143 Express Blvd | Center, TX 75935
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- LoopNet Team
143 Express Blvd
Center, TX 75935
Holiday Inn Express & Suites Center · Hospitality Property For Sale
·
34,320 SF
INVESTMENT HIGHLIGHTS
- Since acquiring the property in 2021, the hotel has averaged $1,551,283 in annual rooms revenue, with 2024 finishing at $1,563,812.
- Based on the hotel’s 2024 rooms revenue of $1,560,000 (rounded), the deal underwrites to a competitive 3.48x RRM; Minor PIP expected.
- The hotel benefits from its strong competitive positioning given the market’s limited brand saturation & consistent demand driven by IHG affiliation.
- In 2021/2022, ownership spent approximately $1,300,000, or $15,000 per key, to complete the Formula Blue property improvement plan (PIP).
- The hotel is one of only three upper-midscale hotels in the Center, Texas, lodging market, alongside the Hampton Inn & Suites and Best Western Plus.
- Upon completion of change-of-ownership PIP, an investor can expect a new long-term IHG franchise license agreement, enhancing long-term brand security
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 2007/2022 |
| Building Class | B | Parking Ratio | 1.6/1,000 SF |
| Lot Size | 3.18 AC | Corridor | Interior |
| Building Size | 34,320 SF | ||
| Zoning | Commercial | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.18 AC |
| Building Size | 34,320 SF |
| No. Stories | 3 |
| Year Built/Renovated | 2007/2022 |
| Parking Ratio | 1.6/1,000 SF |
| Corridor | Interior |
| Zoning | Commercial |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
PROPERTY TAXES
| Parcel Number | R51967 | Improvements Assessment | $3,469,030 |
| Land Assessment | $202,450 | Total Assessment | $3,671,480 |
PROPERTY TAXES
Parcel Number
R51967
Land Assessment
$202,450
Improvements Assessment
$3,469,030
Total Assessment
$3,671,480
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