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813 Service Rd
Monahans, TX 79756
Permian Studio Apartments · Hospitality Property For Sale
·
21,276 SF
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built | 2016 |
| Building Class | C | Parking Ratio | 1.16/1,000 SF |
| Lot Size | 2.81 AC | Corridor | Interior |
| Building Size | 21,276 SF | ||
| Zoning | F1 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.81 AC |
| Building Size | 21,276 SF |
| No. Stories | 3 |
| Year Built | 2016 |
| Parking Ratio | 1.16/1,000 SF |
| Corridor | Interior |
| Zoning | F1 |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
ABOUT 813 SERVICE RD , MONAHANS, TX 79756
The Microtel Inn & Suites is a 56 room, 3 story, interior corridor, Wyndham economy scale hotel newly built in 2016. Located with great highway visibility along Interstate 20, this hotel is ideally positioned to not only serve local, corporate, and destination guests, but also the thousands of interstate transient guests travelling through the southern part of the United States. Boasting strong revenue since the property opened in 2016, this hotel provides a strong, high-performance asset in the Western portion of Texas. As one of the top producing Microtel properties in the Wyndham system, this asset is able to continue to attract more return guests looking for quality, spacious, updated accommodations to suit their needs. Currently producing over $2.3MM in room sales, and consistently retaining over 60% in net operating income due to a strong ownership/management team, this investment boasts a very attractive 15.9% cap rate at full ask price. Also priced at 3.77 times room sales and with little to no PIP expectations for a new buyer, the Microtel Inn & Suites in Monahans Texas provides a 47.03% levered five year internal rate of return. This property is offered fee-simple and unencumbered by management. The Permian Basin has provided for exponential growth of the hotel and local economies and this growth is slated to continue steadily over the coming decade as the continued rise of international demand for crude oil skyrockets.
