Holiday Inn Express & Suites Lubbock West | 6023 45th St
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Holiday Inn Express & Suites Lubbock West 6023 45th St
82 Room Hotel Lubbock, TX 79407 £7,871,382 (£95,992/Room) 7.32% Net Initial Yield
Investment Highlights
- Strong Brand Recognition: The Holiday Inn Express, a renowned and trusted name within the IHG portfolio, draws a devoted customer base.
- Prime Location: Situated just 5 miles from Texas Tech University and 2 miles from Lubbock Christian University, with easy access to Lubbock.
- Infrastructure Improvements: A $19 million project to upgrade Upland Avenue to a five-lane road will enhance access and visibility.
- Recently Completed PIP: Benefit from a recently completed Formula Blue 1 PIP (2021).
- Economic Growth: The $1 billion Leprino Foods plant, opening in 2025, will bring over 600 new jobs, boosting hotel demand.
- Operational Potential: New ownership can optimize operations and implement strategies for increased profitability.
Executive Summary
Matthews Real Estate Investment Services™ presents the exclusive listing opportunity to acquire the fee-simple interest in the 82-room Holiday Inn Express & Suites Lubbock West. The hotel was renovated to Formula Blue 1 in 2021 and is located five (5) miles from Texas Tech University and two (2) miles from Lubbock Christian University. The asset boasts strong real estate fundamentals in the growing Lubbock market with multiple demand drivers including the Reese Technology Center and Lubbock Preston Smith International Airport. The upcoming $1 billion Leprino Foods plant, set to open in 2025, is expected to bring over 600 jobs to the area, further enhancing local demand.
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | £7,871,382 | Building Size | 49,532 SF |
| Price Per Room | £95,992 | No. Rooms | 82 |
| Sale Type | Investment | Number of Floors | 4 |
| Net Initial Yield | 7.32% | Year Built | 2010 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 1.01/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.84 AC |
| Price | £7,871,382 |
| Price Per Room | £95,992 |
| Sale Type | Investment |
| Net Initial Yield | 7.32% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.84 AC |
| Building Size | 49,532 SF |
| No. Rooms | 82 |
| Number of Floors | 4 |
| Year Built | 2010 |
| Tenancy | Single |
| Parking Ratio | 1.01/1,000 SF |
| Corridor | Interior |
Amenities
- Business Centre
- Fitness Centre
- Pool
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 31 | £96.35 | - |
| Guest Room | 51 | £89.30 | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £4,146,026 | |
| Land Assessment | £710,434 | Total Assessment | £4,856,460 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£710,434
Improvements Assessment
£4,146,026
Total Assessment
£4,856,460
zoning
| Zoning Code | F1 |
| F1 |
Contacts
-
Alfonso Garcia -
Mitchell Glasson -
Ryan Kawai Sanchez -
Matthews Real Estate Investment Services
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Holiday Inn Express & Suites Lubbock West | 6023 45th St
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