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1305 N Tool Dr
Tool, TX 75143

The Ranch Suites Motel · Hospitality Property For Sale · 12,508 SF

INVESTMENT HIGHLIGHTS

  • 13.73% Cap Rate
  • Highest rated hotel/motel in Cedar Creek Lake area based on various online platforms
  • Awarded Best of Tool Award for three consecutive years, 2019, 2020, & 2021
  • Extremely high occupancy rate
  • REVENUES NOT Affected by COVID-19
  • Voted 2021 THE BEST place to stay in the Cedar Creek Lake area

PROPERTY FACTS

Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 0.63 AC
Building Size 12,508 SF
No. Stories 1
Year Built/Renovated 2008/2011
Parking Ratio 1.36/1,000 SF
Corridor Interior

ABOUT 1305 N TOOL DR , TOOL, TX 75143

- REVENUES NOT Affected by COVID-19 - 13.73% Cap Rate - Extremely high occupancy rate General Information: -Website: www.theranchsuites.com -17 Total Units - 10 suites include 1 queen bed, 1 fold out, full size kitchen, and living area (Of these 10 suites, 2 of those are in a separate duplex building and 1 is in a single detached suite by itself) - 4 suites with 2 beds, full size kitchen and living area - 2 Studios include 1 queen bed, mini fridge, microwave, and coffee maker - 1 Manager Suite w/private garage, full size kitchen, laundry, living area and backyard - Improvements: - Numerous small updates September, October, November, and December 2020 (New HW heater, painted baseboards, trim, and doors in rooms, painted walkways, trim outside, gutters etc.) - Installed new flooring in 1 suite October 2020 - Installed new flooring in 4 suites July 2020 - Redid parking March 2020 - Added additional 250 bales of insulation to all attic space for reduced electric bills (R-30+ value) in November 2019 - Replaced roof on duplex November 2019 - Installed new security camera system June 2019 - Repainted decks and fence March 2019 and November 2020 - Poured new concrete walkway, Installed new siding and added electric to back deck March 2019 - New landscape lighting 2018 - Highlights: - FANTASTIC full time manager for past 4 years - Manager is flexible and willing to stay or leave depending on new owner's wishes - Motel could be owner managed if desired and new owner would have higher net return/revenue with 16.4% cap - Owner and manager willing to train new owner and replacement manager if necessary - LOTS of repeat customers for years (despite several rate increases) - Property highly maintained and consistently/constantly updated. - Reviews and Awards: - Winner of best hotel/motel for the Cedar Creek Lake Area 2019, 2020, & 2021 - Highest rated hotel/motel in Cedar Creek Lake area based on various internet platforms - 4.5 stars on Google - 9.6 star rating from booking.com and preferred place to stay for the area on booking.com (booking.com sends guests to The Ranch Suites over competitors)

PROPERTY TAXES

ZONING

Zoning Code Real Commercial F1 (Commercial)
  • Listing ID: 19366638

  • Date on Market: 4/28/2020

  • Last Updated:

  • Address: 1305 N Tool Dr, Tool, TX 75143