909 66Th StLubbock, TX 79412

Property Details for 909 66Th St

Year built

1979

Lot size

2.99 AC

Property size (Sq ft)

45,144 SF

Zone code

38

Property type

Hospitality properties

Property subtype

Motels

APN

R45716

APU

R45716

Description

This exceptional investment opportunity presents a dual-branded hotel in Lubbock, Texas, boasting 171 keys – 122 Motel 6 and 49 Studio 6 units. Strategically located at the intersection of I-27, SE Loop 29, and Hwy 84, this property enjoys unparalleled access to major transportation arteries. Its proximity to Lubbock Airport (10 miles), Silent Wings Museum (10 miles), and Texas Tech University (5 miles) – the sixth largest university in Texas – ensures consistent occupancy. The 68,674 square foot property sits on a 2.99-acre lot and features two stories, built in 1979, with F1 zoning. The asking price is $4,950,000, translating to $72.08 per square foot and $28,947 per key. The Studio 6 brand, launched in January 2024, is a significant revenue generator, adding to the already strong performance of the Motel 6 units. The 2023 room revenue was $1,496,141, offering a compelling 3.3x multiplier on the asking price. Lubbock, the 10th largest city in Texas with a population of 266,873, serves as a thriving economic, educational, and healthcare hub for the surrounding region, further solidifying this property's investment potential. This property offers significant upside for a new owner, capitalizing on Lubbock's robust growth and the dual-brand appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $7,607,259

  6.5%

  $7,022,085

  7%

  $6,520,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,464,807

  Geo Method

  $12,764,556

• Alternative Use

  Use

  Valuation

  Residential

  $7,666,076

  Hospitality

  $7,022,085

  Educational

  $5,842,292

  Medical

  $6,043,218

  Retail

  $9,088,010

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5338

Longitude

-101.846

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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