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808 61st St
Galveston, TX 77551

Candlewood Suites Galveston · Hospitality Property For Sale · 41,232 SF

Investment Highlights

  • In the past two years, ownership completed an extensive renovation of multiple areas of the property. A minimal change-of-ownership PIP is expected.
  • Great opportunity for new management to target long-term contracts and improve revenues.
  • In a typical year, there are over 80 year-round festivals, special events, sporting events, and gatherings held in this area.
  • Rooms revenues are up 68.8% through November 2021 year-to-date and are on pace to be over $1,600,000 by year-end.
  • Over 55% of the November 2021 YTD room revenues are generated from the top 100 accounts.
  • Strong demand generated during the spring and summer months in Galveston, Texas.

PROPERTY FACTS

Property Type Hospitality
Property Subtype Hotel
Building Class B
Lot Size 1.47 AC
Building Size 41,232 SF
No. Stories 3
Year Built/Renovated 2005/2020
Parking Ratio 2.01/1,000 SF
Corridor Interior

Amenities

  • Business Center
  • Fitness Center
  • Pool
  • High Speed Internet Access
  • Patio
  • Meeting Event Space
  • Public Access Wifi
  • Fully-Equipped Kitchen

PROPERTY TAXES

zoning

Zoning Code S (Commercial (NEC))
  • Listing ID: 24641889

  • Date on Market: 12/10/2021

  • Last Updated:

  • Address: 808 61st St, Galveston, TX 77551