Avid/ Candlewood Suites Dual Brand Hotel 101 Grapefruit Blvd 51 Room Hotel Mission, TX 78572 $14,900,000 ($292,157/Room) 8.68% Cap Rate

Presenting the newly constructed Avid/Candlewood Suites dual-brand hotel, a new 107-key, limited-service, extended-stay hotel located in MIssion, Texas—in one of Texas’ top growing MSAs.
CONSTRUCTION UPDATE
A delay in delivery of elevators has pushed the completion date of this asset. As of September 10, 2025, Certificate of Occupancy is estimated for late
October. The vast majority of construction is done, and furniture and soft goods are placed. Call for tour information.
Brand-New Construction – With No Upcoming Deliveries In Market
The property is under construction and scheduled for delivery in September 2025. It will be free from existing management agreements, offering operational flexibility. This will be the only new hotel in Mission from 2024 through 2027.
Strategic Border Economy | Cross-Border Trade Hub
Situated in the McAllen–Mission–Edinburg MSA—one of the nation’s fastest-growing secondary markets—the region thrives on cross-border logistics, healthcare, retail, and industrial sectors.
Walkable to Mission Event Center (0.3 miles)
The nearby Mission Event Center—a ~40,000?SF modern venue—hosts corporate meetings, weddings, and regional events, providing a dependable flow of group and transient demand.
Benefit from SpaceX Starbase Near Brownsville
The growing SpaceX facility near Brownsville (~60 miles away) is actively stimulating regional lodging demand, particularly extended-stays for its contractors, engineers, and construction workforce.
Investment Highlights
Market and MSA Growth Overview
Population Growth The McAllen–Mission–Edinburg MSA’s population expanded from 872,892 in 2020 to 914,820+ by mid-2024, a 4.8% increase (~42,000 residents in four years). Edinburg city, within the MSA, grew by 8.4% since 2020, ranking 10th fastest in Texas and 25th nationally among similarly sized cities.
Economic Momentum MSA GDP surged by 31% from $23.0?billion (2019) to $30.2?billion (2023). Regional employment is solid: Rio Grande Valley jobs grew 4.2% (˜4,800 jobs) in Q3 2024, with gains led by government, education, health, and hospitality sectors.
Trade & Infrastructure McAllen International Airport handled 1.2?million passengers in 2024, marking strong double-digit annual growth. The Valley is a key NAFTA corridor, featuring the first inland Foreign Trade Zone (FTZ) and major international bridges contributing to vibrant logistics activity.
Visitor Spending The Rio Grande Valley attracted over 6 million visitors in 2023, generating $1.2 billion in direct spending (Texas Travel Industry Assoc).
Employment Growth McAllen-Mission MSA job growth outpaced national average, with 3.2% YOY increase in 2024 (U.S. Bureau of Labor Statistics).
Industrial Expansion FedEx, Amazon, and auto manufacturers have expanded distribution operations near the border.
SpaceX’s Starbase in nearby Brownsville expected to generate over 6,000 jobs regionally by 2026.