Historical Hotel & Motel Sale Listing - Crystal Palace Inn

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Crystal Palace Inn

1303 Tahoka, Brownfield, TX 79316

N/A

68 Rooms | Hotel & Motel

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Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
68
Building Size:
66,230 SF
Property Type:
Hotel & Motel
Property Sub-type:
Full Service
Additional Sub-types:
Special Purpose (Other)
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
12%
No. Stories:
1
Year Built:
1964
Lot Size:
4.06 AC
Parking Ratio:
2.67 / 1,000 SF
Listing ID
14421777
Last Updated
over 1 year ago

Highlights

  • Great Location
  • Priced below appraisal
  • Good curb appeal

Description

The Crystal Palace Inn is a limited-service lodging facility containing 68 guestrooms, one manager apartment with associated office and lobby, plus an individual restaurant, individaul retail and office space (4 units). Also included is a private club, built in 2005. The motel improvements consist of 5 individual buildings, being 1 and 2 story structures, with a separate structure that maintains the office, lobby & managers apartment. The restaurant is a separate structure, while the retail and office space is located within one separate building. The existing improvements contain a total gross area of approximately 66,230 SF, which includes the 4,301 SF restaurant, 12695 SF retail and office building, 44877 SF associated with the motel and 4,357 being related to the private club. The subject motel improvements are a typical low-rise style, motel, designed to facilitate drive-up guests. Exterior stairs are steel. A fenced (wrought iron and brick) pool (concrete) and concrete deck area is located within the interior of the site.

The subject property is located in Brownfield, Texas, on the north side of the Tahoka Road (U.S.380), west of Cedar Street. This location is considered to be the eastern part of the City of Brownfield. Brownfield is located approximately 40 miles southwest of the City of Lubbock.

Map of 1303 Tahoka, Brownfield, TX 79316 (Terry County)

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