1620 Interstate 40, Amarillo, TX 79103
104 Room Hotel | Amarillo, TX 79103 | For Sale
For Sale
Active
- Property Type
-
Hospitality
- Square Feet
- 33,968 SF
Listing Contacts
Oliver Cooper
Property Overview
This offering is for a 2-story, 104-room hotel built in 1985. It is situated on a 3.17 acre site with high visibility and convenient access along Interstate 40 in Amarillo, TX. Amarillo is the 15th largest city in Texas with a population over 200,000.
The hotel was last sold in 2016. At that time the hotel was operated as a Red Roof Inn with annual revenue of $1,225,857 and Net Income of $384,212 (2015), and the property appraised for $3,160,000.
An STR Trend Report of 11 economy hotels in the Amarillo area yielded a trailing 12 months RevPAR of $26.80 (STR data as of September 2023). If the subject property were to perform at the market average projected revenue would be $1,017,581.
The property is zoned Light Commercial District (LC) allowing for a range of uses including multifamily housing.
The hotel was foreclosed in 2024 and the property is now overseen by a management company. No rooms are being rented.
Due diligence information available for the property is limited. All buyers are advised to perform their own due diligence prior to offer selection. The property is offered in AS-IS condition.
Deadline to submit offer: July 10, 2024.
Interested buyers are invited to contact us if you have further interest in this opportunity, would like to visit the property, or submit an offer. All property visits are by appointment only. Please do not contact the hotel or speak with the staff.
The hotel was last sold in 2016. At that time the hotel was operated as a Red Roof Inn with annual revenue of $1,225,857 and Net Income of $384,212 (2015), and the property appraised for $3,160,000.
An STR Trend Report of 11 economy hotels in the Amarillo area yielded a trailing 12 months RevPAR of $26.80 (STR data as of September 2023). If the subject property were to perform at the market average projected revenue would be $1,017,581.
The property is zoned Light Commercial District (LC) allowing for a range of uses including multifamily housing.
The hotel was foreclosed in 2024 and the property is now overseen by a management company. No rooms are being rented.
Due diligence information available for the property is limited. All buyers are advised to perform their own due diligence prior to offer selection. The property is offered in AS-IS condition.
Deadline to submit offer: July 10, 2024.
Interested buyers are invited to contact us if you have further interest in this opportunity, would like to visit the property, or submit an offer. All property visits are by appointment only. Please do not contact the hotel or speak with the staff.
Property Details
- Class
- C
- Year Built/Renovated
- 1985/2011
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 138,085 SF
- Units
- 104
Highlights
- 104 rooms, 2 Stories
- Centrally Located in Amarillo, TX
- High Visibility and Convenient Access to Interstate 40
- $1,225,857 Annual Revenue During Previous Ownership (2016)
- $1,017,581 Annual Projected Revenue Based on Market Average RevPar (Sept 2023)
- Zoning Allows for a Range of Uses Including Multifamily Housing
Nearby Properties
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