- Two-Story, 72-Room, Extended-Stay Hotel in the Dallas-Fort Worth Metropolitan Statistical Area
- Located Within Richardson’s Telecom Corridor Hosting Over 1,000+ Businesses
- Strategic Position off U.S. 75 Expressway
- Ideal In-Place Operations – Room Revenues Averaging Over $1.18 Million since 2019 Through the Trailing Twelve-Month Period Ending in February 2022
- RevPAR Trending Upwards and Increased Over 50 Percent from 2020 to 2021
As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Hawthorn Suites (‘Hotel’ or ‘Property’) in Richardson, Texas. The Wyndham-branded Hotel is offered on a call for offers basis, please reach out to the listing agent for pricing details.
The Hawthorn Suites by Wyndham Richardson is a seven-building, 72-room, two-story Hotel stationed at 250 Municipal Drive, just off U.S. Highway 75. The Property was originally constructed as an apartment complex and features several amenities of a well-positioned extended-stay asset, such as an outdoor pool, business center, meeting and event space, fitness center, and guest laundry facilities. Spacious guest rooms offer a flat-screen television, refrigerator, microwave, and kitchenettes.
The city of Richardson, Texas, is in Collin County and is a part of the greater Dallas/Fort Worth metroplex, located approximately 10 miles north of downtown Dallas. Richardson is home to the University of Texas Dallas (3 miles), and the Telecom Corridor - a high concentration of telecommunications companies including AT&T (1.4 miles), Verizon (2.6 miles), Cisco Systems (4 miles), MetroPCS (0.9 miles), and Texas Instruments (3 miles). The site is not only near many major employers but also countless entertainment options and attractions. The Hawthorn Suites Richardson is 1.5 miles from the Eisenmann Center for Performing Arts, 7.9 miles from the Dallas Galleria, 7.5 miles from Breckinridge Park, 3.9 miles from Adventure Landing, and 12.7 miles from the Dallas Arboretum and Botanical Garden. State Farm Insurance and Blue Cross and Blue Shield of Texas, two of the city's largest employers, are located approximately 2.8 and 1.6 miles from the Hotel, respectively, and are prime revenue drivers for the surrounding area.
The extended-stay Hotel has solidified market penetration in the midscale space, recording over $1.3 million through the trailing twelve-month period ending in February 2022. In the same period, the Property secured a net operating income of nearly $630 thousand or 45.2 percent of total revenues, after a 4 percent capital replacement reserve. The strong operations present an opportunity for a new investor to acquire a well-positioned asset and collect exceptional cash flow.
