Holiday Inn Express & Suites Port Lavaca | 2629 Tx 35
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Holiday Inn Express & Suites Port Lavaca 2629 Tx 35
79 Room Hotel Port Lavaca, TX 77979 £8,510,848 (£107,732/Room) 10.43% Net Initial Yield
Investment Highlights
- Formula Blue PIP Completed in 2019 with an Additional $150K Spent After Completion of the Renovation
- Port Lavaca is a Major Hub for Oil & Gas Drilling and Plastics Manufacturing
- Trip Advisor's #1 Hotel in Port Lavaca
- Turnkey Hotel with Strong Leisure & Workforce Demand; Preferred Hotel for the Local Workforce
- Property is Located 7 Miles from Formosa Plastics which Generated $8.4B in Revenue in 2022. 1 of 3 Manufacturing Plants Nationwide
Executive Summary
To view offering summary and due diligence please visit https://holidayinnexpresssuitesportlavaca.sharplaunch.com/ or contact Johnny Casler directly at (919) 606-2263 for more information.
Marcus & Millichap has been chosen to exclusively market for the sale the Holiday Inn Express & Suites Port Lavaca in Port Lavaca, Texas. This property is a 3-story, interior corridor hotel with 79 rooms, located directly on the water of the Gulf Coast. Holiday Inn Express Port Lavaca is completely renovated with a formula blue PIP completed in 2019 and over $150K spent since the current owner's acquisition in 2022. Hotel guests are welcomed with common area amenities including complimentary breakfast, a business and fitness center, outdoor swimming pool, gazebo and BBQ grills.
Port Lavaca is most commonly known for their presence in the plastics manufacturing industry. The property is located less than 10 minutes from Formosa Plastics, which generated $8.4B in revenue in 2022 and is 1 of just 3 major manufacturers in the U.S. Holiday Inn Express & Suites Port Lavaca is the preferred hotel for the local workforce as well as the leisure travelers visiting Port Lavaca for the beaches and popular saltwater fishing excursions.
Marcus & Millichap has been chosen to exclusively market for the sale the Holiday Inn Express & Suites Port Lavaca in Port Lavaca, Texas. This property is a 3-story, interior corridor hotel with 79 rooms, located directly on the water of the Gulf Coast. Holiday Inn Express Port Lavaca is completely renovated with a formula blue PIP completed in 2019 and over $150K spent since the current owner's acquisition in 2022. Hotel guests are welcomed with common area amenities including complimentary breakfast, a business and fitness center, outdoor swimming pool, gazebo and BBQ grills.
Port Lavaca is most commonly known for their presence in the plastics manufacturing industry. The property is located less than 10 minutes from Formosa Plastics, which generated $8.4B in revenue in 2022 and is 1 of just 3 major manufacturers in the U.S. Holiday Inn Express & Suites Port Lavaca is the preferred hotel for the local workforce as well as the leisure travelers visiting Port Lavaca for the beaches and popular saltwater fishing excursions.
Property Facts
| Price | £8,510,848 | Lot Size | 2.68 AC |
| Price Per Room | £107,732 | Building Size | 30,405 SF |
| Sale Type | Investment | No. Rooms | 79 |
| Net Initial Yield | 10.43% | Number of Floors | 3 |
| Property Type | Hospitality | Year Built/Renovated | 2010/2019 |
| Property Subtype | Hotel | Parking Ratio | 2.76/1,000 SF |
| Building Class | B | Corridor | Interior |
| Price | £8,510,848 |
| Price Per Room | £107,732 |
| Sale Type | Investment |
| Net Initial Yield | 10.43% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.68 AC |
| Building Size | 30,405 SF |
| No. Rooms | 79 |
| Number of Floors | 3 |
| Year Built/Renovated | 2010/2019 |
| Parking Ratio | 2.76/1,000 SF |
| Corridor | Interior |
Amenities
- Business Centre
- Fitness Centre
- Pool
- On-Site Retail
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 17 | £105.11 | - |
| Guest Room | 62 | £93.34 | - |
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PROPERTY TAXES
| Parcel Number | 77842 | Improvements Assessment | £5,627,919 |
| Land Assessment | £412,885 | Total Assessment | £6,040,804 |
PROPERTY TAXES
Parcel Number
77842
Land Assessment
£412,885
Improvements Assessment
£5,627,919
Total Assessment
£6,040,804
zoning
| Zoning Code | F1 |
| F1 |
-
John Casler -
Josh Tammen -
Timothy Speck -
Marcus & Millichap
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Holiday Inn Express & Suites Port Lavaca | 2629 Tx 35
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