6023 45th St - Hospitality FOR SALE


Lubbock, TX 79407
$10,049,000 USD
214-432-4719
6023 45th St, Lubbock, TX for Sale
$10,049,000 USD
Hospitality - FOR SALE
1/7
null | 7.32% Cap Rate

6023 45th St
Lubbock, TX 79407


HIGHLIGHTS

  • Strong Brand Recognition: The Holiday Inn Express, a renowned and trusted name within the IHG portfolio, draws a devoted customer base.
  • Recently Completed PIP: Benefit from a recently completed Formula Blue 1 PIP (2021).
  • Prime Location: Situated just 5 miles from Texas Tech University and 2 miles from Lubbock Christian University, with easy access to Lubbock.
  • Economic Growth: The $1 billion Leprino Foods plant, opening in 2025, will bring over 600 new jobs, boosting hotel demand.
  • Infrastructure Improvements: A $19 million project to upgrade Upland Avenue to a five-lane road will enhance access and visibility.
  • Operational Potential: New ownership can optimize operations and implement strategies for increased profitability.

OVERVIEW

Matthews Real Estate Investment Services™ presents the exclusive listing opportunity to acquire the fee-simple interest in the 82-room Holiday Inn Express & Suites Lubbock West. The hotel was renovated to Formula Blue 1 in 2021 and is located five (5) miles from Texas Tech University and two (2) miles from Lubbock Christian University. The asset boasts strong real estate fundamentals in the growing Lubbock market with multiple demand drivers including the Reese Technology Center and Lubbock Preston Smith International Airport. The upcoming $1 billion Leprino Foods plant, set to open in 2025, is expected to bring over 600 jobs to the area, further enhancing local demand. Broker of Record Patrick Graham License No. 9005919 (TX) (866) 889-0550 Matthews Real Estate Investment Services, Inc 8300 Douglas Ave., Ste. 750, Dallas, TX 75225

FOR SALE DETAILS

PRICE

$10,049,000 USD

PRICE/SF

$203 USD /SF

# OF ROOMS

82

PRICE/ROOM

$122,549 {currency}

CAP RATE

7.32%

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express & Suites Lubbock West

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2010

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.84 AC

LAND SF

80,150 SF

ZONING

F1

APN/PARCEL ID

R313120

ASK ABOUT THIS PROPERTY

Alfonso GarciaMatthews Real Estate Investment ServicesMore Info
214-432-4719

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Alfonso GarciaMatthews Real Estate Investment ServicesMore Info
214-432-4719

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