2301 East President George Bush Highway, Plano, TX 75074
The Comfort Suites Plano is offered for sale at $7.3 million. Based on August 2017 Trailing Twelve Months Net Operating Income of approximately $667,582 which includes reserves for capital replacements (4 percent) and management fee (3 percent), this represents a capitalization rate of 9.23 percent.
Marcus & Millichap’s National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Comfort Suites Plano, a midscale, limited service hotel located in the North Dallas suburb of Plano, Texas. The property consists of 76 rooms and has exposure to corporate business and leisure segments in Plano. The market conditions have led to strong and continued growth in room revenue at the subject hotel. The hotel’s location is in one of the fastest growing markets in the entire Dallas/Fort Worth metroplex.
Plano, Texas, located 19 miles north of downtown Dallas, is the fourth-largest city in the Dallas-Fort Worth region and is home to many leading global corporations. The property is located less than one mile from the new State Farm Regional Headquarters in Richardson, Texas. State Farm plans to bring up to 8,000 employees into the new regional hub. The hub complex will total 3.9 million square feet upon completion. The property is also strategically located within one mile of the President George Bush Tollway and Highway 75 Junction, a major interchange used by many commuters that runs from McKinney to downtown Dallas (Highway 75), and Plano to Dallas/Fort Worth International Airport (President George Bush Turnpike).
The new Toyota Headquarters will be positioned approximately 14 miles from the property. They will occupy a 100-acre site with at least 11 structures, bringing about 4,000 new employees to the North Dallas Area, including the cities of Plano, Allen, McKinney, and Frisco.
The property is also located close to the following demand generators: Galleria Mall Dallas (11 miles), Shops at Legacy (13 miles), IKEA (12 miles), TopGolf Allen (10 miles), Baylor Regional Medical Center Plano (7 miles), American Airlines Center (24 miles). The Comfort Suites Plano is 25 miles from Dallas/Fort Worth International Airport and 20 miles from the Dallas Love Field Airport.
Agent for this listing
Senior Managing Director Investments, National Hospitality Group
Office: (972) 755-5302
Mobile: (972) 786-2719
Fax: (972) 755-5210