215 Richill Dr, Texarkana, TX 75503
Marcus & Millichaps National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Comfort Suites located in Texarkana, Texas. The hotel is a 70-unit, interior cooridor, three story hotel located directly off Highway 40 and situated in tthe Texarkana Metroplex. The property was originally built in 2001 and has experienced renovation throughout the life of the asset.
The Comfort Suites is being offered at a price of $4M, or for $57K a key, well below replacement cost. Currently the property is owned by a California/Canada partnership, providing a significant opportunity for an owner operator to implant an aggressive operations potentially providing an increase of revenue and reduced expenses. The property is current trending with 1.120M in top line revenue. Resulting in a adjusted NOI of approximately $403,611. Conservatively proforma an investor can estimate a 5 year Leveraged IRR of 36.57%.
The Comfort Suites Texarakana is a 70-unit, interior corridor, limited service hotel located in Texarkana, Texas. The property was built in 2001, and is a 3 story hotel. The guest rooms are equipped with a refrigerator, microwave, and AC/USB outlets. Also, the common area amenities include a fitness center, guest laundry facilities, picnic area, indoor heated pool, and a business center.
The city of Texarkana, Texas is located in Bowie County, Texas, approximately 180 miles northeast of Dallas, Texas, and 70 miles north of Shreveport, Louisiana. It effectively functions as one-half of a city which crosses a state line, and the other half, the city of Texarkana, Texas, lies on the other side of State Line Avenue. The city, along with its Texas counterpart, forms the core of the Texarkana, TX-Texarkana, AR Metropolitan Statistical Area, encompassing all of Bowie County, Texas, and Miller County, Arkansas.
Agent for this listing
Associate, National Hospitality Group
Office: (972) 755-5171
Mobile: (979) 229-7673
Fax: (972) 755-5210