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Red Roof Inn Lubbock 6624 Interstate 27 162 Room Hotel Lubbock, TX 79404 $4,464,640 CAD ($27,560 CAD/Room)
INVESTMENT HIGHLIGHTS
- 162 Units, 3 Story, Interior Corridor Hotel, Direct Access to Interstate 27
- Revenue in 2023: $1,173,083, Revenue in 2024: $1,016,814
- Leased Restaurant Provides Lease Income of $2,500 per Month
- Priced to Sell Asking $19,753 per Key
- Fantastic Location in Lubbock, a Major Hub in Northwest Texas, nearby to Texas Tech University and the Lubbock Preston H. Smith International Airport
- Conversion Opportunity with Flexibility to Change the Flag, Room Sizes at 300 sq ft (+/-), Opportunity for Dual Brand Conversion to Super 8 & Baymont
EXECUTIVE SUMMARY
162-room, 3 story interior corridor Franchised Hotel located in Lubbock, TX.
The hotel was built in 1979 and is in excellent condition. The Seller recently terminated the franchise agreement with Red Roof, planning to convert to dual brands with Wyndham, though you would be able to reflag or convert. Rooms have been updated with LVT flooring, and both bathrooms and FF&E meet brand standards. Revenue in 2023 was $1,173,082.99 without a full-time Owner on-site.
The hotel features an indoor pool and there is flexibility to bring a new flag to the hotel.
The hotel has direct access to Interstate 27. Lubbock, Texas, with a growing population of 255,000 and 10% city growth rate (2020-2022), boasts strong hotel demand generators, primarily Texas Tech University, drawing students, faculty, and visitors. Additionally, Covenant Medical Center and University General Hospital drive occupancy with patients and medical professionals. Major events at the United Supermarkets Arena and Lubbock Memorial Civic Center also significantly impact hotel demand.
Full details available after signing a Confidentiality Agreement.
The hotel was built in 1979 and is in excellent condition. The Seller recently terminated the franchise agreement with Red Roof, planning to convert to dual brands with Wyndham, though you would be able to reflag or convert. Rooms have been updated with LVT flooring, and both bathrooms and FF&E meet brand standards. Revenue in 2023 was $1,173,082.99 without a full-time Owner on-site.
The hotel features an indoor pool and there is flexibility to bring a new flag to the hotel.
The hotel has direct access to Interstate 27. Lubbock, Texas, with a growing population of 255,000 and 10% city growth rate (2020-2022), boasts strong hotel demand generators, primarily Texas Tech University, drawing students, faculty, and visitors. Additionally, Covenant Medical Center and University General Hospital drive occupancy with patients and medical professionals. Major events at the United Supermarkets Arena and Lubbock Memorial Civic Center also significantly impact hotel demand.
Full details available after signing a Confidentiality Agreement.
PROPERTY FACTS
| Price | $4,464,640 CAD | Building Size | 133,175 SF |
| Price Per Room | $27,560 CAD | No. Rooms | 162 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1975/2009 |
| Property Subtype | Hotel | Parking Ratio | 1.49/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 4.75 AC | ||
| Zoning | C-2 - Commercial | ||
| Price | $4,464,640 CAD |
| Price Per Room | $27,560 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.75 AC |
| Building Size | 133,175 SF |
| No. Rooms | 162 |
| No. Stories | 3 |
| Year Built/Renovated | 1975/2009 |
| Parking Ratio | 1.49/1,000 SF |
| Corridor | Interior |
| Zoning | C-2 - Commercial |
AMENITIES
- Pool
- High Speed Internet Access
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $133.94 CAD | - |
| Guest Room | 160 | $76.74 CAD | - |
1 1
PROPERTY TAXES
| Parcel Number | R45760 | Improvements Assessment | $3,300,262 CAD |
| Land Assessment | $521,768 CAD | Total Assessment | $3,822,031 CAD |
PROPERTY TAXES
Parcel Number
R45760
Land Assessment
$521,768 CAD
Improvements Assessment
$3,300,262 CAD
Total Assessment
$3,822,031 CAD
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Red Roof Inn Lubbock | 6624 Interstate 27
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