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6890 Woodway dr - Candlewood Suites by IHG Development Project 1.54 Acres of Commercial Land Offered at $1,373,720 CAD in Woodway, TX 76712
Investment Highlights
- Highly visible site directly off U.S. Highway 84 in the affluent Woodway submarket
- Near key corporate demand generators, such as L3Harris, SpaceX McGregor, Caterpillar, Baylor University, and major regional hospitals
- Candlewood Suites' lean operating model, with no F&B program/restaurant but rather the Candlewood Cupboard market pantry, delivers strong GOP margins.
- Steps from retail and dining along the Colonnade Parkway commercial corridor
- Proximate to local attractions and minutes from Magnolia Market at the Silos, the Baylor Sports Complex, and the Downtown Warehouse District
- The brand's lower construction cost per key makes it a highly efficient development choice backed by IHG One Rewards' 100M+ members.
Executive Summary
- Efficient Midscale Extended-Stay Model: Candlewood Suites' lean operating model, with no F&B program/restaurant but rather the Candlewood Cupboard market pantry, delivers strong GOP margins. The brand's lower construction cost per key makes it a highly efficient development choice backed by IHG One Rewards' 100M+ members.
- Affluent Woodway Submarket with Rate Integrity: Woodway is an incorporated city within the Waco MSA with higher household incomes and a desirable commercial trade area. The higher-income demographic supports rate integrity and consistent demand from corporate and relocation travelers.
- Proven Demand Corridor: The site is located within the U.S. Highway 84 corridor near State Highway 6. Key demand drivers include several large companies, major regional hospitals, and Baylor-related spillover.
Property Facts
| Price | $1,373,720 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.54 AC |
| Property Type | Land | ||
| Zoning | C-1 Commerical | ||
| Price | $1,373,720 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.54 AC |
| Zoning | C-1 Commerical |
1 Lot Available
Lot
| Price | $1,373,720 CAD | Lot Size | 1.54 AC |
| Price Per AC | $892,026.01 CAD |
| Price | $1,373,720 CAD |
| Price Per AC | $892,026.01 CAD |
| Lot Size | 1.54 AC |
Address: 6890 Woodway Dr, Woodway, TX 76712 Property ID: 412831 Size: 1.54 Acres (67,082 SF) Zoning: C-1 Commercial
Description
This offering presents the opportunity to acquire the pad-ready development site and a secured InterContinental Hotels Group (IHG) franchise agreement for the development of a Candlewood Suites hotel. The site benefits from excellent visibility directly off U.S. Highway 84 within the affluent Woodway submarket and is steps from the retail and dining options along the Colonnade Parkway corridor. The property is strategically positioned near major corporate demand generators, including L3Harris Technologies, SpaceX McGregor, Caterpillar, Baylor University, and leading regional healthcare facilities. Additionally, the site is conveniently located near local attractions, just minutes from Magnolia Market at the Silos, the Baylor University Sports Complex, and the Downtown Warehouse District, supporting a well-balanced mix of corporate and leisure demand.
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6890 Woodway dr - Candlewood Suites by IHG Development Project
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