Red Roof Inn Lubbock 6624 Interstate 27 162 Room Hotel Lubbock, TX 79404 $3,200,000 ($19,753/Room)
INVESTMENT HIGHLIGHTS
- 162 Units, 3 Story, Interior Corridor Hotel, Direct Access to Interstate 27
- Revenue in 2023: $1,173,083, Revenue in 2024: $1,016,814
- Leased Restaurant Provides Lease Income of $2,500 per Month
- Priced to Sell Asking $19,753 per Key
- Fantastic Location in Lubbock, a Major Hub in Northwest Texas, nearby to Texas Tech University and the Lubbock Preston H. Smith International Airport
- Excellent Condition Following Recent Updates, with Flexibility to Change the Flag
EXECUTIVE SUMMARY
162-room, 3 story interior corridor Franchised Hotel located in Lubbock, TX.
The hotel was built in 1979 and is in excellent condition. The Seller expects that only exterior paint, corridor carpet, and replacing some of the TV's as requirements from the current franchisor. Rooms have been updated with LVT flooring, and both bathrooms and FF&E meet brand standards. Revenue in 2023 was $1,173,082.99 without a full-time Owner on-site.
The hotel features an indoor pool and there is flexibility to bring a new flag to the hotel.
The hotel has direct access to Interstate 27. Lubbock, Texas, with a growing population of 255,000 and 10% city growth rate (2020-2022), boasts strong hotel demand generators, primarily Texas Tech University, drawing students, faculty, and visitors. Additionally, Covenant Medical Center and University General Hospital drive occupancy with patients and medical professionals. Major events at the United Supermarkets Arena and Lubbock Memorial Civic Center also significantly impact hotel demand.
Full details available after signing a Confidentiality Agreement.
The hotel was built in 1979 and is in excellent condition. The Seller expects that only exterior paint, corridor carpet, and replacing some of the TV's as requirements from the current franchisor. Rooms have been updated with LVT flooring, and both bathrooms and FF&E meet brand standards. Revenue in 2023 was $1,173,082.99 without a full-time Owner on-site.
The hotel features an indoor pool and there is flexibility to bring a new flag to the hotel.
The hotel has direct access to Interstate 27. Lubbock, Texas, with a growing population of 255,000 and 10% city growth rate (2020-2022), boasts strong hotel demand generators, primarily Texas Tech University, drawing students, faculty, and visitors. Additionally, Covenant Medical Center and University General Hospital drive occupancy with patients and medical professionals. Major events at the United Supermarkets Arena and Lubbock Memorial Civic Center also significantly impact hotel demand.
Full details available after signing a Confidentiality Agreement.
PROPERTY FACTS
| Price | $3,200,000 |
| Price Per Room | $19,753 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.75 AC |
| Building Size | 417,609 SF |
| No. Rooms | 162 |
| No. Stories | 3 |
| Year Built/Renovated | 1975/2003 |
| Corridor | Interior |
| Zoning | C-2 - Commercial |
AMENITIES
- Business Center
- Fitness Center
- Restaurant
- Indoor Pool
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 3 | $194.00 | - |
| Guest Room | 159 | $173.00 | - |
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PROPERTY TAXES
| Parcel Number | R45760 | Improvements Assessment | $2,427,994 |
| Land Assessment | $372,006 | Total Assessment | $2,800,000 |
