Quality Inn McKinney

$6,200,000

1300 N Central Expressway, McKinney, TX 75070

Details

  • $6,200,000
  • Midscale

Investment Overview:

The Quality Inn in McKinney Texas, is a 100-room, exterior corridor hotel located in McKinney Texas, directly off Central Expressway (Highway 75). McKinney is a northern suburb of Dallas, Texas, and is located just 30 miles north of Dallas downtown.

The hotel went through a renovation in 2017 which included replacement of carpet, draperies, bedding, LED lighting, air-conditioners (partial), bathtubs resurfacing, lowflow toilets (partial), full lobby and ballroom upgrade. The hotel features an outdoor swimming pool, breakfast area, meeting space, ample parking, and a fitness room.

The property is presented in the marketplace for sale at $6.2M, or $62,000 per room which is significantly below replacement cost. The cap rate at list price is approximately 9.68 percent with a cash-on-cash return of about 19 percent, based on moderate leverage.

Property Overview:

The Quality Inn in McKinney Texas, is a 100-room, exterior corridor hotel located in McKinney Texas, directly off Central Expressway (Highway 75). The hotel was partially renovated in 2017. The hotel features an outdoor swimming pool, breakfast area, meeting space, ample parking, and a fitness room.

Location Overview:

The city of McKinney, Texas, is in Collin County and is part of the greater Dallas/Fort Worth Metroplex. The city is approximately 30 minutes from North Dallas and the Collin County Regional Airport. The Heard Natural Science Museum & Wildlife Sanctuary attracts over 100,000 visitors annually and is located five miles from Quality Inn McKinney. Also, According to Money Magazine, McKinney was voted the #1 Best Place to Live in America for 2014. Since 2010 McKinney has been featured in Money Magazine as one of America’s best places to live with reporters taking into consideration employment, schools, crime, safety and overall quality of life to determine rankings.

The highly educated workforce of McKinney includes approximately 400,000 individuals working in medical, technology, data management, manufacturing, sustainability, aviation, defense, retail, office, and transportation industries.

Agent for this listing

Chris Gomes

Senior Managing Director Investments, National Hospitality Group
Office: (972) 755-5302
Mobile: (972) 786-2719
Fax: (972) 755-5210
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