160 Wagon Point DrHouston, TX 77090
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 126
Highlights
- Significant operational upside for a new operator; current GOP margin is 27%, but comparable hotels achieve 42-48%; RevPAR penetration index is 80.9%, indicating room for improvement.
- Strong revenue growth; TTM rooms revenue is $2.25 million, a 16.1% year-over-year increase; year-to-date demand is up 11.6%.
- High-quality asset priced below replacement cost; $85,000 per key, compared to estimated replacement cost of $150,000-$180,000 per key; built in 2016 and well-maintained.
- Available change-of-ownership PIP; details in the virtual deal room (VDR).
- Highly desirable Hilton franchise; 15-year franchise agreement; benefits from Hilton Performance Advantage and Hilton Honors loyalty program.
- Attractive seller financing; 65% LTV, 8% fixed interest rate, interest-only payments over 3 years, no personal guarantee.
Property Details for 160 Wagon Point Dr
- Property type
- Hospitality properties, Hotels
- Square Feet
- 66,495 SF
- Year Built
- 2016
- Buildings
- 1
- Stories
- 4
- Lot Size (sq. ft)
- 116,741 SF
Location Insight
- City
- Houston
- County
- Harris
- State
- Texas
- Latitude
- 30.022841939131
- Longitude
- -95.431720699008
Nearby Similar for Sale
FAQs
- What type of property is this?
- Hospitality property - 118-key hotel, strong upside potential, seller financing.
- Where is the hospitality property located?
- The property is located at 160 Wagon Point Dr Houston, TX.
- What are key features of this property?
- This property features: Significant operational upside for a new operator; current GOP margin is 27%, but comparable hotels achieve 42-48%; RevPAR penetration index is 80.9%, indicating room for improvement.; Strong revenue growth; TTM rooms revenue is $2.25 million, a 16.1% year-over-year increase; year-to-date demand is up 11.6%.; High-quality asset priced below replacement cost; $85,000 per key, compared to estimated replacement cost of $150,000-$180,000 per key; built in 2016 and well-maintained.
- How can I contact the broker?
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