123 Huvar StVictoria, TX 77904

Property Details for 123 Huvar St

Year built

2012

Construction

FRAME

Lot size

3.38 AC

Property size (Sq ft)

90,876 SF

Property type

Hotels

APN

17216-001-00100

APU

1721600100100

Description

This 118-key Hilton Garden Inn in Victoria, Texas, presents a compelling investment opportunity. Built in 2013 and recently renovated in 2024, this four-story, 90,876 square foot hotel sits on a 3.4-acre lot. Boasting the largest meeting space (7,004 sq ft) in its submarket, including a resort-style pool and swim-up bar, it caters to both leisure and corporate travelers. The property enjoys a prime location near major highways, the Victoria Regional Airport, and significant regional employers. Financial performance has been strong, with trailing twelve-month (TTM) June 2024 gross operating profit (GOP) at 39.4% and net operating income (NOI) of approximately $1,162,000. Rooms revenue reached a record high of $3,871,000 in the same period, showing a 19.5% year-over-year increase (YTD July 2024). The hotel consistently outperforms the market, with an average RevPAR penetration index of 120.2% from 2021-2023. The Garden Grille & Bar added over $520,000 in revenue in 2023. A hands-on operator can further enhance profitability, targeting a stabilized GOP margin of 44-48%. The asking price is $13,900,000, representing $152.96 per square foot. The current occupancy rate is 72.4%. A new long-term franchise agreement with Hilton is anticipated upon acquisition. The property is offered free and clear of management encumbrances. The recent $1.3 million renovation minimizes any future property improvement plan (PIP) requirements. This represents a rare opportunity to acquire a high-performing, well-located hotel asset with significant upside potential. The property's APN is 20374344.

Location Insight

City

Victoria

County

Victoria

State

Texas

Latitude

28.86

Longitude

-96.9941

CBSA code

47020

CBSA name

VICTORIA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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