407 Central Expressway South, Allen, TX 75013
**DO NOT VISIT PROPERTY WITHOUT ARRANGING A TOUR WITH AGENTS**
Marcus & Millichap’s National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Quality Inn Allen. The hotel is a 58-room, interior corridor, two-story hotel located in the highly desirable Dallas/Fort Worth metroplex and is situated directly off United States Highway 75. The property was originally built in 1996 and had renovations in 2016, including cosmetic updates to guestrooms.
The Quality Inn Allen is being offered at $4.7M, and the property is being delivered with a minimal PIP. Significant upgrades and improvements were recently completed above and beyond PIP requirements. Currently, the property is being run by a first-time (absentee) owner which should give a new owner/operator a chance to implement aggressive operations resulting in greater ADR and RevPar. The property is currently trending with a room revenue of nealy 1.1M, resulting in an adjusted Net Operating Income of approximately $393,120 based on the Trailing Twelve Months ended July 2017. Underwritten with a conservative five-year forecast, a new investor can expect a potential Leveraged IRR in a Year-5 exit of 30.20 percent.
The Quality Inn Allen is a 58-room, interior corridor hotel, located in Allen, Texas, which is within the Dallas-Fort Worth MSA. The hotel was constructed in 1996 and was renovated in 2016, and includes amenities such as a meeting room, ample car/truck/bus parking, indoor heated pool, indoor whirlpool/hot tub, and exercise room. The property is a government travelers Federal Emergency Management Agency (FEMA) approved hotel. Also, the rooms are equipped with a microwave, mini-refrigerator, desk, flat screen television, and premium bedding.
Allen, Texas is located in Collin County and is situated 29 miles north of downtown Dallas. Dallas, is the fourth largest city in the Dallas-Fort Worth region and is home to many leading global corporations. The property is 9.8 miles from The Campus at Legacy, which is home to major corporations including Fortune 1000 Headquarters for JCPenney, Dr. Pepper Snapple Group, and Rent-A-Center. The newly opened Toyota Headquarters is located less than 12 miles from the Quality Inn Allen, which employs 4,000 North Texans. Also, points of interests such as the Allen Premium Outlets and Collin Creek Mall are within a 7 mile radius from the hotel. The Allen Event Center is 3 miles from the hotel and hosts numerous conventions and trade shows, such as the annual the Collin County Home and Garden Show and the Allen Bridal Show all attracting thousands of attendees. Furthermore, the Dallas -Fort Worth International Airport is less than 34 miles from the Quality Inn Allen.
Agent for this listing
Associate, National Hospitality Group
Office: (972) 755-5171
Mobile: (979) 229-7673
Fax: (972) 755-5210