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- LoopNet Team
1012 NE 1st Pl
Andrews, TX 79714
La Quinta Inns & Suites Andrews · Hospitality Property For Sale · 44,000 SF
Investment Highlights
- Little or No PIP Expectations for New Buyer
- #1 Rated Hotel in Andrews TX per TripAdvisor
- Attractively Priced at a 14.4% Cap Rate
- Ideal for Owner Operator or Third Party Management
- Located at Intersection of Highways 176, 385, 115
- Currently Achieves 159% of Competitive Set RevPAR Index
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built | 2015 |
| Building Class | C | Parking Ratio | 1.82/1,000 SF |
| Lot Size | 1.80 AC | Corridor | Interior |
| Building Size | 44,000 SF |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.80 AC |
| Building Size | 44,000 SF |
| No. Stories | 3 |
| Year Built | 2015 |
| Parking Ratio | 1.82/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- Meeting Event Space
- Public Access Wifi
About 1012 NE 1st Pl , Andrews, TX 79714
The La Quinta Inns & Suites Andrews Texas is a very high performing 66 room, 3 story, interior-corridor, midscale hotel constructed in 2015. Ideal for an owner operator or professional third party management, this asset boasts strong room sales which have been increasing over the last three years. Attractively priced at a 12.9% cap rate and room revenue multiplier, the property is priced to sell. Currently ranked as the #1 hotel in Andrews, Texas per TripAdvisor, this property is expected to have little or no PIP for the new owner. With spacious, updated accommodations, an elevator, indoor pool & spa, 500 sqft meeting space, business center, and located at the intersection of multiple highways including highways 385, 176, and 115, this asset is ideally situated to serve transient highway, local, and corporate guests. BOR JOHN WOLF, SIOR 2515 McKinney Avenue, Suite 1300 Dallas, TX 75201 329107
PROPERTY TAXES
| Parcel Number | 04351-00030-0000 | Improvements Assessment | $4,375,280 |
| Land Assessment | $135,200 | Total Assessment | $4,510,480 |
PROPERTY TAXES
zoning
| Zoning Code | Commercial |
| Commercial |
Learn More About Investing in Hospitality Properties
