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Candlewood Suites Galveston 808 61st St 83 Room Hotel Galveston, TX 77551 $9,553,050 CAD ($115,097 CAD/Room) 11.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Ideal opportunity for a new investor to benefit from a recently renovated asset with strong historical cash-flows in the growing Galveston market.
- Priced at a 11.2% cap rate based on the 2024 year-end NOI of $773,000 (rounded).
- An investor can expect a new, 10-year franchise agreement with IHG.
- Underperforming hotel: rooms revenue as of TTM July 2025 equated to $1,460,000 (rounded), with 69.8% RevPAR penetration index.
- The change-of-ownership PIP report has been posted to the virtual deal room (VDR).
- The property is strategically located at the I-45 and 61st Street interchange; I-45 is a major thoroughfare for those traveling to Galveston Island.
EXECUTIVE SUMMARY
For more information, please visit the HVS marketing website to electronically execute the confidentiality agreement and get access to the Virtual Deal Room (VDR): https://brokerage.hvs.com/listing/?id=150899
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 83-key Candlewood Suites Galveston, a recently renovated, extended-stay hotel asset in Galveston, Texas. A new investor will have the opportunity to realize the significant upside of acquiring a recently renovated extended-stay hotel in a historically robust leisure market.
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 83-key Candlewood Suites Galveston, a recently renovated, extended-stay hotel asset in Galveston, Texas. A new investor will have the opportunity to realize the significant upside of acquiring a recently renovated extended-stay hotel in a historically robust leisure market.
PROPERTY FACTS
| Price | $9,553,050 CAD | Lot Size | 1.47 AC |
| Price Per Room | $115,097 CAD | Building Size | 41,232 SF |
| Sale Type | Investment | No. Rooms | 83 |
| Cap Rate | 11.20% | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 2008/2020 |
| Property Subtype | Hotel | Parking Ratio | 2.01/1,000 SF |
| Building Class | B | Corridor | Interior |
| Zoning | S - Commercial (NEC) | ||
| Price | $9,553,050 CAD |
| Price Per Room | $115,097 CAD |
| Sale Type | Investment |
| Cap Rate | 11.20% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.47 AC |
| Building Size | 41,232 SF |
| No. Rooms | 83 |
| No. Stories | 3 |
| Year Built/Renovated | 2008/2020 |
| Parking Ratio | 2.01/1,000 SF |
| Corridor | Interior |
| Zoning | S - Commercial (NEC) |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Fully-Equipped Kitchen
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 83 | $267.21 CAD | - |
PROPERTY TAXES
| Parcel Number | 2207-0000-0001-000 | Improvements Assessment | $5,174,105 CAD |
| Land Assessment | $1,235,076 CAD | Total Assessment | $6,409,182 CAD |
PROPERTY TAXES
Parcel Number
2207-0000-0001-000
Land Assessment
$1,235,076 CAD
Improvements Assessment
$5,174,105 CAD
Total Assessment
$6,409,182 CAD
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Candlewood Suites Galveston | 808 61st St
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