Canadian Courts Motel

$1,000,000

220 N 2nd St, Canadian, TX 79014

Details

  • $1,000,000
  • Economy

Investment Overview:

Marcus & Millichap’s National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Canadian Courts Motel in Canadian, Texas. The property is a 51-room, exterior corridor, one-story independent hotel located in Canadian, Texas, approximately 100 miles northeast of Amarillo, Texas, directly off of State Highway 60.

The Canadian Courts Motel is being offered at 2.43 times the July 2017 trailing 12 months revenue. At a list price of $1 million, or $19,608 per key.

Property Overview:

The Canadian Courts Motel is a 51-room, exterior corridor motel located in Canadian, Texas. The property opened in 1995 as a single property and experienced major renovations in 2011 and 2016 including the addition of a 125-person capacity conference center to the motel. The property also has a vacant restaurant located on site and a one-bedroom manager’s quarters.

Location Overview:

Canadian, is located on U.S. highways 60 and 83 in the northern Texas panhandle and is the county seat of Hemphill County. Canadian Texas is situated on a frequently traveled route connecting Amarillo and Tulsa, Oklahoma. In addition to the town’s annual rodeo, the annual Midsummer Music Festival in August and the Autumn Foliage Tour in October and a burgeoning artist community which attracts visitors. Other attractions include the River Valley Pioneer Museum in Canadian , and Lake Marvin and the Gene Howe Wildlife Management area just east of the town.

Agent for this listing

Allan Miller

First Vice President Investments | Senior Director, National Hospitality Group
Office: (512) 338-7831
Mobile: (512) 203-9154
Fax: (512) 338-7810
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Steve Swenholt

Senior Associate, National Hospitality Group
Office: (512) 338-7826
Mobile: (972) 824-5483
Fax: (512) 338-7810
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