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243 Rooms Closed property In Houston 9090 Southwest Fwy 243 Room Hotel Houston, TX 77074 For Sale
INVESTMENT HIGHLIGHTS
- Multiple Hotel Repositioning Opportunities Available
EXECUTIVE SUMMARY
Nine-Story, 243-Room, Previously IHG Hotels & Resorts Branded Hotel. Property Closed in 2019 - Currently Closed. Multiple Hotel Repositioning Opportunities Available. Possible Alternative Use Opportunities. Close Proximity to Sugarland , NRG Stadium, Home of the Houston Texans (NFL) Notable Demand Generators include The Galleria, Memorial Park, Houston Zoo, Baker Hughes and Conoco Phillips World Headquarters .Offered Fee-Simple, Unencumbered by Franchise, Management Contracts or Existing Debt .
As of July, Houston Southwest Freeway 12-month occupancy is 62.8%, 12-month ADR is $88, and 12-month RevPAR is $55.Property to be SOLD AS IS WHERE IS BASIS . Property Needs TLC and Probably Full Service Hotel Franchise . Fresh Franchise PIP Completion will allow the new owner to more effectively compete by improving penetration within the Transient competitive set while increasing cash flow through improving operating margins.
As of July, Houston Southwest Freeway 12-month occupancy is 62.8%, 12-month ADR is $88, and 12-month RevPAR is $55.Property to be SOLD AS IS WHERE IS BASIS . Property Needs TLC and Probably Full Service Hotel Franchise . Fresh Franchise PIP Completion will allow the new owner to more effectively compete by improving penetration within the Transient competitive set while increasing cash flow through improving operating margins.
PROPERTY FACTS
| Sale Type | Investment | No. Rooms | 243 |
| Property Type | Hospitality | No. Stories | 9 |
| Property Subtype | Hotel | Year Built/Renovated | 1981/2008 |
| Building Class | B | Tenancy | Single |
| Lot Size | 3.00 AC | Parking Ratio | 1.15/1,000 SF |
| Building Size | 182,088 SF | Corridor | Interior |
| Zoning | N/Ap Houston - N/Ap Houston | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.00 AC |
| Building Size | 182,088 SF |
| No. Rooms | 243 |
| No. Stories | 9 |
| Year Built/Renovated | 1981/2008 |
| Tenancy | Single |
| Parking Ratio | 1.15/1,000 SF |
| Corridor | Interior |
| Zoning | N/Ap Houston - N/Ap Houston |
AMENITIES
- Business Center
- Fitness Center
- Pool
- Restaurant
- On-Site Bar
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 243 | $270.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 1043670000005 | Improvements Assessment | $3,090,240 |
| Land Assessment | $2,609,760 | Total Assessment | $5,700,000 |
PROPERTY TAXES
Parcel Number
1043670000005
Land Assessment
$2,609,760
Improvements Assessment
$3,090,240
Total Assessment
$5,700,000
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Presented by
Amit Mehta Inc
243 Rooms Closed property In Houston | 9090 Southwest Fwy
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