Offers Due Date: February 1, 2021
- 79-Room, Interior Corridor, Independent Hotel Built in 2014
- LENDER SHORT SALE – Offered Significantly Below Replacement Cost
- Absentee Ownership
- Well-Maintained Asset with Little Deferred Maintenance
- 59 Percent RevPAR Index with Significant Upside to Increase Room Revenue and be Competitive in the Market
- Property Sits on Large Plot of Land Approximately 3.04 Acres
- Ideal Asset for Experienced Hotelier with Existing Brand Affiliation
- Less than 100 Miles from San Antonio
Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Yonder Inn Beeville. As a lender approved Short Sale, the independent hotel is being sold on a Call for Offers basis. Constructed in 2014, the property is on the northside of Beeville on Highway 181 along the frontage road.
This 79-room hotel presents a new owner the opportunity to acquire a hospitality asset below replacement cost. The hotel is well-equipped with favorable amenities such as an outdoor pool, on-site bar, and business center. The property room mix includes both regular and extended stay units.
Historically, the hotel has achieved room revenues greater than $800K but, due to COVID-19, the subject property has experienced a decline in revenues over the trailing-12-month period. By focusing on operational efficiency, a new owner should be able to reposition, stabilize, and capitalize on positive cash flow from this property. Although the property is the most recently built amongst its comp set, it is only operating at 59 percent of the RevPAR index. The hotel is well-kept with little deferred maintenance. A hotelier can convert the property to a branded franchise, capitalize on loyalty bookings, and maximize market share.
The expenses include provisions for a four percent reserve for capital replacement. The subject property is fee simple, unencumbered by a management contract and debt.
The Yonder Inn Beeville is a 79-room, three-story, limited-service hotel built in 2014. Equipped with numerous common area and guest room amenities, this midscale hotel offers spacious guest rooms that come furnished with a microwave, refrigerator, work desk, and a lounge chair. Some common area amenities the hotel has to offer consist of an outdoor pool, fitness center, business center, a terrace, meeting room, gift shop, and a picnic area.
Beeville, Texas is a city located in Bee County in the southern region of the state, 60 miles northwest of Corpus Christi and 90 miles southeast of San Antonio. The Yonder Inn Beeville is positioned off U.S Highway 181 Frontage Road and East FM 351. Located a few miles from the downtown area, this hotel is near many popular revenue generators and major employers. Guests looking to head outdoors will be able to enjoy beautiful parks in the city like Poesta Park (three miles) and Veterans Park (3.4 miles), an additional outdoor activity consists of golfing at the Beeville Country Club. Other revenue generators include the Beeville Art Museum (1.7 miles), Rio 6 Cinema (2.2 miles), Beeville Flea Market (2.2 miles), and the Beeville Municipal Airport (8.4 miles). Many of the city’s major employers include the CHRISTUS Spohn Hospital Beeville (1.7 miles), Wal-Mart Supercenter (1.8 miles), and the Coastal Bend College (2.8 miles).