2.11 Acres with Proposed TownePlace Suites by Marriott Development

$1,600,000

218 W Helgra St, Deer Park, TX 77536

Details

  • $1,600,000
  • Midscale

Investment Overview
Marcus & Millichap is proud to exclusively present on behalf of the seller an opportunity to develop a TownePlace Suites hotel project in Deer Park, Texas (Houston MSA). The proposed TownePlace Suites Deer Park is located in the booming south east region of the Houston metropolitan area. Included in the sale are 2.11 acres of land, complete plans for a four story 80 unit TownePlace Suites and all permits required by the city to begin construction.

According to a recent local market survey, the developer of the TownePlace Suites should expect a year-one stabilized RevPAR of approximately $75 or Room Revenues of approximately $2.1M.

Brand Overview:
TownePlace Suites by Marriott is designed for extended stay travelers who want to feel at home and stay productive. To appeal to these guests seeking authenticity, personality and a seamless experience, the concept infuses local flavor into a quiet neighborhood setting, complete with the added comfort, service and quality of an all-suite hotel. With more than 230 locations, the hotels offer extraordinary value, including modern spacious suites with full kitchens. Other features include Morning Break offering complimentary breakfast, the “In A Pinch” market open 24/7 for quick, easy meals and snacks, the PC Connection Center for business needs, and the Get Fit fitness center to keep in shape while on the road.

Agent for this listing

Skyler Cooper

Vice President Investments, National Hospitality Group
Office: (713) 452-4275
Mobile: (540) 522-9115
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Lisa Hankamer

Senior Associate, National Hospitality Group
Office: (713) 452-4247
Mobile: (713) 992-3343
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