2965 E Main St - Hospitality FOR SALE


Alice, TX 78332
$7,600,000 USD
661-978-3109
2965 E Main St, Alice, TX for Sale
$7,600,000 USD
Hospitality - FOR SALE
1/41
null | 8% Cap Rate

2965 E Main St
Alice, TX 78332


HIGHLIGHTS

  • Formula Blue 2.0 PIP Complete in 2024
  • Plus $110 ADR Market
  • Strong OCC Performance W/ YTD OCC Growth
  • Dominant RevPar Growth
  • Consistent Market Leadership

OVERVIEW

Hotel Brokers of America is pleased to exclusively offer the 70-room Holiday Inn Express & Suites Alice, TX. Highlights & Location: ·With consistent rankings of 1st or 2nd across various metrics, the Holiday Inn Express & Suites Alice is well-positioned in its market, capturing a larger share and maximizing revenue potential, indicating a strong outlook for continued success. ·The Holiday Inn Express & Suites Alice, TX, has shown remarkable performance across key metrics, particularly in occupancy, where the property recorded a rate of 68.5% for June 2024—a significant 14.4% increase from the previous year. ·Over the last three months, the ADR increased by 5.4% to $110.53, showcasing the property’s ability to command premium rates in the market. The ADR Index (ARI) for the property reached 117.1, further emphasizing its pricing power and market strength. ·The property’s RevPAR (Revenue Per Available Room) performance is equally strong, with June 2024 showing a RevPAR of $74.53, up 14.5% from the previous year, and significantly higher than the competitive sets of $42.50.

FOR SALE DETAILS

PRICE

$7,600,000 USD

PRICE/SF

$163 USD /SF

# OF ROOMS

70

PRICE/ROOM

$108,571 {currency}

CAP RATE

8%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express & Suites Alice

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2004

PARKING SPACES

72

LAND DETAILS

LAND ACRES

2.13 AC

LAND SF

92,783 SF

ZONING

H

APN/PARCEL ID

11020-001-018-00,11546-001-000-00

ASK ABOUT THIS PROPERTY

Subhash NaikHotel Brokers of AmericaMore Info
661-978-3109

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Subhash NaikHotel Brokers of AmericaMore Info
661-978-3109

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