Historical Hotel & Motel Sale Listing - COUNTRY INN & SUITES-AUSTIN TX SOLD

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COUNTRY INN & SUITES-AUSTIN TX SOLD

7400 N. IH-35, Austin, TX 78752

N/A

75 Rooms | Hotel & Motel

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Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
75
Building Size:
44,000 SF
Property Type:
Hotel & Motel
Property Sub-type:
Economy/ Limited Service
Property Use Type:
Investment
Cap Rate:
10%
Average Daily Rate:
$88
RevPAR:
$47
No. Stories:
3
Year Built:
2002
Corridor:
Interior
Lot Size:
1.75 AC
Parking Ratio:
1.25 / 1,000 SF
Listing ID
18345194
Last Updated
14 days ago

Utilities

Highlights

  • LOCATED IN BOOMING AUSTIN TX; EXTREMELY STRONG ECONOMY
  • UPSIDE POTENTIAL BECAUSE HOTEL IS UNDER-MANAGED ABSENTEE OWNER & BELOW COMP SET
  • AUSTIN HOTEL MARKET IS ONE OF THE BEST IN THE COUNTRY
  • IH-35 LOCATION BETWEEN US HWY 183 AND US HWY 290
  • 3 MILES TO MAJOR DEMAND GENERATORS: UNIV. OF TEXAS, STATE CAPITOL, BOOMING DOWNTOWN
  • CLOSE TO HUGE NEW AUSTIN COMMUNITY COLLEGE MAIN CAMPUS UNDER CONSTRUCTION (FORMERLY HIGHLAND MALL)

Description

SOLD SOLD SOLD; 75 ROOMS; 3 STORY INTERIOR CORRIDOR BLDG. BUILT IN 2002. SEVERAL LARGE 2 ROOM SUITES. BREAKFAST ROOM, MEETING ROOM, GUEST AND COMMERCIAL LAUNDRY, FITNESS ROOM. HOTEL IS OPERATING UNDER ITS COMP SET, AND THE AUSTIN MARKET. GREAT VALUE ADDED DEAL AT CHEAP COST / ROOM..

IH-35 NORTH IN BOOMING AUSTIN TEXAS. IH-35 SOUTHBOUND FRONTAGE ROAD BETWEEN US HWY. 183 AND US HWY 290. WEST SIDE ACCESS ROAD. 3 MILES NORTH OF UNIV. OF TEXAS, STATE CAPITOL, AND BOOMING DOWNTOWN. AUSTIN ECONOMY IS ON FIRE. HOTTER THAN ON FIRE. RAPIDLY GROWING AREA. JOBS!!!! 3.8% UNEMPLOYMENT RATE. EXCELLENT HOTEL MARKET AND REAL ESTATE MARKET.PRICES GOING HIGHER. EXCELLENT JOB MARKET FOR UPPER LEVEL JOBS. HIGH EDUCATED POPULATION, QUALITY OF LIFE CITY.

Map of 7400 N. IH-35, Austin, TX 78752 (Travis County)

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Created 9/6/2013