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La Quinta Inn & Suites
Price:
$6,750,000
$5,750,000
Address :
5515 I-37 North Frontage Rd
Corpus Christi, TX 78408
Excellent Interstate Highway 37 Location
Harbor Bridge Project will bring in blue collar workers over the next 2 year
Opportunity to improve occupancy with hands on owner/operator
Hotel located directly across Valero Oil Refinery & Asphalt Plant
Offered at discount to replacement cost
Location/Market
Physical Plant
Financials
The 3-county Corpus Christi MSA is home to 445,823 people.
Only minutes from Downtown Corpus Christi
The 6th busiest port by total tonnage, the deepwater Port of Corpus Christi can accommodate Suezmax super ships.
Close to Regional Demand Generators:
Valero Bill Greehey Oil Refinery
Hurricane Alley Water Park
Texas State Aquarium
Selena Museum
Corpus Christi Museum
122 Guest Rooms
Built in 1973
Four Buildings
2 Stories, Exterior Corridor
Concrete Construction
Stucco Façade
Red Tile Roof
Asphalt Parking Lot; 144 Standard Spaces, 4 Handicap Spaces, 6 Oversized Parking Spaces
Wireless Internet
Business Center
Guest Laundry
Outdoor Pool
Six Over-Sized Vehicle Parking Spaces
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Financials
2020
2021
2022
Occupancy
36.03%
59.84%
40.9%
Average Daily Rate
$58.54
$75.39
$73.41
Room Revenue
$463,196
$988,025
$1,336,525
Net Operating Income
($127,256)
$191,913
N/A
* Owner purchased the hotel in August 2020 Jan. 2019 - Mar. 2019 stats were derived from the STR report, and Revenues were calculated from those figures. Covid-19 protocols began in mid-March 2020 and have impacted operating results since that time.
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!
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