- 53-Room, Interior Corridor, Midscale Hotel Built in 2004|
- Priced Below Replace Cost at $80,189 Per Key
- The Choice “Move to Modern” PIP was completed in December 2020
- 91% RevPAR Index -- Offers Upside to Increase Room Rates to be Competitive with the Market
- Ability for Hands-On-Owner-Operator to Decrease Expenses & Increase Net Operating Income
- Half a Mile from Heartland Mall and Seven Miles from Kohler, the Largest Employer in the City
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Comfort Inn Early Brownwood. The Choice-branded hotel is offered at $4,250,000 or $80,189 per key and sits on 1.4 acres along US Hwy 84 E.
Located half a mile from Heartland Mall, the hotel is properly positioned to take advantage of business and leisure travel in the market. With a substantial amount of travel and daily commutes in Early, the US Hwy 84 corridor daily traffic counts exceed 25,800, the largest in Early/Brownwood.
This three-story, 53-room hotel presents a new investor the chance to acquire this opportunistic asset in Early/Brownwood. The hotel's franchise will require a change-of-ownership PIP. With year-to-date hotel RevPAR index above 90% due to below-market ADR, the hotel offers further opportunity for rate escalation from a new owner; additionally, a deeper look at departmental expenses will show current inefficiencies in operations with upside available to see an increase in EBITDA.
Located in the heart of the Texas Hill Country, and home to Lake Brownwood State Park, Early/Brownwood houses an abundance of economic drivers that boost the hospitality market. Some notable major employers near the hotel include Kohler, 3M, Superior Essex Corp, and Texas Youth Commission. Furthermore, the Howard Payne University, Brownwood Regional Medical Center, and the Brown County Museum of History are all a short drive away. Lastly, the property benefits greatly from its location to Brownwood Regional Airport and the surrounding economic impact of the airport.
Current expenses include provisions for a four percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.
The Comfort Inn Early Brownwood is a 53-room, three-story, interior corridor hotel built in 2004. Well-equipped with numerous common area and guest room amenities, this limited-service midscale hotel offers spacious guest rooms that come furnished with a microwave, refrigerator, work desk, and flat-screen television. Common area amenities include an indoor pool and spa tub, fitness center, 24-hour business center, meeting room, and guest laundry.
Early, Texas is a city located in Brown County just outside Brownwood in west-central Texas. Comfort Inn is located conveniently off Hwy 377 (Early Boulevard) near Hwy 183. The hotel is near local attractions such as Lake Brownwood, a 7,300-acre reservoir, which hosts fishing, boating, and water skiing, and the Spirit of Texas Winery. Brown County is home to over 20 outdoor recreational parks including the only Sound Garden in the area. The Lehnis Museum is located only 1.7 miles from the hotel. Early is within 175 miles of Austin, Dallas-Fort Worth, and Waco making it easily accessible by car for visitors seeking outdoor adventures and relaxation.