Amarillo Hospitality for Sale

Property Subtype:

Hotel

Date on Market:

2025-09-07

Amarillo Specialty for Sale

This established wedding and event venue is thoughtfully designed to support both residential living and full-scale event operations. The property includes a reception venue, two homes, a private bridal suite, and a variety of outdoor amenities, creating a seamless and functional experience for guests and operators alike. Event Venue – 7,600 SF Total (7,200 SF Reception Hall + 400 SF Additional Space) The centerpiece of the property is a fully insulated, spray foam event venue designed for large-scale weddings and events. The space includes a built-in bar, buffet serving area, DJ station, and ample room for dining and dance floor layouts. Additional features include a back kitchen with service entrance, commercial ice machine, decorating den, and mop closet. Well-appointed restrooms include multiple stalls, sinks, and lounge areas for guest comfort. Main Residence – 3,500 SF The primary home offers 3 bedrooms and 2.5 bathrooms with an oversized two-car garage. The layout has been adapted to support venue operations, featuring a large entry and living/dining areas currently utilized as a guest entrance. Additional highlights include direct access to the main garden, a sprinkler system, and a functional layout with mudroom access to the master suite, along with a utility room and in-suite laundry. Guest House – 2,000 SF This secondary residence features 3 bedrooms and 2 bathrooms, plus an additional exterior-access bathroom serving the pool area. The open-concept floor plan, one-car garage, and separate mechanical systems (HVAC, septic, and water heater) provide flexibility for guest accommodations or rental use. Bridal Suite – 800 SF Located above the main garage, the private bridal suite offers a dedicated preparation space complete with a full bathroom, mini-split HVAC system, storage room, and private stair access. Outdoor & Supporting Amenities: The property is enhanced by well-maintained grounds and event-ready outdoor features, including a main garden with patio furnishings, a 140-year-old gazebo, fire pits, and a solar-heated pool with outdoor kitchen and dedicated restroom. Additional improvements include greenhouses, storage buildings, and ample parking to support large gatherings.

Property Subtype:

Lodge/Meeting Hall

Date on Market:

2026-04-21

Amarillo Hospitality for Sale

This 24-unit motel is currently operating as a long-term stay studio/apartment complex, offering stable, consistent rental income with full occupancy. Property Financial Overview (As a Motel): Address: 3602 E Amarillo Blvd, Amarillo, TX 79107 Current As-Is Market Value: $1,411,896 at $112,951.68 current annual NOI (8% cap rate) Rehab: $135,000 Value-Add Potential – Kitchenette Addition, Planned Unit Development Conversion Partnership with Bureau of Prisons. Current Rent Make Up (As Motel): 95% Occupied - Every unit is leased on a 1-year agreement with long-term tenants. Main owners residence can be rented to new buyer as owner currently lives here. Diverse Unit Mix: • 18 standard units – each functioning as an efficiency-style studio with bathrooms. • 2 stand-alone cabins – each a spacious 2-bedroom, 1-bathroom home in the back of the property. • 1 separate housekeeping unit that can be converted for tenancy. • 1 Main Owner’s Residence: A 2-bedroom, 1-bathroom home located on-site, perfect for an owner/operator or property manager. • 2 units for storage, laundry Ample Parking: • Plenty of parking spaces for all tenants with additional room to spare! Turnkey Investment: • Property is already set up for consistent, passive income. *******We've attached a .csv file of the current P&L and Rent Roll to this listing******* This is an unbeatable opportunity for anyone looking to own a high-yielding property in a growing area! SERIOUS INQUIRIES ONLY! This property presents an attractive investment opportunity by adding kitchenettes to the remaining 14 units. We've received a quote of $70,000 for the necessary materials and labor to complete this project. We've also met with Amarillo's zoning department and community development team to discuss rezoning the property to a "Planned Unit Development" (PUD). This rezoning will require installing fire sprinklers and one fire hydrant, with a total estimated cost of $65,000. These upgrades would allow us to increase the rents to the Fair Market Rent (FMR) rate of $872 per month. With a total investment of about $135,000, these improvements will substantially raise the property's value, potentially turning it into an asset that pays itself generating consistent passive income for many years. Estimated Financial Impact of Kitchenette Addition (Proforma): Revenue: (18) Studio Units x $872 a month = $14,634 per month (1) Studio (Housekeeping unit converted) = $872 per month (2) 1 Bed 1 Bath Houses (2 standalone cabins) = $1,904 per month (1) 2 Bed 1 Bath Unit (Main Owner’s Residence) = $1,158 per month Gross Sum: $18,935 (95% occupancy) Adjusted NOI (Less Total Operating Expense of $3,788.36 per month): $15,146.64 per month Annual NOI: $15,146.64 x 12 months = $181,759.68 As complete income: $181,759.68 NOI

Property Subtype:

Hotel

Date on Market:

2025-11-11