- 76-Room, Exterior Corridor, Independent, Extended Stay Hotel
- Current Absentee Ownership
- Five Miles from Texarkana Regional Airport, Services the Four-State Region with Direct Flights to DFW
- Less Than Two Miles From CHRISTUS St. Michael Health System
- Value-Add Opportunity
- Within Texarkana TX-AR MSA
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Studio Inn Extended Stay - Texarkana. The independent hotel is offered on a Request for Offers basis and sits on 1.86 acres within the Texarkana TX-AR MSA.
Located five miles from Texarkana Regional Airport, 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 along I-30 and St Michael Dr interchange, the hotel is poised to capitalize on daily traffic counts exceeding 41,000.
This two-story, 76-room hotel was originally built as a corporate-owned Motel 6. The current owner converted the asset to an independent hotel in 2018. Forty-six of the 76 rooms have been converted to extended-stay units. All 46 units contain kitchenettes. Current ownership is absentee. New ownership can benefit from hands-on management.
Popularly known as a major distribution hub, and home to Texas A&M University - Texarkana, Texarkana houses an abundance of economic drivers that boost the hospitality market. Some notable major employers near the hotel include Red River Army Depot, The Museum of General History, and Texarkana College. Furthermore, Webb Field services the four-state region and provides commercial jet service to DFW. The Dallas/Fort Worth MSA is approximately 2.5 hours away; Shreveport, Louisiana is 1.25 miles from the hotel.
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 Studio Inn Texarkana is an independent 71-room, extended-stay hotel. The guest rooms feature a microwave, flat-screen television, a workspace, and in certain rooms, a full-size refrigerator. The hotel also offers an outdoor swimming pool, vending machines, and guest laundry facilities.
Texarkana, Texas is located in the northeastern part of the state and is a city that occupies two states including Arkansas. The Studio Inn Texarkana is located centrally off of Interstate 30 just west of the Texas/Arkansas state line. The region is home to diverse industries and demand generators. In 2018, Lionchase Holdings Incorporated announced plans to build a $20 plus million Frigitek facility at TexAmericas (4.3 miles). The development will be a 200,000-square-foot cold storage property which is anticipated to attract additional leads from food processors, manufacturers, and distributors to locate to the region. The TexAmericas Center is 12,000 development-ready acres and approximately three million square feet of commercial and industrial industries that services four states. The Red River Army Depot (18.7 miles) also has a presence in the region and occupies 15,375 acres, houses more than 1,400 buildings, and is host to 16 tenant organizations. In addition, Cooper Tire & Rubber Company (7.5 miles) is a manufacturing facility that is worldwide and reported $2.81 billion in revenues in 2018. Texas A&M Texarkana (4.5 miles) houses international students from more than 20 countries with an enrollment of over 1600 students. The university hosts a multitude of scholastic events, community gatherings, and open houses for future students. Webb Field, the Texarkana Regional Airport (5.6 miles), provides commercial jet service to DFW airport to the four-state region.