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- LoopNet Team
1305 N Tool Dr
Tool, TX 75143
The Ranch Suites Motel · Hospitality Property For Sale
·
12,508 SF
INVESTMENT HIGHLIGHTS
- 13.73% Cap Rate
- Highest rated hotel/motel in Cedar Creek Lake area based on various online platforms
- Awarded Best of Tool Award for three consecutive years, 2019, 2020, & 2021
- Extremely high occupancy rate
- REVENUES NOT Affected by COVID-19
- Voted 2021 THE BEST place to stay in the Cedar Creek Lake area
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 1 |
| Property Subtype | Hotel | Year Built/Renovated | 2008/2011 |
| Building Class | C | Parking Ratio | 1.36/1,000 SF |
| Lot Size | 0.63 AC | Corridor | Interior |
| Building Size | 12,508 SF | ||
| Zoning | Real Commercial F1 - Commercial | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 12,508 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2008/2011 |
| Parking Ratio | 1.36/1,000 SF |
| Corridor | Interior |
| Zoning | Real Commercial F1 - Commercial |
ABOUT 1305 N TOOL DR , TOOL, TX 75143
- REVENUES NOT Affected by COVID-19 - 13.73% Cap Rate - Extremely high occupancy rate General Information: -Website: www.theranchsuites.com -17 Total Units - 10 suites include 1 queen bed, 1 fold out, full size kitchen, and living area (Of these 10 suites, 2 of those are in a separate duplex building and 1 is in a single detached suite by itself) - 4 suites with 2 beds, full size kitchen and living area - 2 Studios include 1 queen bed, mini fridge, microwave, and coffee maker - 1 Manager Suite w/private garage, full size kitchen, laundry, living area and backyard - Improvements: - Numerous small updates September, October, November, and December 2020 (New HW heater, painted baseboards, trim, and doors in rooms, painted walkways, trim outside, gutters etc.) - Installed new flooring in 1 suite October 2020 - Installed new flooring in 4 suites July 2020 - Redid parking March 2020 - Added additional 250 bales of insulation to all attic space for reduced electric bills (R-30+ value) in November 2019 - Replaced roof on duplex November 2019 - Installed new security camera system June 2019 - Repainted decks and fence March 2019 and November 2020 - Poured new concrete walkway, Installed new siding and added electric to back deck March 2019 - New landscape lighting 2018 - Highlights: - FANTASTIC full time manager for past 4 years - Manager is flexible and willing to stay or leave depending on new owner's wishes - Motel could be owner managed if desired and new owner would have higher net return/revenue with 16.4% cap - Owner and manager willing to train new owner and replacement manager if necessary - LOTS of repeat customers for years (despite several rate increases) - Property highly maintained and consistently/constantly updated. - Reviews and Awards: - Winner of best hotel/motel for the Cedar Creek Lake Area 2019, 2020, & 2021 - Highest rated hotel/motel in Cedar Creek Lake area based on various internet platforms - 4.5 stars on Google - 9.6 star rating from booking.com and preferred place to stay for the area on booking.com (booking.com sends guests to The Ranch Suites over competitors)
PROPERTY TAXES
| Parcel Number | 3995-0001-0010-63 | Improvements Assessment | $656,243 |
| Land Assessment | $32,932 | Total Assessment | $689,175 |
PROPERTY TAXES
