2502 Loop 306 San Angelo, TX 76904

The Bank Note on the 100-room Rodeway Inn in San Angelo, Texas, is available for acquisition. This offering involves the sale of a non-performing note. The hotel features leased restaurant and lounge outlets that generate additional income. The note, with a par value of $3,965,000, matures on 5/28/2019. As of the week of 1/7/19, a foreclosure process has been initiated, and an acceleration letter was mailed. The principal balance is $3,720,833.51, plus accrued interest; the 10/28/2018 payment is 74 days past due. The Rodeway Inn San Angelo is an economy hotel with 100 exterior corridor units, located off Loop 306. It provides convenient access to Angelo State University, San Angelo Community Medical Center, Sunset Mall, and Goodfellow Air Force Base. The property is less than seven miles from Mathis Field Airport and minutes from downtown San Angelo and the historic district. Constructed in 1986, the hotel has been maintained in excellent condition and recently renovated to include new case goods, carpet, vanity counter tops, flat panel televisions, and new lighting packages in all guest rooms. The property size is 50688 square feet. The attached lounge and restaurant are leased to third parties, providing continuous rental income. Gross revenue for 2017 was $931,726. Bank financing is available with 15% down for qualified buyers.