- Date added: Added 1 month ago
- Category: Hotel
- Type: Limited Service
- Status: For Sale
- Guestrooms: 72
- Bedrooms: 72
- Half baths: 2
- Meeting space sq ft: 200
- Floors: 3
- Area, sq ft: 43650 sq ft
- Lot size, sq ft: 43650 sq ft
- Year built: 2015
- Year remodeled: 2021
- Price per sq ft: $187.86
- Price Per Key: $113,888.00
- Cap rate: 9.43%
- NOI: $773,266
- Occupancy: 67.39%
- Broker: Hotel Brokers of America
- Agent: Corina Palekar
- Agent Phone: 661-808-4998
- Agent Email: Deals@hbofamerica.com
- Website:: https://hotelbrokersinc.com/
- 2015 Built
- Recently Renovated with Minimal PIP to New Buyer
- Priced to sell at $113K Per Key
- Well below today's construction costs
- Prime Location with Freeway Visibility
- Minimal Competition
Thank you for your interest in the 72 room three three-story interior corridor Holiday Inn Express located 45 minutes Northwest of Houston downtown with freeway visibility off of the 249.
This 2015-built property is the last asset this seller is selling in his Texas portfolio as he has relocated to Tampa Florida. The property is running at an average occupancy of 61% at an ADR of 109.19 with a top-line revenue of $1,773,000. The property is on track to end 2023 at $2,000,000 as Tomball is finally seeing a return in corporate travel since 2020.
The seller has recently completed all exterior IHG requirements including exterior painting, new landscaping, and fencing along with all public areas, lobby, and all guest room soft goods.
A new owner will receive a further 15-20-year license with IHG.
-Business Travel: Tomball's proximity to Houston and other business hubs makes it a convenient location for business travelers attending meetings, conferences, or conducting business in the area
-Sports Events: Tomball is home to several sports complexes and facilities, attracting athletes, teams, and fans for tournaments, competitions, and games. This generates a demand for hotels to accommodate participants and spectators.
-Tourism and Sightseeing: Tomball's historic downtown, the Railroad Depot Museum, and nearby attractions like the Tomball Museum Center and the Texas Renaissance Festival make it an attractive tourist destination. Visitors exploring the area require lodging options.
-Wedding and Family Events: Tomball's picturesque venues and natural beauty make it popular for weddings and family gatherings. Visitors attending such events often need hotels for their stay.
-Oil and Gas Industry: The oil and gas industry is significant in the region surrounding Tomball. Business travelers related to this industry may require accommodations in the area.
-Healthcare: Tomball is home to several healthcare facilities and medical centers, and visitors coming for medical treatments or to support loved ones in hospitals may need hotel accommodations.
Educational Institutions: Tomball is served by the Tomball Independent School District and has nearby colleges and universities. Visitors coming for educational purposes or campus events may seek hotels.
The hotel qualifies for an SBA 7a para passu loan, SBA 504 with 20% down, or a conventional loan with a minimum of 30-35% down.
At the asking price of $8,200,000, the hotel is being sold with the land at a low price of $113,000 per key. Well below construction costs.
- Cooling features: Central Air, PTAC
- Heating features: PTAC
- Floor covering: Carpet, Concrete, Hard wood, Laminate, Linoleum/vinyl, Slate, Softwood, Tile
- Basement: Partially finished
- Exterior material: Brick, Stone, Wood
- Roof: Asphalt, Built-up, Cement/concrete, Composition, Metal, Porte Co·chère, Shake/Shingle, Shingle, Slate, Stone, Stucco, Tile, Vinyl, Wood, Wood products
- Parking: Carport, Parking lot
Amenities & Features