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- LoopNet Team
1615 US Highway 287 E
Vernon, TX 76384
Hotel Vernon · Hospitality Property For Sale · 25,552 SF
Investment Highlights
- 48 Units
- 2021 Room Revenue: $880,000 and Increasing
- 2 Hours from Dallas/Fort Worth, with Ample Truck/RV Parking Available
- Fully Renovated Former Best Western
- Highly Profitable: 2019 Net Operating Income was $442,316 (Cap Rate of 16%)
- Excellent Opportunity for Owner-Operator with 2 Manager's Quarters
PROPERTY FACTS
| Property Type | Hospitality | Number of Floors | 1 |
| Property Subtype | Hotel | Year Built | 1959 |
| Building Class | C | Parking Ratio | 1.88/1,000 SF |
| Lot Size | 1.63 AC | Corridor | Exterior |
| Building Size | 25,552 SF |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.63 AC |
| Building Size | 25,552 SF |
| Number of Floors | 1 |
| Year Built | 1959 |
| Parking Ratio | 1.88/1,000 SF |
| Corridor | Exterior |
Amenities
- Business Centre
- Pool
- Restaurant
- Shuttle Service
About 1615 US Highway 287 E , Vernon, TX 76384
The Hotel Vernon in Vernon, TX is at 48 unit, former Best Western located off of TX Freeway 283 and 287, next to Main street and northwest of Dallas by a couple hours. It is in excellent condition, and is highly profitable, perfect for an owner-operator. . There are two separate manager's quarters: A 1-bed 1-bathroom apartment behind the front office, and another 2-bed 2-bathroom apartment with family room & kitchen. There is a restaurant on-site, the Bradford's Fish Haus, that provides lease income of additional $2,500 per month. It was a Best Western for 30 years prior to 2 years ago. The hotel is in excellent condition, after undergoing major renovations in 2016 and 2017. 30 units are in the main building, and 18 units in the smaller building. The Seller may also consider selling additional lots adjacent to the hotel for a serious Buyer, to the East, South and West of the hotel.
PROPERTY TAXES
| Parcel Number | 7198001 | Improvements Assessment | £1,253,891 |
| Land Assessment | £65,691 | Total Assessment | £1,319,582 |
PROPERTY TAXES
zoning
| Zoning Code | F1 |
| F1 |
