102 East Burton Road, Mount Pleasant, TX 75455
- Limited Service
The Best Western Mount Pleasant Inn is a 54-room, exterior corridor hotel located on frontage road of US Highway 30 in Mount Pleasant, Texas. The property is offered at $1,900,000, and recently underwent a complete renovation in 2016, which allows the need for little-to-no PIP for an investor.
With a TTM approximate NOI of $194,226 , the property is slated to perform with an NOI of $234,537 in 2017 capitalizing on the recent renovations and getting back to its historic revenue trend. An astute owner-operator should be able to optimistically yield a leveraged IRR of 38.76 percent in a potential year-five exit. The hotel is experiencing a strong upward revenue trend, and is gaining healthy increases in both ADR and occupancy levels. On track to perform at its historic top line number, this provides a great opportunity for the new owner operator.
The property includes a spacious three-bedroom manager’s apartment with recent upgrades that should allow a managing partner to efficiently improve the current operations of the hotel.
Agent for this listing
Associate, National Hospitality Group
Office: (972) 755-5171
Mobile: (979) 229-7673
Fax: (972) 755-5210