808 61st St | Galveston, TX 77551
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- LoopNet Team
808 61st St
Galveston, TX 77551
Candlewood Suites Galveston · Hospitality Property For Sale
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41,232 SF
Investment Highlights
- In the past two years, ownership completed an extensive renovation of multiple areas of the property. A minimal change-of-ownership PIP is expected.
- Great opportunity for new management to target long-term contracts and improve revenues.
- In a typical year, there are over 80 year-round festivals, special events, sporting events, and gatherings held in this area.
- Rooms revenues are up 68.8% through November 2021 year-to-date and are on pace to be over $1,600,000 by year-end.
- Over 55% of the November 2021 YTD room revenues are generated from the top 100 accounts.
- Strong demand generated during the spring and summer months in Galveston, Texas.
Property Facts
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 2008/2020 |
| Building Class | B | Parking Ratio | 2.01/1,000 SF |
| Lot Size | 1.47 AC | Corridor | Interior |
| Building Size | 41,232 SF | ||
| Zoning | S - Commercial (NEC) | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.47 AC |
| Building Size | 41,232 SF |
| No. Stories | 3 |
| Year Built/Renovated | 2008/2020 |
| Parking Ratio | 2.01/1,000 SF |
| Corridor | Interior |
| Zoning | S - Commercial (NEC) |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Fully-Equipped Kitchen
Property Taxes
| Parcel Number | 2207-0000-0001-000 | Improvements Assessment | $3,691,360 |
| Land Assessment | $881,140 | Total Assessment | $4,572,500 |
Property Taxes
Parcel Number
2207-0000-0001-000
Land Assessment
$881,140
Improvements Assessment
$3,691,360
Total Assessment
$4,572,500
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