1301 S 9th St, McAllen, Texas 78501
The Red Roof Inn & Suites is offered as a fully renovated turnkey, fee simple delivery to a prospective investor at $3.475 million or $65,566 per room. The hotel’s pro forma financials are projected based on market, competitive set and owner-operator business strategy; at an anticipated RevPAR of almost $43.25 in Year One Pro Forma. The Net Operating Income is calculated based on an owner operator standard average of approximately 40 percent and additional rental income from restaurant space located in the lobby, which results to $325,485 NOI in Pro Forma. This NOI includes a four percent Capital Reserve. The property also features a two bedroom manager’s living quarters, presenting an excellent opportunity for an owner-operator.
Red Roof Inn McAllen is a 53-room, interior corridor, economy hotel located in the heart of the Rio Grande Valley. The property was originally built in 1990 and is receiving a complete renovation, including new exterior paint throughout. Red Roof Inn McAllen offers an outdoor pool & hot tub and continental breakfast bar and dining area in the lobby. The property was previously operated as an independent hotel and was recently converted to a Red Roof Inn. All guest rooms are currently being upgraded in line with Red Roof Inn NextGen standards. The new premium room finishes feature higher-end bedding, a flat-screen TV, faux-wood flooring, microwave, and minifridge. Renovations of all guest rooms and lobby are expected to be completed in early August 2017.
McAllen is the twenty-first most populous city in Texas and the largest city in Hidalgo County, Texas. It is located at the southern tip of Texas in the Rio Grande Valley and is part of the Southern United States. It is on the Rio Grande, across from the Mexican city of Reynosa, and is about 70 miles west of South Padre Island and the Gulf of Mexico. The 2010 United States census put the city’s population at 129,877 and the McAllen,Edinburg, and Mission metropolitan area at 774,773. It is ranked the fifth most populated metropolitan area in the state of Texas.
The Reynosa and McAllen Metropolitan Areas counts a population of nearly 1.5 million. Red Roof Inn McAllen is 1.3 miles from the Plaza Mall and Quinta Mazatlan and 3.2 miles from Palm View Golf Course. McAllen Convention Center and The Zone Action Park are also within three miles. With a great location close to downtown McAllen, the hotel is only 1.6 miles from McAllen Miller International Airport. Located just 5.6 miles from the Foreign Trade Zone, the subject hotel is an ideal base for business travelers. Nearby corporations include Panasonic, Emerson, and General Motors.
Agent for this listing
Senior Associate, National Hospitality Group
Office: (210) 343-7804
Mobile: (956) 251-3282
Fax: (210) 343-7810