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1601 W Palestine Ave
Palestine, TX 75801
Best Western Palestine Inn · Hospitality Property For Sale · 66,632 SF

INVESTMENT HIGHLIGHTS

  • 66-Room, Exterior-Corridor, Limited-Service Hotel with Owner’s Living Quarters
  • Qualifies for Automatic Transfer of Best Western Franchise
  • 3.15 Room Revenue Multiplier on 2019 Revenues
  • Priced Below Replacement Cost at $45,455 Per Key
  • Excellent Location off Highway 79 Near a Variety of Demand Generators

PROPERTY FACTS

Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 2.70 AC
Building Size 66,632 SF
No. Stories 2
Year Built 1982
Parking Ratio 1.38/1,000 SF
Corridor Exterior
Zoning Commercial

AMENITIES

  • Business Center
  • Pool
  • Restaurant
  • Meeting Event Space

ABOUT 1601 W PALESTINE AVE , PALESTINE, TX 75801

Property Overview: The Best Western Palestine Inn is a two-story, 66-room, exterior corridor hotel. The property has been recognized for multiple Directors Awards from Best Western. Each guest room features a desk with an ergonomic chair, sofa, seating area, data ports, microwave, and refrigerator. The common areas include an outdoor swimming pool, business center, guest laundry, ice and vending machines, and fitness center. Location Overview: Palestine, Texas, is located in the eastern part of the state about 1.5 hours from Dallas-Fort Worth. The region’s top industries include logistics, government, healthcare, and education. The Best Western Palestine Inn is strategically positioned on 1601 West Palestine Avenue near several of the top industry market drivers. The University of Texas at Tyler (1.5 miles) enrolls approximately 10,000 students which represent 167 counties, 45 states, and over 60 nations which is a significant market driver in the region. The University of Texas Tyler offers 80 bachelor’s, master’s, and doctoral degree programs, and has a renowned R. Don Cowan Fine and Performing Arts Center. Year-round the university hosts several scholastic and performing arts events. The Texas Department of Criminal Justice (12.4 miles) manages the offenders in state prisons, state jails, private correctional facilities, and operates the largest prison system in the country. 5J Trucking (4.8 miles) is another major company in the area and is a contract carrier that manages large fleets for the industrial construction industry. Also, the Palestine Regional Medical Center (2.6 miles) serves approximately 100,000 patients and has 500 employees with 150 beds. Leisure travelers’ sought-after venues include the Davey Dogwood Park (3.7 miles) and the Pine Dunes Golf Course (18.1 miles).

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R28718
Land Assessment
$205,898
Improvements Assessment
$2,517,311
Total Assessment
$2,723,209
  • Listing ID: 24448045

  • Date on Market: 11/8/2021

  • Last Updated:

  • Address: 1601 W Palestine Ave, Palestine, TX 75801

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