909 66th St - Hospitality FOR SALE


Lubbock, TX 79412
$4,950,000 USD
805-557-8857
909 66th St, Lubbock, TX for Sale
$4,950,000 USD
Hospitality - FOR SALE
1/15
null | Request Cap Rate

909 66th St
Lubbock, TX 79412


HIGHLIGHTS

  • Dual Branded Hotel with 171 Units - 122 Motel 6 and 49 Studio 6
  • Priced to sell at $28,947 per key
  • 2023 Room Revenue: $1,496,141
  • Studio 6 opened Jan 2024 with rooms continuing to be added to inventory
  • Offered at a 3.3x Multiplier of the 2023 Room Revenue
  • 10th largest city in Texas with Population of 266,873

OVERVIEW

The Bowman Post Group of NewGen Advisory is pleased to present for sale the Motel 6 & Studio 6 in Lubbock, Texas. This property, featuring 171 units—Motel 6: 122 and Studio 6: 49—is located at the interchange of I-27, SE Loop 29, and Hwy 84. It's prime location is located 10 miles from the Lubbock Airport, the Silent Wings Museum, and 5 miles away from Texas Tech University-the sixth largest university in the state. Offered at a 3.6x multiplier of the 2023 room revenue, there is great upside for a new owner as the Studio 6 is poised to provide a new stream of revenue. Lubbock, Texas goes by the nickname of "Hub City," as it is known for being the economic, educational, and health-care hub of the multicounty region. Lubbock, the 10th largest city in Texas, has a population of 266,873, further enhancing the appeal of this investment. This city is home to rich culture and art. In Lubbock you'll be greeted with a hospitable atmosphere, great dining options, and delightful musical acts. Additionally, Lubbock hosts a variety of festivals and events throughout the year, celebrating its vibrant community and diverse heritage. Broker of Record: Bharat Patel | NewGen Advisory TX, LLC | License No.: 9006243 For more information, click here: https://airtable.com/appBI1RhQfXjGOWdN/shr27fMS4APyRLl9u

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$219 USD /SF

# OF ROOMS

122

PRICE/ROOM

$40,574 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Motel 6 & Studio 6 Lubbock, TX

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1979

PARKING SPACES

172

LAND DETAILS

LAND ACRES

3.1 AC

LAND SF

135,202 SF

ZONING

F1

APN/PARCEL ID

R45716

ASK ABOUT THIS PROPERTY

Andrew PostNewGen AdvisoryMore Info
805-557-8857

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Andrew PostNewGen AdvisoryMore Info
805-557-8857

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