Marcus & Millichap is pleased to present an exclusive investment opportunity for the Comfort Suites Waco North – Near University Area, a 94-room all-suite hotel strategically located along Interstate 35 in Waco, Texas. This property benefits from exceptional visibility and accessibility, with a high traffic count on Interstate 35. Ideally situated midway between Dallas-Fort Worth, approximately 90 miles to the north, and Austin, roughly 105 miles to the south, Waco’s strategic location enhances its appeal as a hub for both business and leisure travelers. Positioned just 3.7 miles from Baylor University, a nationally ranked Research 1 institution with over 20,000 students, the hotel capitalizes on a strong influx of visitors drawn by academic, sporting, and cultural events. Additionally, the property leverages Waco’s dynamic economic growth, robust tourism, and diverse demand generators, making it an ideal opportunity for investors seeking stable returns in a thriving market. The Comfort Suites Waco North has undergone comprehensive improvements in recent years and is expected to have a minimal change of ownership PIP at sale. This hotel offers 94 spacious guest suites, each designed with separate living, working, and sleeping areas to cater to the needs of modern travelers. Amenities include an indoor pool, fitness center, business center, meeting rooms, complimentary breakfast, and laundry facilities. The property features a bar in the lobby space, which is currently not operational. This presents a compelling value-add opportunity for new ownership to activate this amenity and drive additional revenue. The investment opportunity sits on 7.7 acres of land of which approximately 4.85 acres of land could be used for future development by the new ownership to further enhance the property’s value or reduce the overall investment basis by selling the additional undeveloped land. The property has generated approximately $3.1M in average topline revenue between 2021 and T12 Nov 2024, with over $1M in average EBITDA during the same period. As part of Choice Hotels International, the property benefits from strong brand recognition and operational support, ensuring consistent service quality and guest satisfaction. Waco is experiencing strong economic growth, underscored by a $2 billion downtown transformation and ongoing infrastructure investments. This growth elevates the region’s profile and contributes to a robust tourism industry, with attractions like the Magnolia Market at the Silos drawing over a million visitors annually. Strategic Market Position: The Comfort Suites Waco North is in close proximity to key demand drivers that enhance its appeal to a wide range of guests. Baylor University, located just 3.7 miles away, is a significant draw due to its status as a major educational institution hosting numerous events throughout the year. Magnolia Market at the Silos, situated approximately four miles from the hotel, is a major tourist destination developed by Chip and Joanna Gaines. The market attracts over one million visitors annually, contributing substantially to the local tourism economy. McLane Stadium, home to the Baylor Bears football team, is also in close proximity to the property and brings thousands of fans and visitors to the area during football season and for various events throughout the year. The hotel’s location offers easy access to the ongoing downtown Waco redevelopment, a $2 billion revitalization effort located about five miles away. This transformative project includes mixed-use districts, a performing arts venue, and a new convention center, all of which are expected to further stimulate economic growth and attract visitors. Other nearby attractions include the Waco Mammoth National Monument, showcasing prehistoric mammoth remains, and the Cameron Park Zoo, a popular family-friendly destination housing over 1,700 animals. The Texas Ranger Hall of Fame & Museum and Texas State Technical College are also within convenient reach, adding to the area’s cultural and educational appeal. Economic and Infrastructure Drivers: Waco’s economy is bolstered by a robust healthcare sector, with major regional employers such as Providence Healthcare Network and Baylor Scott & White Medical Center Hillcrest providing extensive medical services and employment opportunities. The manufacturing and distribution industries are well-represented by companies like Mars Snackfoods US, Cargill Foods, and L-3 Communications, which anchor the local economy and contribute to its diversity and resilience. The area is also experiencing significant retail and dining growth, exemplified by the upcoming opening of Webster Market in downtown Waco. Set to open in 2025, this 50,000-square-foot retail and dining hub will enhance the city’s appeal and provide additional amenities for residents and visitors alike. The Comfort Suites Waco North offers investors the opportunity to acquire a well-positioned, upgraded hospitality asset in a rapidly growing Texas market. With its proximity to Baylor University, major tourist attractions, and ongoing regional development, the property is primed to benefit from sustained demand growth and economic vitality. Its recent upgrades and strong brand affiliation with Choice Hotels International further enhance its attractiveness as an investment.