1128 Central Fwy, Wichita Falls, TX 76306
139 Room Hotel | Wichita Falls, TX 76306 | $2,900,000 ($20,863/Room) | 11.42% Cap Rate
For Sale
Active
Asking Price $2,900,000
- Property Type
-
Hospitality
- Square Feet
- 49,996 SF
Listing Contacts
- Property Info
Property Overview
Tabani Realty is pleased to present the La Quinta Inn by Wyndham in Wichita Falls, Texas. The limited-service hotel has 139 guestrooms and is listed at $20,864 per key. The La Quinta in Wichita Falls is a mismanaged property with potential to cut costs and increase NOI. The property offers 139 guestrooms with interior corridors which were renovated in 2014. The building has an overall living space of 49,996 SF across two floors. The La Quinta Inn sits on 2.98 acres of land which is also included in the sale.
The La Quinta Inn by Wyndham in Wichita Falls Event Center North sits directly on I-44, close to the heart of Wichita Falls. This location experiences high volumes of pass-through traffic due to both the major throughway and the large Wichita Falls Sports Complex.
The La Quinta Inn by Wyndham in Wichita Falls Event Center North sits directly on I-44, close to the heart of Wichita Falls. This location experiences high volumes of pass-through traffic due to both the major throughway and the large Wichita Falls Sports Complex.
Property Details
- Class
- B
- Year Built/Renovated
- 1972/2014
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 128,938 SF
- Units
- 139
Highlights
- ADR & RevPAR lower than comps, scope for improvement for new ownership.
- Offered at $20,864 per key.
- Offered at Cap rate of 11.42%
- Mismanaged property, absentee operator, potential to cut costs and increase NOI and Revenue.
- Sits directly on I-44 with high visibility.
- Can be converted to other Wyndham Family brands.
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