

OVERVIEW

To view offering summary and due diligence please visit https://holidayinnexpresssuitesportlavaca.sharplaunch.com/ or contact Johnny Casler directly at (919) 606-2263 for more information. Marcus & Millichap has been chosen to exclusively market for the sale the Holiday Inn Express & Suites Port Lavaca in Port Lavaca, Texas. This property is a 3-story, interior corridor hotel with 79 rooms, located directly on the water of the Gulf Coast. Holiday Inn Express Port Lavaca is completely renovated with a formula blue PIP completed in 2019 and over $150K spent since the current owner's acquisition in 2022. Hotel guests are welcomed with common area amenities including complimentary breakfast, a business and fitness center, outdoor swimming pool, gazebo and BBQ grills. Port Lavaca is most commonly known for their presence in the plastics manufacturing industry. The property is located less than 10 minutes from Formosa Plastics, which generated $8.4B in revenue in 2022 and is 1 of just 3 major manufacturers in the U.S. Holiday Inn Express & Suites Port Lavaca is the preferred hotel for the local workforce as well as the leisure travelers visiting Port Lavaca for the beaches and popular saltwater fishing excursions.

FOR SALE DETAILS

PRICE

$10,850,000 USD

PRICE/SF

$357 USD /SF

# OF ROOMS

79

PRICE/ROOM

$137,342 {currency}

CAP RATE

10.43%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express & Suites Port Lavaca

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2010

PARKING SPACES

84

LAND DETAILS

LAND ACRES

2.68 AC

LAND SF

116,741 SF

ZONING

F1

APN/PARCEL ID

77842

ASK ABOUT THIS PROPERTY

John CaslerMarcus & MillichapMore Info
919-606-2263

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John CaslerMarcus & MillichapMore Info
919-606-2263

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